Thames Capital Management LLC Has $21.43 Million Position in Rocket Companies, Inc. $RKT

Thames Capital Management LLC boosted its stake in shares of Rocket Companies, Inc. (NYSE:RKT) by 54.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,106,003 shares of the company’s stock after buying an additional 389,101 shares during the quarter. Rocket Companies makes up 3.1% of Thames Capital Management LLC’s holdings, making the stock its 5th largest holding. Thames Capital Management LLC’s holdings in Rocket Companies were worth $21,434,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. North Capital Inc. raised its position in shares of Rocket Companies by 287.2% during the second quarter. North Capital Inc. now owns 1,820 shares of the company’s stock valued at $26,000 after buying an additional 1,350 shares during the last quarter. SouthState Corp raised its holdings in Rocket Companies by 2,044.8% in the 2nd quarter. SouthState Corp now owns 2,059 shares of the company’s stock valued at $29,000 after acquiring an additional 1,963 shares in the last quarter. Miller Wealth Advisors LLC raised its holdings in Rocket Companies by 65.0% in the 3rd quarter. Miller Wealth Advisors LLC now owns 1,650 shares of the company’s stock valued at $32,000 after acquiring an additional 650 shares in the last quarter. Geneos Wealth Management Inc. bought a new stake in shares of Rocket Companies in the 3rd quarter worth approximately $38,000. Finally, CX Institutional acquired a new stake in shares of Rocket Companies during the 3rd quarter worth approximately $39,000. 4.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RKT has been the subject of a number of recent research reports. Wall Street Zen lowered Rocket Companies from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Royal Bank Of Canada increased their price objective on shares of Rocket Companies from $17.00 to $20.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 8th. UBS Group set a $17.00 price objective on shares of Rocket Companies and gave the stock a “neutral” rating in a report on Friday, October 10th. Jefferies Financial Group began coverage on shares of Rocket Companies in a research report on Friday, December 19th. They issued a “buy” rating and a $25.00 price target for the company. Finally, Morgan Stanley lifted their price objective on Rocket Companies from $16.00 to $18.00 and gave the company an “equal weight” rating in a report on Monday, September 29th. Five research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Rocket Companies has a consensus rating of “Hold” and a consensus price target of $20.50.

Rocket Companies Price Performance

NYSE:RKT opened at $23.44 on Friday. The company has a quick ratio of 19.68, a current ratio of 19.68 and a debt-to-equity ratio of 2.16. The firm has a market cap of $49.33 billion, a PE ratio of 293.04 and a beta of 2.29. Rocket Companies, Inc. has a 12 month low of $10.94 and a 12 month high of $23.60. The company’s 50-day moving average price is $19.30 and its two-hundred day moving average price is $17.96.

Rocket Companies (NYSE:RKT) last posted its earnings results on Thursday, October 30th. The company reported $0.07 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.07. The company had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Rocket Companies had a negative net margin of 1.77% and a positive return on equity of 2.83%. Rocket Companies’s quarterly revenue was up 148.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 earnings per share. On average, equities analysts anticipate that Rocket Companies, Inc. will post 0.15 EPS for the current fiscal year.

Insider Buying and Selling at Rocket Companies

In related news, Director Matthew Rizik sold 2,500 shares of Rocket Companies stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $22.99, for a total value of $57,475.00. Following the completion of the transaction, the director directly owned 1,038,536 shares of the company’s stock, valued at $23,875,942.64. The trade was a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold 40,000 shares of company stock valued at $779,425 in the last three months. Company insiders own 92.64% of the company’s stock.

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.