Cannell & Spears LLC Boosts Stake in Rocket Companies, Inc. $RKT

Key Points

• Cannell & Spears LLC dramatically increased its stake in Rocket Companies, boosting holdings by 1,110% in the first quarter to 1,072,530 shares worth about $15.3 million.
• Rocket Companies reported stronger-than-expected quarterly results, with EPS of $0.15 topping estimates and revenue of $2.82 billion, up 167.1% year over year.
• Analyst sentiment is mixed but constructive: the stock has a consensus rating of “Moderate Buy” with an average target price of $20.73, while Rocket also faces some caution ahead of its August 6 second-quarter results.

Cannell & Spears LLC raised its position in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) by 1,110.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,072,530 shares of the company's stock after buying an additional 983,889 shares during the quarter. Cannell & Spears LLC's holdings in Rocket Companies were worth $15,276,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of RKT. Royal Bank of Canada grew its holdings in shares of Rocket Companies by 48.9% in the first quarter. Royal Bank of Canada now owns 69,641 shares of the company's stock valued at $841,000 after purchasing an additional 22,861 shares in the last quarter. Amundi raised its position in shares of Rocket Companies by 3.1% during the 1st quarter. Amundi now owns 33,416 shares of the company's stock valued at $403,000 after buying an additional 997 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Rocket Companies by 1,086.5% in the 1st quarter. AQR Capital Management LLC now owns 400,467 shares of the company's stock valued at $4,734,000 after acquiring an additional 366,716 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Rocket Companies by 12.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 370,619 shares of the company's stock worth $4,473,000 after acquiring an additional 40,326 shares during the last quarter. Finally, Creative Planning raised its position in Rocket Companies by 17.2% during the second quarter. Creative Planning now owns 18,215 shares of the company's stock valued at $258,000 after purchasing an additional 2,679 shares during the period. 4.59% of the stock is owned by hedge funds and other institutional investors.

Rocket Companies Stock Up 2.4%

Shares of Rocket Companies stock opened at $13.09 on Friday. The company has a debt-to-equity ratio of 1.13, a current ratio of 4.37 and a quick ratio of 4.37. The stock has a market cap of $37.02 billion, a price-to-earnings ratio of 261.70 and a beta of 2.16. The firm's 50-day moving average is $14.04 and its two-hundred day moving average is $16.08. Rocket Companies, Inc. has a 1 year low of $12.17 and a 1 year high of $24.36.

Rocket Companies (NYSE:RKT - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.03. The firm had revenue of $2.82 billion for the quarter, compared to the consensus estimate of $2.76 billion. Rocket Companies had a net margin of 2.78% and a return on equity of 4.30%. The company's quarterly revenue was up 167.1% on a year-over-year basis. During the same period last year, the firm earned $0.04 earnings per share. As a group, research analysts expect that Rocket Companies, Inc. will post 0.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Key Rocket Companies News

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

• Positive Sentiment: Rocket Companies said it will report second-quarter 2026 results on August 6 and hold a conference call afterward, keeping the focus on a near-term catalyst that could move the shares. Rocket Companies to Announce Second Quarter 2026 Results on August 6, 2026
• Positive Sentiment: Analysts expect earnings to grow versus last year, which supports optimism that the company may show continued improvement in profitability and revenue trends. Rocket Companies (RKT) Earnings Expected to Grow: What to Know Ahead of Q2 Release
• Neutral Sentiment: Redfin, which is powered by Rocket, reported that U.S. pending home sales fell to a three-month low, a reminder that the housing market remains uneven and could affect mortgage demand. Redfin Reports Pending Home Sales Fall to 3-Month Low
• Neutral Sentiment: Another Redfin update noted San Francisco home prices have rebounded sharply from the housing crash bottom, highlighting strength in some regional housing markets but not necessarily a broad immediate boost for Rocket. From Bust to Boom: San Francisco Home Prices Are Now $1 Million Higher Than Housing-Crash Bottom
• Negative Sentiment: Zacks said Rocket may not have the right setup for an earnings beat, which could temper enthusiasm ahead of the report if expectations are too high. Rocket Companies (RKT) Earnings Expected to Grow: What to Know Ahead of Q2 Release

Rocket Companies 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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