Kettle Hill Capital Management LLC Sells 528,359 Shares of Rocket Companies, Inc. $RKT

Kettle Hill Capital Management LLC trimmed its position in shares of Rocket Companies, Inc. (NYSE:RKT) by 41.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 745,132 shares of the company’s stock after selling 528,359 shares during the period. Rocket Companies accounts for approximately 3.2% of Kettle Hill Capital Management LLC’s investment portfolio, making the stock its 12th biggest position. Kettle Hill Capital Management LLC’s holdings in Rocket Companies were worth $14,426,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Truvestments Capital LLC bought a new position in shares of Rocket Companies during the 4th quarter worth approximately $26,000. Acumen Wealth Advisors LLC acquired a new stake in Rocket Companies during the 4th quarter valued at $26,000. Pinnacle Bancorp Inc. boosted its position in Rocket Companies by 369.7% during 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 during the period. City State Bank bought a new position in Rocket Companies during the fourth quarter worth $30,000. Finally, Smithfield Trust Co acquired a new position in shares of Rocket Companies in the fourth quarter valued at $32,000. Institutional investors and hedge funds own 4.59% of the company’s stock.

Rocket Companies Stock Performance

RKT opened at $13.95 on Tuesday. The firm has a market cap of $39.47 billion, a P/E ratio of 279.02 and a beta of 2.19. Rocket Companies, Inc. has a 52-week low of $12.17 and a 52-week high of $24.36. The company has a debt-to-equity ratio of 1.13, a quick ratio of 4.37 and a current ratio of 4.37. The business’s fifty day moving average is $14.41 and its 200-day moving average is $17.05.

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

Analyst Upgrades and Downgrades

A number of research analysts recently commented on RKT shares. Wells Fargo & Company decreased 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 research note on Thursday, April 9th. Stephens began coverage on shares of Rocket Companies in a research report on Thursday, April 23rd. They set an “overweight” rating and a $22.50 price objective for the company. Royal Bank Of Canada restated a “sector perform” rating and set a $20.00 price objective on shares of Rocket Companies in a report on Monday, May 11th. Keefe, Bruyette & Woods lowered their target price on Rocket Companies from $22.00 to $21.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 12th. Finally, Citizens Jmp began coverage on Rocket Companies in a research note on Wednesday, March 25th. They set a “market perform” rating on the stock. Nine equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus 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.