117,473 Shares in Rocket Companies, Inc. $RKT Acquired by PFG Advisors

Key Points

• PFG Advisors bought a new position of 117,473 shares of Rocket Companies (NYSE:RKT) in Q4, valued at about $2.27 million.
• Rocket Companies beat the latest quarter's estimates with EPS of $0.11 (vs. $0.09) and revenue of $2.44B (up 52.2% YoY), but still posted a negative net margin and a negative P/E (-122.53).
• Analyst sentiment is mixed — MarketBeat shows a consensus "Hold" (8 Buy, 8 Hold, 2 Sell) with an average target of $20.25, while the stock trades near $15.93 (12‑month range $11.08–$24.36).

PFG Advisors bought a new position in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 117,473 shares of the company's stock, valued at approximately $2,274,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cloud Capital Management LLC bought a new position in shares of Rocket Companies during the 3rd quarter worth approximately $25,000. Pinnacle Bancorp Inc. lifted its position in shares of Rocket Companies by 369.7% during the 4th quarter. Pinnacle Bancorp Inc. now owns 1,503 shares of the company's stock worth $29,000 after buying an additional 1,183 shares during the period. Miller Wealth Advisors LLC lifted its position 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 buying an additional 650 shares during the period. Geneos Wealth Management Inc. bought a new position in shares of Rocket Companies during the 3rd quarter worth approximately $38,000. Finally, Sound Income Strategies LLC lifted its position in shares of Rocket Companies by 354.8% during the 4th quarter. Sound Income Strategies LLC now owns 1,974 shares of the company's stock worth $38,000 after buying an additional 1,540 shares during the period. Institutional investors own 4.59% of the company's stock.

Rocket Companies Price Performance

Rocket Companies stock opened at $15.93 on Wednesday. The business's 50-day simple moving average is $15.82 and its 200 day simple moving average is $17.81. The stock has a market cap of $44.92 billion, a price-to-earnings ratio of -122.53 and a beta of 2.34. Rocket Companies, Inc. has a 12-month low of $11.08 and a 12-month high of $24.36. The company has a quick ratio of 70.90, a current ratio of 70.90 and a debt-to-equity ratio of 1.07.

Rocket Companies (NYSE:RKT - Get Free Report) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.02. The business had revenue of $2.44 billion for the quarter, compared to analysts' expectations of $2.24 billion. Rocket Companies had a positive return on equity of 3.04% and a negative net margin of 1.02%.The firm's quarterly revenue was up 52.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.04 earnings per share. As a group, research analysts anticipate that Rocket Companies, Inc. will post 0.66 earnings per share for the current year.

Wall Street Analysts Forecast Growth

RKT has been the subject of several analyst reports. Weiss Ratings restated a "sell (d+)" rating on shares of Rocket Companies in a research report on Monday, December 29th. Citizens Jmp started coverage on Rocket Companies in a research report on Wednesday, March 25th. They set a "market perform" rating for the company. Wells Fargo & Company dropped their price target on Rocket Companies from $19.00 to $17.00 and set an "equal weight" rating for the company in a report on Thursday, April 9th. Barclays raised Rocket Companies from an "equal weight" rating to an "overweight" rating and dropped their price target for the company from $22.00 to $19.00 in a report on Monday, April 6th. Finally, Zacks Research cut Rocket Companies from a "hold" rating to a "strong sell" rating in a report on Monday, April 13th. Eight investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $20.25.

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.

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