Allspring Global Investments Holdings LLC Makes New $44.10 Million Investment in Rocket Companies, Inc. $RKT

Key Points

• Allspring Global Investments Holdings LLC has made a new investment of $44.10 million in Rocket Companies, acquiring over 3 million shares, which represents approximately 0.15% ownership of the firm.
• Rocket Companies reported an EPS of $0.04 for the last quarter, exceeding analysts' expectations, and experienced a 4.5% increase in revenue year-over-year, reaching $1.36 billion.
• Recent analyst ratings for Rocket Companies show a mix of opinions, with a range of price targets, including a boost from Royal Bank Of Canada to $20.00 and a current average target price of $17.12.

Allspring Global Investments Holdings LLC bought a new position in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 3,045,719 shares of the company's stock, valued at approximately $44,102,000. Allspring Global Investments Holdings LLC owned about 0.15% of Rocket Companies as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mather Group LLC. boosted its stake in 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 purchasing an additional 1,970 shares during the last quarter. Brooklyn Investment Group boosted its stake in 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 purchasing an additional 2,425 shares during the last quarter. GAMMA Investing LLC boosted its stake in 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 during the last quarter. Signaturefd LLC boosted its stake in 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 purchasing an additional 2,603 shares during the last quarter. Finally, US Bancorp DE boosted its stake in Rocket Companies by 81.6% during the 1st quarter. US Bancorp DE now owns 6,286 shares of the company's stock worth $76,000 after purchasing an additional 2,824 shares during the last quarter. Institutional investors and hedge funds own 4.59% of the company's stock.

Rocket Companies Trading Up 2.8%

NYSE RKT opened at $16.93 on Wednesday. The firm's 50-day moving average is $18.74 and its two-hundred day moving average is $15.28. Rocket Companies, Inc. has a 12 month low of $10.06 and a 12 month high of $22.56. The company has a debt-to-equity ratio of 2.36, a current ratio of 18.74 and a quick ratio of 18.74. The stock has a market capitalization of $35.62 billion, a P/E ratio of -338.50 and a beta of 2.23.

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

Analyst Upgrades and Downgrades

RKT has been the topic of several recent research reports. UBS Group set a $17.00 price target on shares of Rocket Companies and gave the company a "neutral" rating in a research report on Friday. Royal Bank Of Canada boosted their price target on shares of Rocket Companies from $17.00 to $20.00 and gave the company a "sector perform" rating in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Rocket Companies in a research report on Monday. Jefferies Financial Group boosted their price target on shares of Rocket Companies from $11.50 to $14.00 and gave the company a "hold" rating in a research report on Tuesday, July 22nd. Finally, The Goldman Sachs Group boosted their price target on shares of Rocket Companies from $14.00 to $16.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. Three investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average target price of $17.12.

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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