Hennessy Advisors Inc. Invests $851,000 in Rocket Companies, Inc. $RKT

Key Points

• Hennessy Advisors Inc. invested $851,000 in Rocket Companies by acquiring 60,000 shares during the second quarter, indicating increased institutional interest in the stock.
• Analysts have mixed reviews on Rocket Companies, with ratings ranging from a "Strong Buy" to a "Strong Sell," and an average target price of $16.65.
• As of the latest report, Rocket Companies' stock has decreased by 3.2%, with a market capitalization of $37.42 billion and a PE ratio of -355.60.

Hennessy Advisors Inc. bought a new position in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 60,000 shares of the company's stock, valued at approximately $851,000.

A number of other institutional investors also recently modified their holdings of RKT. Mather Group LLC. raised its position in shares of Rocket Companies by 312.2% during the first quarter. Mather Group LLC. now owns 2,601 shares of the company's stock worth $31,000 after purchasing an additional 1,970 shares during the period. Parallel Advisors LLC raised its position in shares of Rocket Companies by 302.2% during the first quarter. Parallel Advisors LLC now owns 2,956 shares of the company's stock worth $36,000 after purchasing an additional 2,221 shares during the period. Brooklyn Investment Group raised its position in shares of Rocket Companies by 251.3% during the first quarter. Brooklyn Investment Group now owns 3,390 shares of the company's stock worth $41,000 after purchasing an additional 2,425 shares during the period. GAMMA Investing LLC raised its position in shares of Rocket Companies by 82.4% during the first quarter. GAMMA Investing LLC now owns 3,905 shares of the company's stock worth $47,000 after purchasing an additional 1,764 shares during the period. Finally, Signaturefd LLC raised its position in shares of Rocket Companies by 147.1% during the first quarter. Signaturefd LLC now owns 4,372 shares of the company's stock worth $53,000 after purchasing an additional 2,603 shares during the period. 4.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

RKT has been the subject of a number of analyst reports. Bank of America raised Rocket Companies from a "neutral" rating to a "buy" rating and increased their price target for the company from $21.00 to $24.00 in a research report on Wednesday, September 10th. Zacks Research lowered Rocket Companies from a "hold" rating to a "strong sell" rating in a research report on Monday, September 29th. BTIG Research raised Rocket Companies to a "strong-buy" rating in a research report on Tuesday, August 19th. Weiss Ratings reissued a "sell (d)" rating on shares of Rocket Companies in a research report on Saturday, September 27th. Finally, Barclays increased 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. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $16.65.

Rocket Companies Stock Down 3.2%

Shares of NYSE:RKT opened at $17.78 on Friday. The company has a market capitalization of $37.42 billion, a PE ratio of -355.60 and a beta of 2.23. The company has a debt-to-equity ratio of 2.36, a current ratio of 18.74 and a quick ratio of 18.74. The business has a fifty day moving average price of $18.66 and a two-hundred day moving average price of $15.14. Rocket Companies, Inc. has a 1 year low of $10.06 and a 1 year high of $22.56.

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 (EPS) for the quarter, beating analysts' consensus estimates 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 positive return on equity of 3.18% and a negative net margin of 0.01%.The business's revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.06 EPS. Rocket Companies has set its Q3 2025 guidance at EPS. Analysts forecast that Rocket Companies, Inc. will post 0.15 earnings per share for the current year.

Rocket Companies 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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