ASR Vermogensbeheer N.V. Invests $1.53 Million in Rocket Companies, Inc. $RKT

Key Points

• ASR Vermogensbeheer N.V. initiated a new position in Rocket Companies during the fourth quarter, buying 79,196 shares valued at about $1.53 million.
• Several other hedge funds also increased or started positions in Rocket Companies, and institutional investors now own 4.59% of the stock.
• Rocket Companies recently beat Q1 expectations with $0.15 EPS and $2.82 billion in revenue, though analysts still hold a “Hold” consensus with an average price target of $21.

ASR Vermogensbeheer N.V. bought a new position in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 79,196 shares of the company's stock, valued at approximately $1,533,000.

Several other hedge funds also recently made changes to their positions in the business. Bluebird Wealth Management LLC bought a new position in shares of Rocket Companies during the fourth quarter worth approximately $507,000. Sequoia Financial Advisors LLC increased its position in shares of Rocket Companies by 305.8% in the fourth quarter. Sequoia Financial Advisors LLC now owns 42,142 shares of the company's stock worth $816,000 after purchasing an additional 31,758 shares during the period. Praxis Investment Management Inc. increased its position in shares of Rocket Companies by 118.8% in the fourth quarter. Praxis Investment Management Inc. now owns 35,758 shares of the company's stock worth $692,000 after purchasing an additional 19,416 shares during the period. Encompass More Asset Management bought a new position in shares of Rocket Companies in the fourth quarter worth $630,000. Finally, Equitable Trust Co. increased its position in shares of Rocket Companies by 53.5% in the fourth quarter. Equitable Trust Co. now owns 26,886 shares of the company's stock worth $521,000 after purchasing an additional 9,376 shares during the period. 4.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

RKT has been the topic of a number of recent analyst reports. Stephens initiated coverage on shares of Rocket Companies in a research note on Thursday, April 23rd. They issued an "overweight" rating and a $22.50 price objective on the stock. Zacks Research cut shares of Rocket Companies from a "hold" rating to a "strong sell" rating in a research note on Monday, April 13th. JPMorgan Chase & Co. decreased their price objective on shares of Rocket Companies from $24.00 to $16.50 and set a "neutral" rating on the stock in a research note on Thursday, April 9th. Wells Fargo & Company decreased their price objective on shares of Rocket Companies from $19.00 to $17.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 9th. Finally, Barclays upgraded Rocket Companies from an "equal weight" rating to an "overweight" rating and decreased their target price for the company from $22.00 to $19.00 in a research report on Monday, April 6th. Nine analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $21.00.

Rocket Companies Stock Performance

NYSE RKT opened at $15.69 on Monday. The firm's fifty day moving average price is $15.16 and its two-hundred day moving average price is $17.70. The stock has a market cap of $44.24 billion, a PE ratio of 313.76 and a beta of 2.23. Rocket Companies, Inc. has a fifty-two week low of $11.08 and a fifty-two week high of $24.36. The company has a debt-to-equity ratio of 1.13, a quick ratio of 70.90 and a current ratio of 4.37.

Rocket Companies (NYSE:RKT - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.15 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.03. The firm had revenue of $2.82 billion for the quarter, compared to analysts' expectations of $2.76 billion. Rocket Companies had a net margin of 2.78% and a return on equity of 4.30%. The company's revenue was up 167.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.04 earnings per share. On average, equities analysts expect that Rocket Companies, Inc. will post 0.63 EPS for the current fiscal year.

Key Rocket Companies News

Here are the key news stories impacting Rocket Companies this week:

• Positive Sentiment: Rocket Companies posted better-than-expected Q1 results, with earnings of $0.15 per share topping estimates and revenue of $2.82 billion beating forecasts, helped by a 167% year-over-year jump in revenue. Rocket Companies (RKT) Beats Q1 Earnings and Revenue Estimates
• Positive Sentiment: Management highlighted accelerating momentum from AI and acquisitions, with EBITDA more than tripling, reinforcing the idea that the company’s turnaround is taking hold. Rocket Companies Beats Estimates as AI and Acquisitions Accelerate the Turnaround
• Positive Sentiment: Shares also got a sentiment boost from unusually heavy call-option buying, suggesting traders are positioning for more upside after the earnings report.
• Neutral Sentiment: Rocket’s Q2 revenue guidance of $2.7 billion to $2.9 billion was below consensus, which could limit gains if investors focus on near-term execution rather than the quarterly beat. Rocket Companies trades higher as Q1 earnings top estimates, Q2 guidance below consensus
• Neutral Sentiment: Redfin’s report that pending home sales hit the highest level in nearly four years is a supportive backdrop for Rocket’s mortgage business, but it is indirect and not a company-specific catalyst. Redfin Reports Pending Home Sales Hit Highest Level in Nearly 4 Years

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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