Hsbc Holdings PLC Sells 124,681 Shares of Rocket Companies, Inc. $RKT

Hsbc Holdings PLC trimmed its stake in shares of Rocket Companies, Inc. (NYSE:RKT) by 85.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 20,804 shares of the company’s stock after selling 124,681 shares during the quarter. Hsbc Holdings PLC’s holdings in Rocket Companies were worth $251,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RKT. Envestnet Asset Management Inc. raised its stake in shares of Rocket Companies by 34.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 22,413 shares of the company’s stock valued at $252,000 after purchasing an additional 5,710 shares during the period. Dimensional Fund Advisors LP increased its stake in Rocket Companies by 7.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 247,778 shares of the company’s stock worth $2,790,000 after acquiring an additional 18,169 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Rocket Companies by 8.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 81,613 shares of the company’s stock worth $919,000 after acquiring an additional 6,622 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Rocket Companies by 9.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 27,825 shares of the company’s stock worth $313,000 after acquiring an additional 2,437 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Rocket Companies by 8.1% in the 4th quarter. Northern Trust Corp now owns 618,703 shares of the company’s stock worth $6,967,000 after acquiring an additional 46,291 shares during the last quarter. 4.59% of the stock is currently owned by institutional investors.

Rocket Companies Price Performance

RKT opened at $19.12 on Friday. The stock has a 50-day moving average price of $16.21 and a 200-day moving average price of $14.25. Rocket Companies, Inc. has a 12-month low of $10.06 and a 12-month high of $21.38. The company has a current ratio of 18.74, a quick ratio of 18.74 and a debt-to-equity ratio of 2.36. The stock has a market capitalization of $40.24 billion, a P/E ratio of -382.42 and a beta of 2.30.

Rocket Companies (NYSE:RKT) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. Rocket Companies had a positive return on equity of 3.18% and a negative net margin of 0.01%.The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the prior year, the business earned $0.06 EPS. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. Rocket Companies has set its Q3 2025 guidance at EPS. Equities analysts predict that Rocket Companies, Inc. will post 0.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. UBS Group set a $16.00 target price on Rocket Companies and gave the stock a “neutral” rating in a research note on Tuesday, August 5th. Morgan Stanley assumed coverage on Rocket Companies in a research note on Thursday, August 14th. They issued an “equal weight” rating and a $16.00 target price on the stock. Jefferies Financial Group upped their target price on Rocket Companies from $11.50 to $14.00 and gave the stock a “hold” rating in a research note on Tuesday, July 22nd. BTIG Research upgraded Rocket Companies to a “strong-buy” rating in a research note on Tuesday, August 19th. Finally, Wedbush restated a “neutral” rating and issued a $12.00 target price (down from $13.00) on shares of Rocket Companies in a research note on Friday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Rocket Companies presently has a consensus rating of “Hold” and a consensus price target of $15.81.

Rocket Companies Profile

Rocket Companies, Inc, a fintech holding company, provides mortgage lending, title and settlement services, and other financial technology services in the United States and Canada. It operates through two segments, Direct to Consumer and Partner Network. The company’s solutions include Rocket Mortgage, a mortgage lender; Amrock that provides title insurance, property valuation, and settlement services; Rocket Homes, a home search platform and real estate agent referral network, which offers technology-enabled services to support the home buying and selling experience; and Rocket Loans, an online-based personal loans business.