27,604 Shares in Rocket Companies, Inc. $RKT Acquired by CAP Partners LLC

CAP Partners LLC acquired a new stake in Rocket Companies, Inc. (NYSE:RKT) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 27,604 shares of the company’s stock, valued at approximately $535,000.

A number of other institutional investors have also made changes to their positions in RKT. Miller Wealth Advisors LLC increased its stake in Rocket Companies by 65.0% during the 3rd quarter. Miller Wealth Advisors LLC now owns 1,650 shares of the company’s stock worth $32,000 after buying an additional 650 shares during the period. North Capital Inc. boosted its position in Rocket Companies by 287.2% during the 2nd quarter. North Capital Inc. now owns 1,820 shares of the company’s stock valued at $26,000 after purchasing an additional 1,350 shares during the period. Geneos Wealth Management Inc. acquired a new position in Rocket Companies during the 3rd quarter worth $38,000. CX Institutional acquired a new position in Rocket Companies during the 3rd quarter valued at about $39,000. Finally, SouthState Corp boosted its stake in Rocket Companies by 2,044.8% during the 2nd quarter. SouthState Corp now owns 2,059 shares of the company’s stock valued at $29,000 after purchasing an additional 1,963 shares in the last quarter. 4.59% of the stock is owned by institutional investors and hedge funds.

Rocket Companies Trading Down 0.8%

Shares of RKT stock opened at $23.25 on Monday. Rocket Companies, Inc. has a 1 year low of $10.94 and a 1 year high of $24.36. The stock has a 50 day simple moving average of $19.44 and a 200 day simple moving average of $18.07. The company has a current ratio of 19.68, a quick ratio of 19.68 and a debt-to-equity ratio of 2.16. The stock has a market cap of $48.93 billion, a P/E ratio of 290.66 and a beta of 2.29.

Rocket Companies (NYSE:RKT) last released its quarterly earnings data on Thursday, October 30th. The company reported $0.07 earnings per share for the quarter, meeting the consensus estimate of $0.07. The company had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.65 billion. Rocket Companies had a negative net margin of 1.77% and a positive return on equity of 2.83%. Rocket Companies’s revenue for the quarter was up 148.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.08 EPS. On average, research analysts predict that Rocket Companies, Inc. will post 0.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on RKT shares. The Goldman Sachs Group restated a “neutral” rating and issued a $22.00 price target (up previously from $16.00) on shares of Rocket Companies in a research report on Wednesday, October 29th. Zacks Research upgraded shares of Rocket Companies from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 14th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Rocket Companies in a research note on Monday, October 13th. Morgan Stanley lifted their price target on shares of Rocket Companies from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Monday, September 29th. Finally, JPMorgan Chase & Co. began coverage on shares of Rocket Companies in a research report on Monday, January 12th. They issued a “neutral” rating and a $24.00 price target on the stock. Five equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given 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 $20.50.

Insider Activity

In other Rocket Companies news, Director Matthew Rizik sold 2,500 shares of the firm’s stock in a transaction dated 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 $23,875,942.64. This trade represents a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 40,000 shares of company stock valued at $779,425 in the last quarter. Company insiders own 92.64% of the company’s stock.

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.