Clough Capital Partners L P Purchases New Holdings in Rocket Companies, Inc. $RKT

Key Points

• Several institutions increased or initiated stakes in Rocket Companies in the latest filings — notably Clough Capital bought 99,510 shares (~$1.93M), Durable Capital opened a ~$213M position, and Vanguard added ~5.23M shares to hold 22.95M shares.
• Analyst coverage is mixed: MarketBeat shows a consensus of Hold with a $20.67 average target (6 Buys, 10 Holds, 1 Sell) and price targets roughly in the $19–$25 range.
• Rocket recently beat quarterly expectations with $0.11 EPS vs $0.09 and revenue of $2.44B (up 52.2% YoY), while the stock trades around $14.14, well below its 52‑week high of $24.36.

Clough Capital Partners L P purchased a new stake in Rocket Companies, Inc. (NYSE:RKT - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 99,510 shares of the company's stock, valued at approximately $1,929,000.

Several other institutional investors have also recently made changes to their positions in RKT. Durable Capital Partners LP bought a new stake in shares of Rocket Companies during the 3rd quarter worth approximately $213,010,000. Vanguard Group Inc. grew its stake in shares of Rocket Companies by 29.5% in the third quarter. Vanguard Group Inc. now owns 22,945,500 shares of the company's stock valued at $444,684,000 after buying an additional 5,226,931 shares in the last quarter. Third Point LLC acquired a new position in Rocket Companies during the second quarter worth $67,355,000. Broad Bay Capital Management LP bought a new stake in Rocket Companies during the second quarter worth $51,585,000. Finally, Maple Rock Capital Partners Inc. acquired a new stake in Rocket Companies in the second quarter valued at $32,984,000. Institutional investors and hedge funds own 4.59% of the company's stock.

Wall Street Analysts Forecast Growth

RKT has been the subject of a number of analyst reports. Compass Point initiated coverage on shares of Rocket Companies in a research report on Tuesday, March 10th. They issued a "buy" rating and a $21.00 price objective for the company. Weiss Ratings reiterated a "sell (d+)" rating on shares of Rocket Companies in a report on Monday, December 29th. Wells Fargo & Company upped their price objective on Rocket Companies from $17.00 to $19.00 and gave the company an "equal weight" rating in a research note on Friday, February 27th. BTIG Research reaffirmed a "buy" rating and issued a $25.00 price objective on shares of Rocket Companies in a research report on Wednesday, November 19th. Finally, Jefferies Financial Group started coverage on Rocket Companies in a report on Friday, December 19th. They set a "buy" rating and a $25.00 target price on the stock. Six research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $20.67.

Insiders Place Their Bets

In related news, Director Matthew Rizik sold 2,500 shares of the business's stock in a transaction on Monday, January 12th. The stock was sold at an average price of $22.99, for a total value of $57,475.00. Following the completion of the sale, the director directly owned 1,038,536 shares in the company, valued at $23,875,942.64. The trade was a 0.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last ninety days, insiders sold 22,500 shares of company stock worth $453,775. Company insiders own 92.64% of the company's stock.

Rocket Companies Stock Down 3.1%

Shares of RKT opened at $14.14 on Friday. The firm has a market cap of $29.75 billion, a P/E ratio of -108.73 and a beta of 2.30. The company has a debt-to-equity ratio of 1.07, a quick ratio of 70.90 and a current ratio of 70.90. Rocket Companies, Inc. has a 52 week low of $10.94 and a 52 week high of $24.36. The firm's 50-day simple moving average is $19.22 and its 200 day simple moving average is $18.72.

Rocket Companies (NYSE:RKT - Get Free Report) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.09 by $0.02. Rocket Companies had a positive return on equity of 3.04% and a negative net margin of 1.02%.The company had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.24 billion. During the same quarter in the previous year, the company posted $0.04 earnings per share. The business's revenue was up 52.2% on a year-over-year basis. On average, analysts forecast that Rocket Companies, Inc. will post 0.15 earnings per share for the current year.

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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