State of Wyoming Makes New Investment in Rocket Companies, Inc. $RKT

State of Wyoming purchased a new position in shares of Rocket Companies, Inc. (NYSE:RKT) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 43,682 shares of the company’s stock, valued at approximately $503,000.

A number of other institutional investors have also modified their holdings of the stock. Valeo Financial Advisors LLC boosted its position in Rocket Companies by 4.2% in the 2nd quarter. Valeo Financial Advisors LLC now owns 20,473 shares of the company’s stock worth $322,000 after purchasing an additional 823 shares in the last quarter. NewEdge Wealth LLC increased its holdings in shares of Rocket Companies by 9.5% during the 1st quarter. NewEdge Wealth LLC now owns 14,457 shares of the company’s stock valued at $206,000 after purchasing an additional 1,253 shares in the last quarter. HB Wealth Management LLC increased its holdings in shares of Rocket Companies by 4.9% during the 2nd quarter. HB Wealth Management LLC now owns 27,040 shares of the company’s stock valued at $426,000 after purchasing an additional 1,258 shares in the last quarter. World Investment Advisors boosted its holdings in Rocket Companies by 5.5% during the first quarter. World Investment Advisors now owns 28,667 shares of the company’s stock worth $409,000 after buying an additional 1,489 shares in the last quarter. Finally, North Dakota State Investment Board boosted its holdings in Rocket Companies by 6.0% during the third quarter. North Dakota State Investment Board now owns 29,669 shares of the company’s stock worth $341,000 after buying an additional 1,668 shares in the last quarter. Hedge funds and other institutional investors own 4.59% of the company’s stock.

Insiders Place Their Bets

In related news, Rocket Mortgage CEO Jesse Bray sold 225,000 shares of the company’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $13.11, for a total transaction of $2,949,750.00. Following the completion of the sale, the insider owned 7,953,027 shares of the company’s stock, valued at approximately $104,264,183.97. This represents a 2.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 450,000 shares of company stock worth $5,687,074 in the last quarter. Insiders own 57.68% of the company’s stock.

Rocket Companies Trading Up 7.4%

Shares of RKT opened at $13.75 on Tuesday. Rocket Companies, Inc. has a 52-week low of $10.18 and a 52-week high of $24.36. The company has a quick ratio of 4.85, a current ratio of 4.85 and a debt-to-equity ratio of 1.16. The firm’s fifty day moving average is $12.37 and its two-hundred day moving average is $14.71. The stock has a market cap of $38.93 billion, a PE ratio of 30.55, a price-to-earnings-growth ratio of 3.46 and a beta of 2.23.

Rocket Companies (NYSE:RKT) last issued its earnings results on Thursday, October 29th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. The business had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Rocket Companies had a net margin of 4.70% and a return on equity of 5.13%. The company’s quarterly revenue was up 37.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.07 earnings per share. Research analysts forecast that Rocket Companies, Inc. will post 0.47 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on RKT. Royal Bank Of Canada dropped their price target on shares of Rocket Companies from $16.00 to $14.00 and set a “sector perform” rating on the stock in a research report on Friday. Weiss Ratings upgraded shares of Rocket Companies from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Wells Fargo & Company set a $13.00 target price on Rocket Companies and gave the company an “equal weight” rating in a research report on Tuesday, October 6th. Benchmark cut their price target on Rocket Companies from $21.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Finally, JPMorgan Chase & Co. upped their price target on Rocket Companies from $12.50 to $13.00 and gave the stock a “neutral” rating in a report on Friday. Eight equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $18.75.

Key Headlines Impacting Rocket Companies

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

• Positive Sentiment: Falling Treasury yields supported housing stocks. Retreating bond yields improved the outlook for rate-sensitive mortgage and housing companies, helping Rocket outperform peers such as Compass and Zillow. Rocket Companies Jumps 9%, Compass and Zillow Surge 8 as Treasury Yields Retreat
• Positive Sentiment: Third-quarter earnings exceeded expectations. Rocket reported adjusted earnings per share of $0.15, ahead of estimates, while revenue growth and profitability remained resilient despite a weak mortgage market. Management also expects $2.1 billion–$2.3 billion of fourth-quarter adjusted revenue and further expense synergies from the Mr. Cooper acquisition. Rocket Companies: Stunning Growth In A Terrible Housing Market
• Positive Sentiment: Options activity suggested increased bullish interest. Investors purchased 90,488 call options, approximately 38% above the average daily call volume, potentially amplifying upward momentum and signaling expectations for further gains.
• Positive Sentiment: Some analysts see additional appreciation potential. JPMorgan reportedly forecast strong price appreciation for Rocket, adding to the positive reaction following the earnings report. JPMorgan Chase Forecasts Strong Price Appreciation for Rocket Companies
• Neutral Sentiment: Technical momentum improved. The stock moved above its 50-day moving average after the earnings-driven gap higher, although it remained below its 200-day average, leaving the broader trend mixed. Rocket Companies Share Price Crosses Above Fifty Day Moving Average
• Negative Sentiment: Analysts raised valuation concerns. Coverage characterized RKT as potentially overvalued even after its profitability improvement, while Royal Bank of Canada reduced its price target. Rocket Companies Stock Looks Overvalued Even After Strong Profitability
• Negative Sentiment: New mortgage originations remain a concern. Weak housing activity and challenging origination trends could limit revenue growth, particularly if mortgage rates remain elevated. Rocket Companies: Struggling With New Originations

Rocket Companies Profile

Rocket Companies, Inc is a Detroit-based financial technology company that operates a portfolio of consumer finance and real estate businesses. Its platform is designed to simplify the homeownership process through digital applications, automated workflows and online customer support.

The company’s principal business is Rocket Mortgage, a residential mortgage lender and servicer offering home purchase, refinance and home equity products. Its broader portfolio includes Rocket Homes, a real estate services platform; Rocket Money, a personal finance app that helps consumers manage subscriptions, budgets and bills; Rocket Loans, which provides personal loans; and Rocket Pro, which supports mortgage brokers and other partners.

Rocket Companies traces its history to 1985, when Dan Gilbert founded Rock Financial.