Rocket Companies, Inc. $RKT Shares Acquired by Hantz Financial Services Inc.

Hantz Financial Services Inc. lifted its position in shares of Rocket Companies, Inc. (NYSE:RKT) by 300,143.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 522,423 shares of the company’s stock after acquiring an additional 522,249 shares during the quarter. Hantz Financial Services Inc.’s holdings in Rocket Companies were worth $10,114,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cloud Capital Management LLC acquired a new position in shares of Rocket Companies during the third quarter worth about $25,000. Pinnacle Bancorp Inc. increased its stake 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 period. City State Bank acquired a new position in shares of Rocket Companies during the fourth quarter worth about $30,000. Private Capital Management LLC acquired a new position in shares of Rocket Companies during the third quarter worth about $182,000. Finally, Newbridge Financial Services Group Inc. increased its stake in shares of Rocket Companies by 875.0% during the third quarter. Newbridge Financial Services Group Inc. now owns 1,950 shares of the company’s stock worth $38,000 after acquiring an additional 1,750 shares during the period. 4.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their price target on shares of Rocket Companies from $24.00 to $16.50 and set a “neutral” rating on the stock in a research note on Thursday, April 9th. Zacks Research upgraded shares of Rocket Companies from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 12th. Stephens assumed coverage on shares of Rocket Companies in a research note on Thursday, April 23rd. They set an “overweight” rating and a $22.50 price target on the stock. Compass Point started coverage on shares of Rocket Companies in a research note on Tuesday, March 10th. They set a “buy” rating and a $21.00 price target on the stock. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Rocket Companies from $22.00 to $21.00 and set an “outperform” rating on the stock in a report on Tuesday, May 12th. Nine research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.93.

Rocket Companies Price Performance

RKT stock opened at $13.79 on Monday. The company has a market cap of $38.89 billion, a P/E ratio of 275.80 and a beta of 2.23. Rocket Companies, Inc. has a 52 week low of $12.25 and a 52 week high of $24.36. The company’s 50-day moving average price is $14.64 and its 200 day moving average price is $17.45. 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 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. The firm had revenue of $2.82 billion for the quarter, compared to the consensus estimate of $2.76 billion. Rocket Companies had a net margin of 2.78% and a return on equity of 4.30%. The firm’s revenue was up 167.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.04 earnings per share. On average, research analysts expect that Rocket Companies, Inc. will post 0.63 earnings per share for the current fiscal year.

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.