CenterBook Partners LP Acquires Shares of 215,359 Rocket Companies, Inc. $RKT

CenterBook Partners LP acquired a new stake in shares of Rocket Companies, Inc. (NYSE:RKT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 215,359 shares of the company’s stock, valued at approximately $4,169,000.

Several other institutional investors have also added to or reduced their stakes in RKT. ORG Partners LLC lifted its holdings in shares of Rocket Companies by 22.3% in the fourth quarter. ORG Partners LLC now owns 2,857 shares of the company’s stock worth $55,000 after buying an additional 520 shares in the last quarter. Manchester Capital Management LLC lifted its holdings in shares of Rocket Companies by 0.5% in the fourth quarter. Manchester Capital Management LLC now owns 116,466 shares of the company’s stock worth $2,255,000 after buying an additional 618 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Rocket Companies by 3.5% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 18,817 shares of the company’s stock worth $365,000 after buying an additional 636 shares in the last quarter. Composition Wealth LLC lifted its holdings in shares of Rocket Companies by 2.7% in the fourth quarter. Composition Wealth LLC now owns 25,323 shares of the company’s stock worth $490,000 after buying an additional 668 shares in the last quarter. Finally, Parallel Advisors LLC lifted its holdings in shares of Rocket Companies by 26.1% in the third quarter. Parallel Advisors LLC now owns 3,267 shares of the company’s stock worth $63,000 after buying an additional 677 shares in the last quarter. 4.59% of the stock is owned by hedge funds and other institutional investors.

Rocket Companies Stock Down 2.3%

RKT stock opened at $12.36 on Tuesday. The company has a current ratio of 4.37, a quick ratio of 4.37 and a debt-to-equity ratio of 1.13. The company’s 50 day moving average is $14.50 and its 200 day moving average is $17.20. The stock has a market cap of $34.97 billion, a price-to-earnings ratio of 247.20 and a beta of 2.19. Rocket Companies, Inc. has a 1-year low of $12.17 and a 1-year high of $24.36.

Rocket Companies (NYSE:RKT) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.03. The company had revenue of $2.82 billion for the quarter, compared to analysts’ expectations of $2.76 billion. Rocket Companies had a net margin of 2.78% and a return on equity of 4.30%. Rocket Companies’s revenue for the quarter was up 167.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.04 earnings per share. Sell-side analysts predict that Rocket Companies, Inc. will post 0.65 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RKT. Wells Fargo & Company lowered their price target on shares of Rocket Companies from $19.00 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, April 9th. Compass Point began coverage on shares of Rocket Companies in a report on Tuesday, March 10th. They issued a “buy” rating and a $21.00 price target on the stock. Royal Bank Of Canada reissued a “sector perform” rating and issued a $20.00 price target on shares of Rocket Companies in a report on Monday, May 11th. Keefe, Bruyette & Woods lowered their price target on shares of Rocket Companies from $22.00 to $21.00 and set an “outperform” rating on the stock in a report on Tuesday, May 12th. Finally, Zacks Research raised shares of Rocket Companies from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 12th. Nine 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.