Rocket Companies, Inc. $RKT is Clifford Capital Partners LLC’s 3rd Largest Position

Clifford Capital Partners LLC lifted its position in Rocket Companies, Inc. (NYSE:RKT) by 54.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,256,858 shares of the company’s stock after purchasing an additional 444,999 shares during the quarter. Rocket Companies comprises about 4.1% of Clifford Capital Partners LLC’s holdings, making the stock its 3rd biggest holding. Clifford Capital Partners LLC’s holdings in Rocket Companies were worth $24,333,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Truvestments Capital LLC purchased a new stake in shares of Rocket Companies in the fourth quarter valued at about $26,000. Acumen Wealth Advisors LLC purchased a new stake in shares of Rocket Companies in the fourth quarter valued at about $26,000. Pinnacle Bancorp Inc. grew its holdings 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 valued at $29,000 after purchasing an additional 1,183 shares during the period. City State Bank purchased a new stake in shares of Rocket Companies in the fourth quarter valued at about $30,000. Finally, Smithfield Trust Co purchased a new stake in shares of Rocket Companies in the fourth quarter valued at about $32,000. Hedge funds and other institutional investors own 4.59% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RKT. Zacks Research raised shares of Rocket Companies from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 12th. Wells Fargo & Company dropped their price objective on shares of Rocket Companies from $19.00 to $17.00 and set an “equal weight” rating for the company in a report on Thursday, April 9th. Stephens assumed coverage on shares of Rocket Companies in a research note on Thursday, April 23rd. They set an “overweight” rating and a $22.50 target price for the company. Compass Point assumed coverage on shares of Rocket Companies in a research note on Tuesday, March 10th. They set a “buy” rating and a $21.00 target price for the company. Finally, JPMorgan Chase & Co. lowered their target price on shares of Rocket Companies from $24.00 to $16.50 and set a “neutral” rating for the company in a research note on Thursday, April 9th. Eight investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $20.93.

Rocket Companies Trading Down 5.4%

Shares of RKT stock opened at $13.17 on Thursday. The company has a debt-to-equity ratio of 1.13, a current ratio of 4.37 and a quick ratio of 4.37. The firm has a market cap of $37.27 billion, a PE ratio of 263.48 and a beta of 2.19. The company has a 50-day moving average of $14.36 and a two-hundred day moving average of $16.96. Rocket Companies, Inc. has a 1-year low of $12.17 and a 1-year high of $24.36.

Rocket Companies (NYSE:RKT) last announced its earnings results 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 during 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%. Rocket Companies’s revenue was up 167.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.04 earnings per share. On average, analysts predict that Rocket Companies, Inc. will post 0.65 EPS for the current year.

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.