Azora Capital LP Makes New $16.08 Million Investment in Rocket Companies, Inc. $RKT

Key Points

• Azora Capital LP has invested approximately $16.08 million in Rocket Companies, acquiring 1,332,096 shares, which represents about 1.1% of its investment portfolio.
• Rocket Companies recently reported earnings of $0.04 per share for the last quarter, exceeding expectations, along with a revenue of $1.36 billion.
• Several large investors have significantly increased their stakes in Rocket Companies during the first quarter, with hedge funds collectively owning 4.59% of the company's stock.

Azora Capital LP purchased 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 purchased 1,332,096 shares of the company's stock, valued at approximately $16,078,000. Rocket Companies accounts for approximately 1.1% of Azora Capital LP's investment portfolio, making the stock its 25th biggest holding. Azora Capital LP owned approximately 0.07% of Rocket Companies at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Aragon Global Management LP purchased a new position in shares of Rocket Companies during the 1st quarter worth $646,000. Vident Advisory LLC lifted its stake in shares of Rocket Companies by 16.2% during the 1st quarter. Vident Advisory LLC now owns 35,794 shares of the company's stock worth $432,000 after purchasing an additional 4,996 shares during the period. Kodai Capital Management LP purchased a new position in shares of Rocket Companies during the 1st quarter worth $8,457,000. Canada Pension Plan Investment Board lifted its stake in shares of Rocket Companies by 39.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 156,054 shares of the company's stock worth $1,884,000 after purchasing an additional 44,064 shares during the period. Finally, State of Wyoming lifted its stake in shares of Rocket Companies by 36.9% during the 1st quarter. State of Wyoming now owns 26,926 shares of the company's stock worth $325,000 after purchasing an additional 7,262 shares during the period. Hedge funds and other institutional investors own 4.59% of the company's stock.

Rocket Companies Trading Down 1.1%

NYSE:RKT opened at $17.88 on Friday. The business's 50-day moving average is $15.87 and its two-hundred day moving average is $14.07. The company has a debt-to-equity ratio of 2.36, a current ratio of 18.74 and a quick ratio of 18.74. Rocket Companies, Inc. has a 12 month low of $10.06 and a 12 month high of $21.38. The firm has a market capitalization of $37.63 billion, a PE ratio of -357.64 and a beta of 2.28.

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

Analysts Set New Price Targets

A number of research analysts have weighed in on RKT shares. Wedbush reissued 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. UBS Group set a $16.00 target price on Rocket Companies and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. The Goldman Sachs Group increased their target price on Rocket Companies from $14.00 to $16.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. BTIG Research raised Rocket Companies to a "strong-buy" rating in a research report on Tuesday, August 19th. Finally, Jefferies Financial Group increased their target price on Rocket Companies from $11.50 to $14.00 and gave the stock a "hold" rating in a research report on Tuesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $15.81.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.