Rocket Companies, Inc. $RKT Shares Purchased by MassMutual Private Wealth & Trust FSB

MassMutual Private Wealth & Trust FSB raised its holdings in Rocket Companies, Inc. (NYSE:RKT) by 12,104.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,717 shares of the company’s stock after acquiring an additional 42,367 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Rocket Companies were worth $827,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in RKT. 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 worth $2,881,000 after acquiring an additional 32,088 shares during the last quarter. Cibc World Market Inc. purchased a new stake in shares of Rocket Companies during the third quarter valued at $2,689,000. Udine Wealth Management Inc. boosted its position in shares of Rocket Companies by 86.1% in the 3rd quarter. Udine Wealth Management Inc. now owns 168,070 shares of the company’s stock valued at $3,257,000 after purchasing an additional 77,736 shares during the period. Clifford Capital Partners LLC purchased a new position in Rocket Companies in the 2nd quarter worth about $11,487,000. Finally, Thames Capital Management LLC increased its stake in Rocket Companies by 54.3% in the 3rd quarter. Thames Capital Management LLC now owns 1,106,003 shares of the company’s stock worth $21,434,000 after purchasing an additional 389,101 shares in the last quarter. Institutional investors own 4.59% of the company’s stock.

Rocket Companies Trading Down 6.9%

NYSE:RKT opened at $13.64 on Monday. The stock has a market cap of $38.45 billion, a PE ratio of -104.88 and a beta of 2.30. Rocket Companies, Inc. has a fifty-two week low of $10.94 and a fifty-two week high of $24.36. The company has a debt-to-equity ratio of 1.07, a current ratio of 70.90 and a quick ratio of 70.90. The stock’s 50-day moving average is $18.50 and its two-hundred day moving average is $18.61.

Rocket Companies (NYSE:RKT) last posted 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. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.24 billion. Rocket Companies had a negative net margin of 1.02% and a positive return on equity of 3.04%. The firm’s revenue was up 52.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.04 earnings per share. As a group, equities research analysts forecast that Rocket Companies, Inc. will post 0.15 earnings per share for the current fiscal year.

Insider Transactions at Rocket Companies

In other Rocket Companies news, Director Matthew Rizik sold 2,500 shares of the 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 sale, the director owned 1,038,536 shares in the company, valued at $23,875,942.64. This represents a 0.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders have sold 15,000 shares of company stock valued at $312,750. 92.64% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have commented on RKT. Jefferies Financial Group began coverage on shares of Rocket Companies in a report on Friday, December 19th. They issued a “buy” rating and a $25.00 target price for the company. Compass Point assumed coverage on shares of Rocket Companies in a report on Tuesday, March 10th. They set a “buy” rating and a $21.00 price target on the stock. Wells Fargo & Company raised their price objective on shares of Rocket Companies from $17.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Friday, February 27th. JPMorgan Chase & Co. assumed coverage on shares of Rocket Companies in a research report on Monday, January 12th. They set a “neutral” rating and a $24.00 price objective on the stock. Finally, Keefe, Bruyette & Woods raised shares of Rocket Companies from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $20.00 to $22.00 in a research note on Monday, March 16th. Seven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $20.80.

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.