Baker Chad R Invests $1.93 Million in Rocket Companies, Inc. $RKT

Baker Chad R bought a new stake in Rocket Companies, Inc. (NYSE:RKT) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 96,010 shares of the company’s stock, valued at approximately $1,926,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Cloud Capital Management LLC purchased a new position in Rocket Companies in the 3rd quarter worth approximately $25,000. Miller Wealth Advisors LLC boosted its holdings in shares of 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 purchasing an additional 650 shares during the last quarter. Geneos Wealth Management Inc. purchased a new stake in shares of Rocket Companies in the third quarter valued at approximately $38,000. Newbridge Financial Services Group Inc. increased its holdings in shares of Rocket Companies by 875.0% in the third quarter. Newbridge Financial Services Group Inc. now owns 1,950 shares of the company’s stock valued at $38,000 after purchasing an additional 1,750 shares during the last quarter. Finally, CX Institutional acquired a new stake in shares of Rocket Companies in the third quarter valued at approximately $39,000. 4.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Keefe, Bruyette & Woods raised Rocket Companies from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $20.00 to $22.00 in a research note on Monday, March 16th. Citizens Jmp started coverage on Rocket Companies in a research note on Wednesday. They issued a “market perform” rating for the company. Jefferies Financial Group started coverage on Rocket Companies in a report on Friday, December 19th. They set a “buy” rating and a $25.00 price target on the stock. Barclays set a $22.00 price target on shares of Rocket Companies and gave the company an “equal weight” rating in a research report on Tuesday, January 6th. Finally, Wells Fargo & Company upped their price objective on shares of Rocket Companies from $17.00 to $19.00 and gave the company an “equal weight” rating in a report on Friday, February 27th. Seven research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Rocket Companies currently has an average rating of “Hold” and an average target price of $20.80.

Trending Headlines about Rocket Companies

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

• Positive Sentiment: Mad Money host Jim Cramer said RKT “represents value,” offering a high-profile endorsement that can support investor interest and buying demand. Jim Cramer on Rocket Companies: “I Think It Represents Value”
• Positive Sentiment: Longer-term bullish research pieces argue RKT has upside among large-caps under $30 and note that some analysts still see meaningful upside, supporting the case for accumulation by value-oriented investors. Rocket Companies (RKT) is One of the Best Large Caps Under $30, Here is Why
• Neutral Sentiment: Valuation/coverage pieces are mixed — some ask whether the post-pullback price is justified and present both upside and downside scenarios, which can keep trading range-bound as investors weigh recovery vs. macro risk. Is Rocket Companies (RKT) Price Justified After Recent Share Pullback?
• Neutral Sentiment: Citizens (JMP) initiated coverage with a Market Perform rating — a neutral signal that may limit near-term analyst-driven buying. Citizens Initiates Coverage of Rocket Companies (RKT) with Market Perform Recommendation
• Negative Sentiment: Redfin (powered by Rocket) reports pending home sales fell 1% y/y and mortgage rates have climbed to a ~3-month high (~6.22%), deterring buyers — a direct headwind to Rocket’s mortgage origination volumes and revenue. Market Jitters Drive Mortgage Rates Up, Sending Some Would-Be Homebuyers to the Sidelines
• Negative Sentiment: Reports show a record share of U.S. home sale agreements fell through in February, increasing cancellations — this reduces closings and pressures Rocket’s revenue, margins and growth expectations tied to transaction volumes. Record Home Cancellations Test Rocket Companies Volumes Margins And Growth Expectations
• Negative Sentiment: Opinion pieces listing reasons to avoid RKT add to negative sentiment and can amplify selling pressure among cautious retail investors. 3 Reasons to Avoid RKT and 1 Stock to Buy Instead

Insider Buying and Selling

In other Rocket Companies news, Director Matthew Rizik sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $22.99, for a total value of $57,475.00. Following the completion of the transaction, the director owned 1,038,536 shares of the company’s stock, valued at $23,875,942.64. This trade represents a 0.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Over the last three months, insiders have sold 10,000 shares of company stock valued at $215,700. Company insiders own 92.64% of the company’s stock.

Rocket Companies Stock Down 2.4%

Shares of RKT opened at $13.95 on Friday. The stock has a market capitalization of $39.33 billion, a PE ratio of -107.28 and a beta of 2.30. Rocket Companies, Inc. has a 1 year low of $10.94 and a 1 year high of $24.36. The company has a debt-to-equity ratio of 1.07, a quick ratio of 70.90 and a current ratio of 70.90. The company’s 50-day simple moving average is $17.80 and its 200-day simple moving average is $18.47.

Rocket Companies (NYSE:RKT) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.09 by $0.02. Rocket Companies had a negative net margin of 1.02% and a positive return on equity of 3.04%. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same quarter last year, the firm posted $0.04 earnings per share. The business’s revenue for the quarter was up 52.2% compared to the same quarter last year. Analysts forecast that Rocket Companies, Inc. will post 0.15 earnings per share for the current fiscal year.

Rocket Companies Company 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.