Charles Schwab Investment Management Inc. Increases Position in Rocket Companies, Inc. $RKT

Key Points

• Charles Schwab Investment Management Inc. raised its stake in Rocket Companies by 8.9%, holding approximately 1.27 million shares valued at $15.29 million as of the latest reporting period.
• Several other institutional investors, like Envestnet Asset Management and Hsbc Holdings PLC, significantly increased their positions in Rocket Companies, highlighting growing interest in the stock.
• Analyst ratings for Rocket Companies are mixed, with a consensus "Hold" rating and a target price of $15.81 following price target increases from firms like Barclays and The Goldman Sachs Group.

Charles Schwab Investment Management Inc. lifted its holdings in Rocket Companies, Inc. (NYSE:RKT - Free Report) by 8.9% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,266,399 shares of the company's stock after buying an additional 103,156 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.06% of Rocket Companies worth $15,285,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RKT. Envestnet Asset Management Inc. boosted its position in Rocket Companies by 34.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 22,413 shares of the company's stock worth $252,000 after purchasing an additional 5,710 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Rocket Companies in the fourth quarter valued at about $3,469,000. Dimensional Fund Advisors LP boosted its stake in Rocket Companies by 7.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 247,778 shares of the company's stock valued at $2,790,000 after acquiring an additional 18,169 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in Rocket Companies by 461.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 20,384 shares of the company's stock valued at $230,000 after acquiring an additional 16,753 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its stake in Rocket Companies by 875.5% in the fourth quarter. Hsbc Holdings PLC now owns 145,485 shares of the company's stock valued at $1,634,000 after acquiring an additional 130,571 shares during the last quarter. Hedge funds and other institutional investors own 4.59% of the company's stock.

Wall Street Analyst Weigh In

RKT has been the topic of a number of recent research reports. Barclays upped their price target on Rocket Companies from $14.00 to $16.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. The Goldman Sachs Group upped their price target on shares of Rocket Companies from $14.00 to $16.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. Morgan Stanley initiated coverage on shares of Rocket Companies in a research note on Thursday, August 14th. They set an "equal weight" rating and a $16.00 price target on the stock. Wedbush restated a "neutral" rating and issued a $12.00 target price (down previously from $13.00) on shares of Rocket Companies in a research note on Friday, May 9th. Finally, BTIG Research raised shares of Rocket Companies to a "strong-buy" rating in a report on Tuesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $15.81.

Rocket Companies Trading Up 9.5%

NYSE RKT opened at $19.2480 on Friday. The company has a market capitalization of $40.51 billion, a price-to-earnings ratio of -384.96 and a beta of 2.28. The company has a quick ratio of 18.74, a current ratio of 18.74 and a debt-to-equity ratio of 2.36. Rocket Companies, Inc. has a twelve month low of $10.06 and a twelve month high of $21.38. The stock's 50-day simple moving average is $15.49 and its two-hundred day simple moving average is $13.93.

Rocket Companies (NYSE:RKT - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.04 earnings per share for the quarter, beating analysts' consensus estimates of $0.03 by $0.01. The company had revenue of $1.36 billion for 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%.Rocket Companies'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. Research analysts forecast that Rocket Companies, Inc. will post 0.15 EPS for the current fiscal year.

Rocket Companies Company 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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