Rocket Companies, Inc. $RKT Stock Holdings Increased by Vise Technologies Inc.

Vise Technologies Inc. lifted its stake in Rocket Companies, Inc. (NYSE:RKT) by 268.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 84,138 shares of the company’s stock after purchasing an additional 61,324 shares during the quarter. Vise Technologies Inc.’s holdings in Rocket Companies were worth $1,629,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Pinnacle Bancorp Inc. lifted its position in shares of Rocket Companies by 369.7% in the fourth quarter. Pinnacle Bancorp Inc. now owns 1,503 shares of the company’s stock worth $29,000 after purchasing an additional 1,183 shares in the last quarter. City State Bank purchased a new stake in shares of Rocket Companies in the fourth quarter worth approximately $30,000. Smithfield Trust Co purchased a new stake in shares of Rocket Companies in the fourth quarter worth approximately $32,000. Key Financial Inc purchased a new stake in shares of Rocket Companies in the fourth quarter worth approximately $32,000. Finally, Private Capital Management LLC purchased a new stake in shares of Rocket Companies in the third quarter worth approximately $182,000. 4.59% of the stock is owned by hedge funds and other institutional investors.

Rocket Companies Price Performance

Shares of RKT opened at $12.65 on Monday. The firm has a market cap of $35.80 billion, a PE ratio of 253.08 and a beta of 2.19. The firm’s 50 day moving average price is $14.54 and its 200 day moving average price is $17.24. The company has a debt-to-equity ratio of 1.13, a quick ratio of 4.37 and a current ratio of 4.37. Rocket Companies, Inc. has a twelve month low of $12.38 and a twelve month high of $24.36.

Rocket Companies (NYSE:RKT) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.03. The firm had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.76 billion. Rocket Companies had a net margin of 2.78% and a return on equity of 4.30%. The company’s revenue for the quarter was up 167.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.04 earnings per share. As a group, research analysts expect that Rocket Companies, Inc. will post 0.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on RKT. Keefe, Bruyette & Woods reduced their price target on shares of Rocket Companies from $22.00 to $21.00 and set an “outperform” rating for the company in a research report on Tuesday, May 12th. Weiss Ratings raised shares of Rocket Companies from a “sell (d)” rating to a “hold (c)” rating in a research report on Wednesday, May 13th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $20.00 price objective on shares of Rocket Companies in a research report on Monday, May 11th. Zacks Research raised shares of Rocket Companies from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 12th. Finally, Compass Point began coverage on shares of Rocket Companies in a research report on Tuesday, March 10th. They set a “buy” rating and a $21.00 price objective on the stock. Nine research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $20.93.

About Rocket Companies

Rocket Companies, Inc is a Detroit-based holding company whose businesses are centered on digital mortgage origination and related consumer finance and real estate services. The company grew out of the Quicken Loans franchise and completed an initial public offering in 2020. Founder Dan Gilbert remains a prominent figure associated with the firm, which operates a suite of brands that aim to simplify the home financing and buying experience through technology and scale.

The company’s core activity is mortgage lending through its Rocket Mortgage platform, which offers online application, underwriting and servicing for home purchase and refinance loans.