BI Asset Management Fondsmaeglerselskab A S Buys Shares of 55,468 Rocket Companies, Inc. $RKT

BI Asset Management Fondsmaeglerselskab A S bought a new position in Rocket Companies, Inc. (NYSE:RKT) in the first quarter, according to its most recent disclosure with the SEC. The firm bought 55,468 shares of the company’s stock, valued at approximately $790,000.

Other institutional investors have also modified their holdings of the company. Thompson Davis & CO. Inc. purchased a new position in Rocket Companies during the first quarter worth about $229,000. Purpose Unlimited Inc. purchased a new stake in shares of Rocket Companies in the 4th quarter valued at approximately $664,000. Hsbc Holdings PLC grew its stake in shares of Rocket Companies by 2,876.6% in the 4th quarter. Hsbc Holdings PLC now owns 1,254,973 shares of the company’s stock valued at $24,357,000 after buying an additional 1,212,812 shares during the period. Rockefeller Capital Management L.P. increased its holdings in shares of Rocket Companies by 336.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 28,181 shares of the company’s stock worth $546,000 after buying an additional 21,727 shares during the last quarter. Finally, World Investment Advisors acquired a new stake in shares of Rocket Companies during the 4th quarter worth approximately $526,000. Hedge funds and other institutional investors own 4.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on RKT shares. BTIG Research reiterated a “neutral” rating on shares of Rocket Companies in a report on Tuesday, June 16th. Stephens began coverage on Rocket Companies in a research report on Thursday, April 23rd. They issued an “overweight” rating and a $22.50 target price on the stock. Citizens Jmp initiated coverage on Rocket Companies in a research note on Wednesday, March 25th. They issued a “market perform” rating on the stock. Compass Point initiated coverage on Rocket Companies in a report on Tuesday, March 10th. They set a “buy” rating and a $21.00 price target for the company. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $20.00 price target on shares of Rocket Companies in a research report on Monday, May 11th. Eight equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Rocket Companies presently has an average rating of “Hold” and an average price target of $20.93.

Rocket Companies Trading Up 8.9%

Shares of NYSE:RKT opened at $14.67 on Thursday. Rocket Companies, Inc. has a 52 week low of $12.17 and a 52 week high of $24.36. The company’s 50 day moving average is $14.27 and its two-hundred day moving average is $16.76. The company has a market cap of $41.52 billion, a PE ratio of 293.48 and a beta of 2.19. The company has a current ratio of 4.37, a quick ratio of 4.37 and a debt-to-equity ratio of 1.13.

Rocket Companies (NYSE:RKT) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.03. The business had revenue of $2.82 billion during 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%. The company’s revenue for the quarter was up 167.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.04 EPS. Equities analysts predict that Rocket Companies, Inc. will post 0.63 earnings per share for the current fiscal year.

Rocket Companies Company Profile

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.