23,200 Shares in Rocket Companies, Inc. $RKT Purchased by Northwest & Ethical Investments L.P.

Key Points

• Northwest & Ethical Investments L.P. has acquired a new stake in Rocket Companies, purchasing 23,200 shares worth approximately $280,000 in the first quarter.
• Various hedge funds significantly increased their holdings in Rocket Companies, with Mather Group LLC adding 312.2% to its stake, reflecting growing interest in the stock.
• Rocket Companies reported Q2 earnings that exceeded expectations, with $0.04 earnings per share and revenue of $1.36 billion, marking a 4.5% year-over-year increase.

Northwest & Ethical Investments L.P. bought a new stake in Rocket Companies, Inc. (NYSE:RKT - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 23,200 shares of the company's stock, valued at approximately $280,000.

Other hedge funds also recently added to or reduced their stakes in the company. Mather Group LLC. increased its holdings in Rocket Companies by 312.2% in the first quarter. Mather Group LLC. now owns 2,601 shares of the company's stock valued at $31,000 after buying an additional 1,970 shares in the last quarter. Parallel Advisors LLC increased its holdings in Rocket Companies by 302.2% in the first quarter. Parallel Advisors LLC now owns 2,956 shares of the company's stock valued at $36,000 after buying an additional 2,221 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Rocket Companies by 82.4% during the 1st quarter. GAMMA Investing LLC now owns 3,905 shares of the company's stock worth $47,000 after purchasing an additional 1,764 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of Rocket Companies in the 4th quarter valued at $47,000. Finally, Signaturefd LLC lifted its holdings in shares of Rocket Companies by 147.1% during the 1st quarter. Signaturefd LLC now owns 4,372 shares of the company's stock valued at $53,000 after acquiring an additional 2,603 shares in the last quarter. 4.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on RKT shares. Keefe, Bruyette & Woods boosted their price objective on shares of Rocket Companies from $14.00 to $15.00 and gave the stock a "market perform" rating in a report on Tuesday, August 5th. Wedbush reiterated a "neutral" rating and issued a $12.00 price objective (down previously from $13.00) on shares of Rocket Companies in a report on Friday, May 9th. BTIG Research upgraded shares of Rocket Companies to a "strong-buy" rating in a report on Tuesday. The Goldman Sachs Group boosted their price objective on shares of Rocket Companies from $14.00 to $16.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. Finally, Morgan Stanley started coverage on shares of Rocket Companies in a research report on Thursday, August 14th. They issued an "equal weight" rating and a $16.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Rocket Companies presently has an average rating of "Hold" and an average price target of $15.81.

Rocket Companies Price Performance

Shares of NYSE:RKT opened at $17.7850 on Thursday. The company has a quick ratio of 18.74, a current ratio of 18.74 and a debt-to-equity ratio of 2.36. Rocket Companies, Inc. has a fifty-two week low of $10.06 and a fifty-two week high of $21.38. The firm has a 50-day simple moving average of $15.31 and a 200 day simple moving average of $13.83. The company has a market cap of $37.43 billion, a PE ratio of -355.70 and a beta of 2.28.

Rocket Companies (NYSE:RKT - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.01. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.28 billion. Rocket Companies had a negative net margin of 0.01% and a positive return on equity of 3.18%. Rocket Companies's revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.06 EPS. Rocket Companies has set its Q3 2025 guidance at EPS. On average, sell-side analysts anticipate that Rocket Companies, Inc. will post 0.15 EPS for the current year.

About Rocket Companies

Rocket Companies, Inc, a fintech holding company, provides mortgage lending, title and settlement services, and other financial technology services in the United States and Canada. It operates through two segments, Direct to Consumer and Partner Network. The company's solutions include Rocket Mortgage, a mortgage lender; Amrock that provides title insurance, property valuation, and settlement services; Rocket Homes, a home search platform and real estate agent referral network, which offers technology-enabled services to support the home buying and selling experience; and Rocket Loans, an online-based personal loans business.

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