Arete Wealth Advisors LLC Acquires Shares of 46,721 Rocket Companies, Inc. $RKT

Key Points

• Arete Wealth Advisors LLC has acquired a new position in Rocket Companies, Inc., purchasing 46,721 shares valued at approximately $564,000 in the first quarter.
• A total of several institutional investors, including Boston Partners and Vanguard Group, have increased their stakes in Rocket Companies, indicating a growing interest in the firm.
• Rocket Companies recently reported earnings of $0.04 per share, surpassing analyst expectations, with a revenue of $1.36 billion for the quarter, up 4.5% from the previous year.

Arete Wealth Advisors LLC purchased a new position in Rocket Companies, Inc. (NYSE:RKT - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 46,721 shares of the company's stock, valued at approximately $564,000.

Other large investors also recently modified their holdings of the company. Mather Group LLC. grew its holdings in shares of Rocket Companies by 312.2% during the first quarter. Mather Group LLC. now owns 2,601 shares of the company's stock worth $31,000 after buying an additional 1,970 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Rocket Companies by 302.2% during the first quarter. Parallel Advisors LLC now owns 2,956 shares of the company's stock worth $36,000 after buying an additional 2,221 shares in the last quarter. Brooklyn Investment Group grew its holdings in shares of Rocket Companies by 251.3% during the first quarter. Brooklyn Investment Group now owns 3,390 shares of the company's stock worth $41,000 after buying an additional 2,425 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Rocket Companies by 82.4% during the first quarter. GAMMA Investing LLC now owns 3,905 shares of the company's stock worth $47,000 after buying an additional 1,764 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in shares of Rocket Companies by 147.1% during the first quarter. Signaturefd LLC now owns 4,372 shares of the company's stock worth $53,000 after buying an additional 2,603 shares in the last quarter. 4.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

RKT has been the subject of a number of research reports. Jefferies Financial Group increased 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. Morgan Stanley initiated coverage on Rocket Companies in a report on Thursday, August 14th. They set an "equal weight" rating and a $16.00 price objective for the company. The Goldman Sachs Group raised their price target on Rocket Companies from $14.00 to $16.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. UBS Group set a $16.00 price target on Rocket Companies and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Finally, Barclays raised 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 research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $16.50.

Rocket Companies Stock Performance

Shares of RKT traded up $0.01 during mid-day trading on Friday, reaching $21.12. The company's stock had a trading volume of 22,586,433 shares, compared to its average volume of 20,659,364. The stock has a market cap of $44.45 billion, a P/E ratio of -422.40 and a beta of 2.30. The business has a 50-day simple moving average of $16.98 and a two-hundred day simple moving average of $14.56. The company has a current ratio of 18.74, a quick ratio of 18.74 and a debt-to-equity ratio of 2.36. Rocket Companies, Inc. has a 1-year low of $10.06 and a 1-year high of $22.56.

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

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.