299,900 Shares in Rocket Companies, Inc. $RKT Bought by Lingotto Investment Management LLP

Lingotto Investment Management LLP bought a new position in shares of Rocket Companies, Inc. (NYSE:RKT) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 299,900 shares of the company’s stock, valued at approximately $5,806,000.

Several other large investors have also bought and sold shares of the stock. ORG Partners LLC raised its position in Rocket Companies by 22.3% during the 4th quarter. ORG Partners LLC now owns 2,857 shares of the company’s stock worth $55,000 after purchasing an additional 520 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Rocket Companies by 3.5% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 18,817 shares of the company’s stock worth $365,000 after purchasing an additional 636 shares during the last quarter. Composition Wealth LLC raised its position in Rocket Companies by 2.7% during the 4th quarter. Composition Wealth LLC now owns 25,323 shares of the company’s stock worth $490,000 after purchasing an additional 668 shares during the last quarter. Parallel Advisors LLC raised its position in shares of Rocket Companies by 26.1% in the 3rd quarter. Parallel Advisors LLC now owns 3,267 shares of the company’s stock worth $63,000 after acquiring an additional 677 shares in the last quarter. Finally, NewEdge Wealth LLC raised its position in shares of Rocket Companies by 5.7% in the 4th quarter. NewEdge Wealth LLC now owns 13,204 shares of the company’s stock worth $256,000 after acquiring an additional 707 shares in the last quarter. 4.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RKT. Barclays raised Rocket Companies from an “equal weight” rating to an “overweight” rating and lowered their price objective for the stock from $22.00 to $19.00 in a research report on Monday, April 6th. Zacks Research raised Rocket Companies from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 12th. Compass Point began coverage on Rocket Companies in a research report on Tuesday, March 10th. They issued a “buy” rating and a $21.00 price objective for the company. Keefe, Bruyette & Woods lowered their price objective on Rocket Companies from $22.00 to $21.00 and set an “outperform” rating for the company in a research report on Tuesday, May 12th. Finally, Wells Fargo & Company lowered their price objective on Rocket Companies from $19.00 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday, April 9th. Nine analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.93.

Rocket Companies Price Performance

RKT stock opened at $14.19 on Tuesday. The company has a market capitalization of $40.14 billion, a P/E ratio of 283.76 and a beta of 2.19. 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 52-week low of $12.25 and a 52-week high of $24.36. The business has a 50-day simple moving average of $14.60 and a two-hundred day simple moving average of $17.35.

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