268,200 Shares in Rocket Companies, Inc. $RKT Purchased by Danske Bank A S

Key Points

• Danske Bank bought a new stake in Rocket Companies of 268,200 shares in Q4, valued at about $5.19 million.
• Several large institutions notably increased positions—Vanguard added 64,311,040 shares (up 280.3%) and now owns 87,256,540 shares worth roughly $1.69 billion, while ValueAct and Fred Alger also made multi‑million‑share purchases.
• Rocket beat Q results with $0.11 EPS vs. $0.09 expected and revenue of $2.44 billion (up 52.2% YoY), but analysts’ consensus remains a "Hold" with an average target of $20.40.

Danske Bank A S bought a new stake in Rocket Companies, Inc. (NYSE:RKT - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 268,200 shares of the company's stock, valued at approximately $5,192,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Rocket Companies by 280.3% during the 4th quarter. Vanguard Group Inc. now owns 87,256,540 shares of the company's stock valued at $1,689,287,000 after acquiring an additional 64,311,040 shares during the period. Durable Capital Partners LP acquired a new stake in shares of Rocket Companies in the third quarter worth $213,010,000. ValueAct Holdings L.P. raised its holdings in shares of Rocket Companies by 67.9% during the third quarter. ValueAct Holdings L.P. now owns 25,395,627 shares of the company's stock worth $492,167,000 after purchasing an additional 10,270,018 shares during the last quarter. Fred Alger Management LLC raised its holdings in shares of Rocket Companies by 7,412.6% during the third quarter. Fred Alger Management LLC now owns 6,078,800 shares of the company's stock worth $117,807,000 after purchasing an additional 5,997,885 shares during the last quarter. Finally, Alyeska Investment Group L.P. lifted its position in Rocket Companies by 229.5% during the third quarter. Alyeska Investment Group L.P. now owns 3,274,519 shares of the company's stock valued at $63,460,000 after purchasing an additional 2,280,631 shares during the period. Institutional investors and hedge funds own 4.59% of the company's stock.

Rocket Companies Stock Performance

Shares of NYSE:RKT opened at $14.10 on Wednesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 70.90 and a quick ratio of 70.90. Rocket Companies, Inc. has a 1 year low of $11.08 and a 1 year high of $24.36. The firm has a market capitalization of $39.77 billion, a PE ratio of -108.49 and a beta of 2.23. The business's 50 day moving average price is $15.28 and its 200-day moving average price is $17.73.

Rocket Companies (NYSE:RKT - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.09 by $0.02. The firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate 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 revenue was up 52.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.04 EPS. As a group, equities research analysts expect that Rocket Companies, Inc. will post 0.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RKT has been the topic of several recent research reports. Barclays raised shares of Rocket Companies from an "equal weight" rating to an "overweight" rating and lowered their price target for the company from $22.00 to $19.00 in a report on Monday, April 6th. Wells Fargo & Company decreased their price objective 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. Citizens Jmp assumed coverage on Rocket Companies in a research note on Wednesday, March 25th. They issued a "market perform" rating on the stock. Keefe, Bruyette & Woods raised Rocket Companies from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $20.00 to $22.00 in a report on Monday, March 16th. Finally, Zacks Research cut Rocket Companies from a "hold" rating to a "strong sell" rating in a research report on Monday, April 13th. Nine research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $20.40.

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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