Anson Funds Management LP Makes New Investment in Rocket Companies, Inc. $RKT

Anson Funds Management LP purchased a new stake in Rocket Companies, Inc. (NYSE:RKT - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 165,000 shares of the company's stock, valued at approximately $2,351,000.

Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in Rocket Companies by 280.3% in the fourth quarter. Vanguard Group Inc. now owns 87,256,540 shares of the company's stock valued at $1,689,287,000 after purchasing an additional 64,311,040 shares during the period. Prescott Group Capital Management L.L.C. acquired a new position in shares of Rocket Companies during the fourth quarter worth about $4,259,000. KBC Group NV purchased a new stake in shares of Rocket Companies in the fourth quarter worth about $2,857,000. J. Safra Sarasin Holding AG boosted its position in shares of Rocket Companies by 765.6% in the fourth quarter. J. Safra Sarasin Holding AG now owns 345,465 shares of the company's stock worth $6,688,000 after buying an additional 305,555 shares during the period. Finally, Andra AP fonden grew its stake in shares of Rocket Companies by 48.0% in the first quarter. Andra AP fonden now owns 729,357 shares of the company's stock valued at $10,393,000 after buying an additional 236,632 shares in the last quarter. 4.59% of the stock is owned by hedge funds and other institutional investors.

Rocket Companies Stock Performance

Shares of RKT opened at $13.69 on Thursday. The stock has a market capitalization of $38.75 billion, a PE ratio of 273.88 and a beta of 2.16. The business's fifty day moving average price is $14.08 and its 200 day moving average price is $15.89. The company has a debt-to-equity ratio of 1.13, a current ratio of 4.37 and a quick ratio of 4.37. Rocket Companies, Inc. has a 12-month low of $12.17 and a 12-month high of $24.36.

Rocket Companies (NYSE:RKT - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.03. The firm had revenue of $2.82 billion during the quarter, compared to analyst estimates of $2.76 billion. Rocket Companies had a net margin of 2.78% and a return on equity of 4.30%. The firm's revenue for the quarter was up 167.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.04 earnings per share. Equities research analysts forecast that Rocket Companies, Inc. will post 0.54 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Weiss Ratings upgraded Rocket Companies from a "sell (d)" rating to a "hold (c)" rating in a report on Wednesday, May 13th. Stephens initiated coverage on shares of Rocket Companies in a research note on Thursday, April 23rd. They set an "overweight" rating and a $22.50 price objective on the stock. JPMorgan Chase & Co. reduced their target price on shares of Rocket Companies from $16.00 to $15.50 and set a "neutral" rating on the stock in a research report on Monday, July 13th. Royal Bank Of Canada restated a "sector perform" rating and issued a $20.00 target price on shares of Rocket Companies in a research note on Monday, May 11th. Finally, Morgan Stanley raised shares of Rocket Companies from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $18.00 to $19.00 in a report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $20.73.

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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