55,426 Shares in Rocket Companies, Inc. $RKT Purchased by M&T Bank Corp

M&T Bank Corp acquired a new stake in Rocket Companies, Inc. (NYSE:RKT) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 55,426 shares of the company’s stock, valued at approximately $1,073,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Brooktree Capital Management lifted its holdings in shares of Rocket Companies by 27.5% in the 3rd quarter. Brooktree Capital Management now owns 148,653 shares of the company’s stock valued at $2,881,000 after buying an additional 32,088 shares during the period. Cibc World Market Inc. acquired a new position in Rocket Companies during the third quarter worth $2,689,000. Udine Wealth Management Inc. raised its position in Rocket Companies by 86.1% in the third quarter. Udine Wealth Management Inc. now owns 168,070 shares of the company’s stock worth $3,257,000 after acquiring an additional 77,736 shares in the last quarter. Thames Capital Management LLC raised its position in Rocket Companies by 54.3% in the third quarter. Thames Capital Management LLC now owns 1,106,003 shares of the company’s stock worth $21,434,000 after acquiring an additional 389,101 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Rocket Companies by 29.5% in the third quarter. Vanguard Group Inc. now owns 22,945,500 shares of the company’s stock worth $444,684,000 after acquiring an additional 5,226,931 shares in the last quarter. Hedge funds and other institutional investors own 4.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Citizens Jmp assumed coverage on Rocket Companies in a research report on Wednesday, March 25th. They issued a “market perform” rating for the company. Wells Fargo & Company cut 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. JPMorgan Chase & Co. cut their price objective on Rocket Companies from $24.00 to $16.50 and set a “neutral” rating for the company in a research report on Thursday, April 9th. Keefe, Bruyette & Woods upgraded Rocket Companies from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $20.00 to $22.00 in a research report on Monday, March 16th. Finally, Zacks Research cut Rocket Companies from a “hold” rating to a “strong sell” rating in a research report on Monday, April 13th. Nine analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $21.00.

Trending Headlines about Rocket Companies

Here are the key news stories impacting Rocket Companies this week:

• Positive Sentiment: Rocket Companies posted better-than-expected Q1 results, with earnings of $0.15 per share topping estimates and revenue of $2.82 billion beating forecasts, helped by a 167% year-over-year jump in revenue. Rocket Companies (RKT) Beats Q1 Earnings and Revenue Estimates
• Positive Sentiment: Management highlighted accelerating momentum from AI and acquisitions, with EBITDA more than tripling, reinforcing the idea that the company’s turnaround is taking hold. Rocket Companies Beats Estimates as AI and Acquisitions Accelerate the Turnaround
• Positive Sentiment: Shares also got a sentiment boost from unusually heavy call-option buying, suggesting traders are positioning for more upside after the earnings report.
• Neutral Sentiment: Rocket’s Q2 revenue guidance of $2.7 billion to $2.9 billion was below consensus, which could limit gains if investors focus on near-term execution rather than the quarterly beat. Rocket Companies trades higher as Q1 earnings top estimates, Q2 guidance below consensus
• Neutral Sentiment: Redfin’s report that pending home sales hit the highest level in nearly four years is a supportive backdrop for Rocket’s mortgage business, but it is indirect and not a company-specific catalyst. Redfin Reports Pending Home Sales Hit Highest Level in Nearly 4 Years

Rocket Companies Trading Down 0.0%

NYSE:RKT opened at $15.69 on Monday. The stock has a fifty day moving average price of $15.16 and a two-hundred day moving average price of $17.70. The stock has a market capitalization of $44.24 billion, a price-to-earnings ratio of 313.76 and a beta of 2.23. The company has a debt-to-equity ratio of 1.13, a quick ratio of 70.90 and a current ratio of 4.37. Rocket Companies, Inc. has a 1 year low of $11.08 and a 1 year high of $24.36.

Rocket Companies (NYSE:RKT) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.15 earnings per share 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 analysts’ expectations of $2.76 billion. During the same quarter last year, the business posted $0.04 earnings per share. The business’s revenue for the quarter was up 167.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Rocket Companies, Inc. will post 0.63 earnings per share 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.