SG Americas Securities LLC Purchases 124,549 Shares of Rocket Companies, Inc. $RKT

SG Americas Securities LLC lifted its position in Rocket Companies, Inc. (NYSE:RKT) by 226.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 179,436 shares of the company’s stock after purchasing an additional 124,549 shares during the quarter. SG Americas Securities LLC’s holdings in Rocket Companies were worth $3,474,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Royal Bank of Canada increased its holdings in Rocket Companies by 48.9% in the 1st quarter. Royal Bank of Canada now owns 69,641 shares of the company’s stock valued at $841,000 after buying an additional 22,861 shares during the period. Amundi increased its stake in Rocket Companies by 3.1% in the first quarter. Amundi now owns 33,416 shares of the company’s stock valued at $403,000 after acquiring an additional 997 shares during the period. AQR Capital Management LLC raised its position in Rocket Companies by 1,086.5% in the first quarter. AQR Capital Management LLC now owns 400,467 shares of the company’s stock worth $4,734,000 after purchasing an additional 366,716 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Rocket Companies by 12.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 370,619 shares of the company’s stock worth $4,473,000 after purchasing an additional 40,326 shares during the period. Finally, Creative Planning lifted its stake in Rocket Companies by 17.2% during the second quarter. Creative Planning now owns 18,215 shares of the company’s stock worth $258,000 after purchasing an additional 2,679 shares during the period. 4.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on RKT shares. Wells Fargo & Company upped their price objective on Rocket Companies from $17.00 to $19.00 and gave the company an “equal weight” rating in a research note on Friday, February 27th. Compass Point began coverage on Rocket Companies in a research note on Tuesday, March 10th. They issued a “buy” rating and a $21.00 price target on the stock. Jefferies Financial Group started coverage on Rocket Companies in a research report on Friday, December 19th. They issued a “buy” rating and a $25.00 price target on the stock. JPMorgan Chase & Co. began coverage on Rocket Companies in a research note on Monday, January 12th. They set a “neutral” rating and a $24.00 price objective for the company. Finally, Barclays set a $22.00 price objective on Rocket Companies and gave the company an “equal weight” rating in a report on Tuesday, January 6th. Seven equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $21.14.

Rocket Companies Stock Performance

NYSE:RKT opened at $14.95 on Friday. The stock has a market capitalization of $42.16 billion, a P/E ratio of -115.02 and a beta of 2.34. The company has a current ratio of 70.90, a quick ratio of 70.90 and a debt-to-equity ratio of 1.07. Rocket Companies, Inc. has a 1 year low of $10.94 and a 1 year high of $24.36. The firm has a 50 day moving average of $16.99 and a 200-day moving average of $18.24.

Rocket Companies (NYSE:RKT) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. Rocket Companies had a positive return on equity of 3.04% and a negative net margin of 1.02%.The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period in the prior year, the company earned $0.04 EPS. Rocket Companies’s revenue for the quarter was up 52.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Rocket Companies, Inc. will post 0.15 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Matthew Rizik sold 2,500 shares of the stock in a transaction on Monday, January 12th. The stock was sold at an average price of $22.99, for a total transaction of $57,475.00. Following the sale, the director owned 1,038,536 shares in the company, valued at approximately $23,875,942.64. This represents a 0.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 7,500 shares of company stock valued at $167,575 over the last quarter. 92.64% of the stock is currently owned by insiders.

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.