Cinctive Capital Management LP Has $500,000 Stake in Rocket Companies, Inc. $RKT

Key Points

• Cinctive Capital Management LP has significantly reduced its stake in Rocket Companies, Inc. by 88.2%, now holding shares worth $500,000 after selling 308,940 shares in the first quarter.
• Analysts have set new price targets for Rocket Companies, with multiple firms increasing their price objectives to $16.00, maintaining a generally neutral stance on the stock.
• Rocket Companies reported a revenue increase of 4.5% year-over-year, with an earnings per share (EPS) of $0.04, exceeding expectations for the recent quarter.

Cinctive Capital Management LP cut its holdings in Rocket Companies, Inc. (NYSE:RKT - Free Report) by 88.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 41,442 shares of the company's stock after selling 308,940 shares during the period. Cinctive Capital Management LP's holdings in Rocket Companies were worth $500,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nuveen LLC acquired a new stake in Rocket Companies during the first quarter worth approximately $96,470,000. Wellington Management Group LLP lifted its position in shares of Rocket Companies by 174.5% during the 4th quarter. Wellington Management Group LLP now owns 4,705,177 shares of the company's stock valued at $52,980,000 after acquiring an additional 2,990,837 shares during the period. Nuveen Asset Management LLC lifted its position in shares of Rocket Companies by 52.7% during the 4th quarter. Nuveen Asset Management LLC now owns 8,122,148 shares of the company's stock valued at $91,455,000 after acquiring an additional 2,804,090 shares during the period. Boston Partners grew its holdings in shares of Rocket Companies by 11.3% during the 1st quarter. Boston Partners now owns 13,704,339 shares of the company's stock worth $165,421,000 after purchasing an additional 1,390,559 shares in the last quarter. Finally, Azora Capital LP bought a new position in shares of Rocket Companies in the first quarter worth $16,078,000. Institutional investors and hedge funds own 4.59% of the company's stock.

Rocket Companies Trading Up 2.1%

NYSE:RKT traded up $0.43 during mid-day trading on Wednesday, hitting $20.89. 38,205,434 shares of the company's stock were exchanged, compared to its average volume of 13,259,352. Rocket Companies, Inc. has a fifty-two week low of $10.06 and a fifty-two week high of $22.08. The company has a current ratio of 18.74, a quick ratio of 18.74 and a debt-to-equity ratio of 2.36. The firm has a market capitalization of $43.97 billion, a P/E ratio of -417.86 and a beta of 2.30. The company has a 50 day simple moving average of $16.58 and a 200-day simple moving average of $14.41.

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 (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.01. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.28 billion. Rocket Companies had a negative net margin of 0.01% and a positive return on equity of 3.18%. The company's revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.06 earnings per share. Rocket Companies has set its Q3 2025 guidance at EPS. As a group, research analysts expect that Rocket Companies, Inc. will post 0.15 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. UBS Group set a $16.00 price objective on shares of Rocket Companies and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. Barclays increased their price target on shares of Rocket Companies from $14.00 to $16.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Keefe, Bruyette & Woods boosted their price objective on shares of Rocket Companies from $14.00 to $15.00 and gave the company a "market perform" rating in a research report on Tuesday, August 5th. Bank of America upgraded Rocket Companies from a "neutral" rating to a "buy" rating and upped their target price for the stock from $21.00 to $24.00 in a research note on Wednesday. Finally, Morgan Stanley started coverage on Rocket Companies in a research note on Thursday, August 14th. They issued an "equal weight" rating and a $16.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Rocket Companies presently has an average rating of "Hold" and a consensus price target of $16.50.

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.