Rocket Companies, Inc. $RKT Stock Holdings Boosted by Governors Lane LP

Governors Lane LP lifted its position in shares of Rocket Companies, Inc. (NYSE:RKT) by 19.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 535,597 shares of the company’s stock after acquiring an additional 85,581 shares during the period. Governors Lane LP’s holdings in Rocket Companies were worth $10,369,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Truvestments Capital LLC bought a new position in shares of Rocket Companies during the fourth quarter worth about $26,000. Acumen Wealth Advisors LLC bought a new position in shares of Rocket Companies during the fourth quarter worth about $26,000. Pinnacle Bancorp Inc. grew its position in shares of 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 acquiring an additional 1,183 shares during the last quarter. City State Bank bought a new position in shares of Rocket Companies during the fourth quarter worth about $30,000. Finally, Smithfield Trust Co bought a new position in shares of Rocket Companies during the fourth quarter worth about $32,000. Institutional investors own 4.59% of the company’s stock.

Rocket Companies Price Performance

RKT stock opened at $13.17 on Thursday. 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, Inc. has a one year low of $12.17 and a one year high of $24.36. The firm has a market capitalization of $37.27 billion, a PE ratio of 263.48 and a beta of 2.19. The firm has a 50-day moving average of $14.36 and a two-hundred day moving average of $16.96.

Rocket Companies (NYSE:RKT) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates 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%. The business’s quarterly revenue was up 167.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.04 earnings per share. On average, analysts forecast that Rocket Companies, Inc. will post 0.65 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Stephens assumed coverage on shares of Rocket Companies in a research report on Thursday, April 23rd. They set an “overweight” rating and a $22.50 price target for the company. Keefe, Bruyette & Woods decreased their target price on shares of Rocket Companies from $22.00 to $21.00 and set an “outperform” rating for the company in a research report on Tuesday, May 12th. Zacks Research upgraded shares of Rocket Companies from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 12th. JPMorgan Chase & Co. decreased 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 report on Thursday, April 9th. Finally, Weiss Ratings upgraded shares of Rocket Companies from a “sell (d)” rating to a “hold (c)” rating in a research report on Wednesday, May 13th. Eight research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, Rocket Companies currently has a consensus rating of “Hold” and a consensus target price of $20.93.

Rocket Companies 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.