81,816 Shares in Rocket Companies, Inc. $RKT Bought by Universal Beteiligungs und Servicegesellschaft mbH

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Rocket Companies (RKT) of 81,816 shares valued at about $1.584 million during the fourth quarter.
• Several large investors materially increased stakes in RKT in the third quarter — notably ValueAct added ~10.27M shares to hold 25.40M and Vanguard added ~5.23M to hold 22.95M, while Durable Capital and Fred Alger also built sizable positions.
• Rocket beat the quarter with EPS of $0.11 (vs. $0.09 est.) and revenue of $2.44B (up 52.2% YoY), but analyst sentiment is mixed with a consensus "Hold" rating and an average price target of $20.40.

Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Rocket Companies, Inc. (NYSE:RKT - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 81,816 shares of the company's stock, valued at approximately $1,584,000.

A number of other large investors also recently added to or reduced their stakes in the business. ValueAct Holdings L.P. raised its position in Rocket Companies by 67.9% in the 3rd 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 period. Vanguard Group Inc. raised its position in Rocket Companies by 29.5% in the 3rd quarter. Vanguard Group Inc. now owns 22,945,500 shares of the company's stock worth $444,684,000 after purchasing an additional 5,226,931 shares during the period. Durable Capital Partners LP purchased a new position in Rocket Companies in the 3rd quarter worth $213,010,000. Wellington Management Group LLP raised its position in Rocket Companies by 30.6% in the 3rd quarter. Wellington Management Group LLP now owns 6,298,220 shares of the company's stock worth $122,060,000 after purchasing an additional 1,474,040 shares during the period. Finally, Fred Alger Management LLC raised its position in Rocket Companies by 7,412.6% in the 3rd 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 period. Hedge funds and other institutional investors own 4.59% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Compass Point assumed coverage on shares of Rocket Companies in a research report on Tuesday, March 10th. They issued a "buy" rating and a $21.00 target price on the stock. Barclays upgraded shares of Rocket Companies from an "equal weight" rating to an "overweight" rating and decreased their target price for the stock from $22.00 to $19.00 in a research report on Monday, April 6th. JPMorgan Chase & Co. decreased their target price on shares of Rocket Companies from $24.00 to $16.50 and set a "neutral" rating on the stock in a research report on Thursday, April 9th. Zacks Research cut shares of Rocket Companies from a "hold" rating to a "strong sell" rating in a research report on Monday, April 13th. Finally, Stephens initiated coverage on shares of Rocket Companies in a research report on Thursday, April 23rd. They issued an "overweight" rating and a $22.50 price objective on the stock. Nine equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $20.40.

Rocket Companies Price Performance

RKT stock opened at $14.65 on Friday. The firm's 50-day moving average price is $15.36 and its two-hundred day moving average price is $17.74. Rocket Companies, Inc. has a 12-month low of $11.08 and a 12-month high of $24.36. The stock has a market capitalization of $41.31 billion, a price-to-earnings ratio of -112.70 and a beta of 2.23. The company has a current ratio of 70.90, a quick ratio of 70.90 and a debt-to-equity ratio of 1.07.

Rocket Companies (NYSE:RKT - Get Free Report) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.09 by $0.02. Rocket Companies had a negative net margin of 1.02% and a positive return on equity of 3.04%. The firm had revenue of $2.44 billion for the quarter, compared to analysts' expectations of $2.24 billion. During the same quarter in the previous year, the company earned $0.04 earnings per share. The company's revenue for the quarter was up 52.2% compared to the same quarter last year. As a group, equities analysts predict that Rocket Companies, Inc. will post 0.65 earnings per share for the current year.

About Rocket Companies

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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