Nishkama Capital LLC Acquires Shares of 163,598 Rocket Companies, Inc. $RKT

Key Points

• Nishkama Capital LLC has acquired 163,598 shares of Rocket Companies, Inc., valued at approximately $1.975 million, marking a significant investment in the company.
• Rocket Companies reported a 4.5% year-over-year revenue increase, posting $1.36 billion for the quarter and beating analysts' expectations.
• Wall Street analysts have a consensus rating of "Hold" on Rocket Companies shares, with an average target price of $15.81.

Nishkama Capital LLC acquired a new stake in Rocket Companies, Inc. (NYSE:RKT - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 163,598 shares of the company's stock, valued at approximately $1,975,000.

A number of other hedge funds also recently bought and sold shares of the business. Wellington Management Group LLP raised its holdings in Rocket Companies by 1.5% in the 1st quarter. Wellington Management Group LLP now owns 4,774,324 shares of the company's stock valued at $57,626,000 after acquiring an additional 69,147 shares during the last quarter. Brooklyn Investment Group grew its stake in shares of Rocket Companies by 251.3% in the 1st quarter. Brooklyn Investment Group now owns 3,390 shares of the company's stock valued at $41,000 after buying an additional 2,425 shares during the period. TriaGen Wealth Management LLC purchased a new stake in shares of Rocket Companies in the 1st quarter valued at approximately $482,000. Northwest & Ethical Investments L.P. purchased a new stake in shares of Rocket Companies in the 1st quarter valued at approximately $280,000. Finally, Raymond James Financial Inc. grew its stake in shares of Rocket Companies by 17.5% in the 1st quarter. Raymond James Financial Inc. now owns 361,975 shares of the company's stock valued at $4,369,000 after buying an additional 53,887 shares during the period. Institutional investors and hedge funds own 4.59% of the company's stock.

Rocket Companies Price Performance

Shares of RKT opened at $19.2480 on Monday. Rocket Companies, Inc. has a twelve month low of $10.06 and a twelve month high of $21.38. The firm's fifty day simple moving average is $15.49 and its 200-day simple moving average is $13.93. The firm 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 current ratio of 18.74, a quick ratio of 18.74 and a debt-to-equity ratio of 2.36.

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. Rocket Companies had a negative net margin of 0.01% and a positive return on equity of 3.18%. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the business earned $0.06 EPS. The company's revenue was up 4.5% on a year-over-year basis. Rocket Companies has set its Q3 2025 guidance at EPS. Equities analysts forecast that Rocket Companies, Inc. will post 0.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on RKT shares. Morgan Stanley started coverage on shares of Rocket Companies in a research note on Thursday, August 14th. They issued an "equal weight" rating and a $16.00 price target for the company. Keefe, Bruyette & Woods increased their price target on shares of Rocket Companies from $14.00 to $15.00 and gave the company a "market perform" rating in a research note on Tuesday, August 5th. The Goldman Sachs Group increased 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. Wedbush reaffirmed a "neutral" rating and set a $12.00 price objective (down previously from $13.00) on shares of Rocket Companies in a research report on Friday, May 9th. Finally, Barclays increased their price objective 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. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $15.81.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.