Maryland State Retirement & Pension System Invests $200,000 in Rocket Companies, Inc. $RKT

Maryland State Retirement & Pension System purchased a new stake in shares of Rocket Companies, Inc. (NYSE:RKT) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 14,090 shares of the company’s stock, valued at approximately $200,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Wealthcare Advisory Partners LLC grew its position in Rocket Companies by 76.0% during the second quarter. Wealthcare Advisory Partners LLC now owns 50,291 shares of the company’s stock valued at $713,000 after buying an additional 21,711 shares during the period. Hennessy Advisors Inc. bought a new position in Rocket Companies during the second quarter valued at about $851,000. Patriot Financial Group Insurance Agency LLC bought a new position in Rocket Companies during the second quarter valued at about $341,000. Truist Financial Corp grew its position in Rocket Companies by 56.4% during the second quarter. Truist Financial Corp now owns 15,806 shares of the company’s stock valued at $224,000 after buying an additional 5,697 shares during the period. Finally, Venture Visionary Partners LLC bought a new position in Rocket Companies during the second quarter valued at about $586,000. Institutional investors own 4.59% of the company’s stock.

Wall Street Analyst Weigh In

RKT has been the subject of several research reports. Keefe, Bruyette & Woods increased their price target on shares of Rocket Companies from $14.00 to $15.00 and gave the company a “market perform” rating in a research report on Tuesday, August 5th. Jefferies Financial Group upped their price objective on shares of Rocket Companies from $11.50 to $14.00 and gave the company a “hold” rating in a report on Tuesday, July 22nd. The Goldman Sachs Group upped their price objective on shares of Rocket Companies from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Wednesday, July 2nd. Royal Bank Of Canada upped their price objective on shares of Rocket Companies from $17.00 to $20.00 and gave the company a “sector perform” rating in a report on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Rocket Companies in a report on Monday. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, Rocket Companies presently has an average rating of “Reduce” and an average target price of $17.12.

Rocket Companies Trading Up 2.8%

Shares of Rocket Companies stock opened at $16.93 on Wednesday. Rocket Companies, Inc. has a 12-month low of $10.06 and a 12-month high of $22.56. The company has a market cap of $35.62 billion, a price-to-earnings ratio of -338.50 and a beta of 2.23. 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 company’s 50-day moving average price is $18.74 and its 200-day moving average price is $15.28.

Rocket Companies (NYSE:RKT) last announced its quarterly earnings results 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 negative net margin of 0.01% and a positive return on equity of 3.18%. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the prior year, the firm posted $0.06 earnings per share. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. Rocket Companies has set its Q3 2025 guidance at EPS. On average, equities analysts expect that Rocket Companies, Inc. will post 0.15 earnings per share for the current fiscal year.

Rocket Companies Company 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.