46,105 Shares in Rocket Companies, Inc. $RKT Bought by Bank of Hawaii

Bank of Hawaii bought a new stake in Rocket Companies, Inc. (NYSE:RKT) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 46,105 shares of the company’s stock, valued at approximately $894,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brooktree Capital Management grew its holdings in shares of Rocket Companies by 27.5% in the 3rd quarter. Brooktree Capital Management now owns 148,653 shares of the company’s stock valued at $2,881,000 after buying an additional 32,088 shares during the period. Cibc World Market Inc. bought a new position in Rocket Companies during the third quarter worth about $2,689,000. Udine Wealth Management Inc. lifted its holdings in Rocket Companies by 86.1% during the third quarter. Udine Wealth Management Inc. now owns 168,070 shares of the company’s stock worth $3,257,000 after acquiring an additional 77,736 shares in the last quarter. Clifford Capital Partners LLC acquired a new position in Rocket Companies in the second quarter valued at about $11,487,000. Finally, Thames Capital Management LLC increased its holdings in shares of Rocket Companies by 54.3% in the third quarter. Thames Capital Management LLC now owns 1,106,003 shares of the company’s stock worth $21,434,000 after acquiring an additional 389,101 shares in the last quarter. Institutional investors own 4.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods lifted their price objective on Rocket Companies from $18.00 to $20.00 and gave the company a “market perform” rating in a report on Thursday, December 18th. JPMorgan Chase & Co. initiated coverage on Rocket Companies in a research note on Monday, January 12th. They issued a “neutral” rating and a $24.00 price target on the stock. Jefferies Financial Group started coverage on Rocket Companies in a research report on Friday, December 19th. They issued a “buy” rating and a $25.00 target price on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of Rocket Companies in a research note on Monday, December 29th. Finally, Compass Point assumed coverage on Rocket Companies in a report on Tuesday. They set a “buy” rating and a $21.00 target price on the stock. Six 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 company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $20.67.

Insider Buying and Selling at Rocket Companies

In other news, Director Matthew Rizik sold 2,500 shares of the company’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 transaction of $57,475.00. Following the completion of the sale, the director owned 1,038,536 shares of the company’s stock, valued at approximately $23,875,942.64. This represents a 0.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 22,500 shares of company stock worth $453,775. Corporate insiders own 92.64% of the company’s stock.

Rocket Companies Stock Down 3.1%

NYSE RKT opened at $14.14 on Friday. The company has a current ratio of 70.90, a quick ratio of 70.90 and a debt-to-equity ratio of 1.07. The company has a market cap of $29.75 billion, a price-to-earnings ratio of -108.73 and a beta of 2.30. The company has a 50 day moving average of $19.22 and a 200-day moving average of $18.72. Rocket Companies, Inc. has a 1-year low of $10.94 and a 1-year high of $24.36.

Rocket Companies (NYSE:RKT) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. Rocket Companies had a positive return on equity of 3.04% and a negative net margin of 1.02%.The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the prior year, the business posted $0.04 earnings per share. The firm’s quarterly revenue was up 52.2% compared to the same quarter last year. On average, equities research 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 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.