147,569 Shares in Rocket Companies, Inc. $RKT Purchased by KBC Group NV

Key Points

• KBC Group NV established a new position in Rocket Companies in Q4 by purchasing 147,569 shares, valued at approximately $2.86 million.
• Rocket beat Q4 expectations with EPS of $0.11 vs. $0.09 and revenue of $2.44B (up 52.2% YoY), yet the stock shows a negative P/E (-128.88) and carries a consensus Hold rating with a $20.25 target.

KBC Group NV bought a new position in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 147,569 shares of the company's stock, valued at approximately $2,857,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. ORG Partners LLC increased its stake in Rocket Companies by 22.3% during the fourth quarter. ORG Partners LLC now owns 2,857 shares of the company's stock worth $55,000 after acquiring an additional 520 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Rocket Companies by 3.5% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 18,817 shares of the company's stock worth $365,000 after purchasing an additional 636 shares during the last quarter. Miller Wealth Advisors LLC increased 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 purchasing an additional 650 shares during the last quarter. Parallel Advisors LLC raised its holdings in Rocket Companies by 26.1% in the 3rd quarter. Parallel Advisors LLC now owns 3,267 shares of the company's stock valued at $63,000 after buying an additional 677 shares during the period. Finally, Amundi raised its holdings in Rocket Companies by 2.3% in the 2nd quarter. Amundi now owns 34,170 shares of the company's stock valued at $498,000 after buying an additional 754 shares during the period. 4.59% of the stock is currently owned by institutional investors and hedge funds.

Rocket Companies Stock Performance

NYSE RKT opened at $16.76 on Monday. 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 company has a market cap of $47.25 billion, a P/E ratio of -128.88 and a beta of 2.34. The stock has a 50-day moving average of $15.95 and a two-hundred day moving average of $17.83. Rocket Companies, Inc. has a 1-year low of $11.08 and a 1-year high of $24.36.

Rocket Companies (NYSE:RKT - Get Free Report) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.11 earnings per share (EPS) for the quarter, topping 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 negative net margin of 1.02% and a positive return on equity of 3.04%. The business's quarterly revenue was up 52.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.04 earnings per share. As a group, analysts anticipate that Rocket Companies, Inc. will post 0.15 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Rocket Companies in a research note on Monday, December 29th. Compass Point began coverage on shares of Rocket Companies in a report on Tuesday, March 10th. They issued a "buy" rating and a $21.00 price objective on the stock. Barclays upgraded shares of Rocket Companies from an "equal weight" rating to an "overweight" rating and decreased their price objective for the stock from $22.00 to $19.00 in a report on Monday, April 6th. Zacks Research downgraded shares of Rocket Companies from a "hold" rating to a "strong sell" rating in a report on Monday, April 13th. Finally, Wells Fargo & Company cut their target price on Rocket Companies from $19.00 to $17.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 9th. Eight investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $20.25.

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.

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