445,838 Shares in Rocket Companies, Inc. $RKT Acquired by Woodline Partners LP

Key Points

• Woodline Partners LP acquired 445,838 shares of Rocket Companies, Inc. valued at approximately $5.38 million in the first quarter of 2023.
• Institutional investors own 4.59% of Rocket Companies, with notable increases from firms like Mather Group LLC, which raised its stake by 312.2%.
• Rocket Companies reported an EPS of $0.04, exceeding analyst expectations, but maintains a broad range of ratings with an average consensus of "Hold" and target price of $16.50.

Woodline Partners LP purchased a new position in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 445,838 shares of the company's stock, valued at approximately $5,381,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of RKT. Mather Group LLC. lifted its stake in shares of Rocket Companies by 312.2% during the 1st quarter. Mather Group LLC. now owns 2,601 shares of the company's stock worth $31,000 after acquiring an additional 1,970 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of Rocket Companies by 302.2% during the 1st quarter. Parallel Advisors LLC now owns 2,956 shares of the company's stock worth $36,000 after acquiring an additional 2,221 shares during the last quarter. Brooklyn Investment Group lifted its stake in shares of Rocket Companies by 251.3% during the 1st quarter. Brooklyn Investment Group now owns 3,390 shares of the company's stock worth $41,000 after acquiring an additional 2,425 shares during the last quarter. GAMMA Investing LLC lifted 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 acquiring an additional 1,764 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in shares of Rocket Companies by 147.1% during the 1st quarter. Signaturefd LLC now owns 4,372 shares of the company's stock worth $53,000 after acquiring an additional 2,603 shares during the last quarter. 4.59% of the stock is owned by institutional investors.

Rocket Companies Stock Performance

Shares of Rocket Companies stock opened at $21.12 on Friday. The company has a market capitalization of $44.45 billion, a PE ratio of -422.40 and a beta of 2.30. The company has a debt-to-equity ratio of 2.36, a quick ratio of 18.74 and a current ratio of 18.74. The company has a 50-day simple moving average of $16.98 and a two-hundred day simple moving average of $14.56. Rocket Companies, Inc. has a one year low of $10.06 and a one year high of $22.56.

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on RKT. Morgan Stanley began coverage on Rocket Companies in a research note on Thursday, August 14th. They set an "equal weight" rating and a $16.00 price target for the company. Jefferies Financial Group raised their price objective on Rocket Companies from $11.50 to $14.00 and gave the stock a "hold" rating in a report on Tuesday, July 22nd. UBS Group set a $16.00 price objective on Rocket Companies and gave the stock a "neutral" rating in a report on Tuesday, August 5th. The Goldman Sachs Group raised their price objective on Rocket Companies from $14.00 to $16.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. Finally, BTIG Research upgraded Rocket Companies to a "strong-buy" rating in a report on Tuesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Rocket Companies has an average rating of "Hold" and a consensus target price of $16.50.

Rocket Companies Company Profile

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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