Nishkama Capital LLC Makes New $1.98 Million Investment in 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 position in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 163,598 shares of the company's stock, valued at approximately $1,975,000.

Other hedge funds have also added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its position in Rocket Companies by 148.3% in the first quarter. Bank of New York Mellon Corp now owns 1,163,399 shares of the company's stock valued at $14,042,000 after purchasing an additional 694,779 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Rocket Companies by 8.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,266,399 shares of the company's stock valued at $15,285,000 after purchasing an additional 103,156 shares in the last quarter. Kestra Private Wealth Services LLC bought a new position in Rocket Companies in the first quarter valued at $310,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Rocket Companies in the first quarter valued at $281,000. Finally, GAMMA Investing LLC grew its position in Rocket Companies by 2,101.4% in the first quarter. GAMMA Investing LLC now owns 47,133 shares of the company's stock valued at $569,000 after purchasing an additional 44,992 shares in the last quarter. Institutional investors own 4.59% of the company's stock.

Rocket Companies Stock Performance

Shares of NYSE RKT traded down $0.10 during mid-day trading on Friday, reaching $17.79. 15,815,590 shares of the company were exchanged, compared to its average volume of 20,920,428. The company's 50-day simple moving average is $15.94 and its 200-day simple moving average is $14.11. The company has a quick ratio of 18.74, a current ratio of 18.74 and a debt-to-equity ratio of 2.36. The stock has a market capitalization of $37.44 billion, a P/E ratio of -355.80 and a beta of 2.28. Rocket Companies, Inc. has a twelve month low of $10.06 and a twelve month high of $21.38.

Rocket Companies (NYSE:RKT - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.03 by $0.01. The company had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.28 billion. Rocket Companies had a negative net margin of 0.01% and a positive return on equity of 3.18%. Rocket Companies's quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.06 EPS. Rocket Companies has set its Q3 2025 guidance at EPS. As a group, research analysts predict that Rocket Companies, Inc. will post 0.15 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Wedbush reaffirmed a "neutral" rating and issued a $12.00 target price (down previously from $13.00) on shares of Rocket Companies in a research report on Friday, May 9th. Barclays lifted their price objective on shares of Rocket Companies from $14.00 to $16.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. Jefferies Financial Group lifted their price objective on shares of Rocket Companies from $11.50 to $14.00 and gave the company a "hold" rating in a research report on Tuesday, July 22nd. Morgan Stanley assumed coverage on shares of Rocket Companies in a research report on Thursday, August 14th. They issued an "equal weight" rating and a $16.00 price objective for the company. Finally, UBS Group set a $16.00 price objective on shares of Rocket Companies and gave the company a "neutral" rating in a research report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target 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.