Aragon Global Management LP Invests $646,000 in Rocket Companies, Inc. $RKT

Key Points

• Aragon Global Management LP has invested approximately $646,000 in Rocket Companies, acquiring 53,500 shares, which makes it the firm's 23rd largest investment.
• Rocket Companies' stock price has fluctuated between a 52-week low of $10.06 and a high of $21.38, with recent trading starting at $17.88.
• The company recently posted a quarterly revenue of $1.36 billion, exceeding analysts' expectations and showing a 4.5% increase compared to the same quarter last year.

Aragon Global Management LP acquired a new position in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 53,500 shares of the company's stock, valued at approximately $646,000. Rocket Companies makes up about 0.2% of Aragon Global Management LP's investment portfolio, making the stock its 23rd biggest position.

A number of other institutional investors and hedge funds also recently made changes to their positions in RKT. Mather Group LLC. boosted its position 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 purchasing an additional 1,970 shares in the last quarter. Parallel Advisors LLC boosted its position 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 purchasing an additional 2,221 shares in the last quarter. Brooklyn Investment Group boosted its position 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 purchasing an additional 2,425 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of Rocket Companies during the 4th quarter worth about $47,000. Finally, GAMMA Investing LLC boosted its position 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 purchasing an additional 1,764 shares in the last quarter. Institutional investors own 4.59% of the company's stock.

Rocket Companies Price Performance

Rocket Companies stock opened at $17.88 on Friday. Rocket Companies, Inc. has a 52 week low of $10.06 and a 52 week high of $21.38. The company's 50 day moving average price is $15.87 and its two-hundred day moving average price is $14.07. The company has a quick ratio of 18.74, a current ratio of 18.74 and a debt-to-equity ratio of 2.36. The stock has a market cap of $37.63 billion, a P/E ratio of -357.64 and a beta of 2.28.

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, topping the consensus estimate 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 firm had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.28 billion. During the same quarter last year, the firm earned $0.06 EPS. The company's quarterly revenue was up 4.5% compared to the same quarter last year. Rocket Companies has set its Q3 2025 guidance at EPS. On average, equities analysts predict that Rocket Companies, Inc. will post 0.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on RKT shares. Jefferies Financial Group increased their price objective on shares of Rocket Companies from $11.50 to $14.00 and gave the stock a "hold" rating in a research report on Tuesday, July 22nd. The Goldman Sachs Group increased their price objective on shares of Rocket Companies from $14.00 to $16.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. Wedbush reiterated a "neutral" rating and set a $12.00 price target (down previously from $13.00) on shares of Rocket Companies in a research note on Friday, May 9th. Morgan Stanley started 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. Finally, Barclays lifted their price target on Rocket Companies from $14.00 to $16.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $15.81.

Rocket Companies 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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