PDT Partners LLC Reduces Stake in Rocket Companies, Inc. $RKT

Key Points

• PDT Partners LLC significantly reduced its stake in Rocket Companies, Inc. by 58.7%, owning 132,682 shares after selling 188,909 shares in the first quarter.
• Boston Partners and Vanguard Group both increased their positions in Rocket Companies during the same period, with Boston Partners raising its stake by 11.3% and Vanguard by 2.2%.
• Analysts have varying outlooks on Rocket Companies, with a consensus average price target of $15.81 and a mix of ratings that include "Strong Buy," "Hold," and "Sell."

PDT Partners LLC decreased its stake in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) by 58.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 132,682 shares of the company's stock after selling 188,909 shares during the period. PDT Partners LLC's holdings in Rocket Companies were worth $1,601,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Boston Partners increased its position in Rocket Companies by 11.3% during the first quarter. Boston Partners now owns 13,704,339 shares of the company's stock worth $165,421,000 after buying an additional 1,390,559 shares in the last quarter. Vanguard Group Inc. increased its position in Rocket Companies by 2.2% during the first quarter. Vanguard Group Inc. now owns 12,793,549 shares of the company's stock worth $154,418,000 after buying an additional 273,475 shares in the last quarter. Nuveen Asset Management LLC increased its position in Rocket Companies by 52.7% during the fourth quarter. Nuveen Asset Management LLC now owns 8,122,148 shares of the company's stock worth $91,455,000 after buying an additional 2,804,090 shares in the last quarter. Nuveen LLC purchased a new position in Rocket Companies during the first quarter worth $96,470,000. Finally, Wellington Management Group LLP increased its position in Rocket Companies by 1.5% during the first quarter. Wellington Management Group LLP now owns 4,774,324 shares of the company's stock worth $57,626,000 after buying an additional 69,147 shares in the last quarter. Hedge funds and other institutional investors own 4.59% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Jefferies Financial Group raised their price target on Rocket Companies from $11.50 to $14.00 and gave the stock a "hold" rating in a research report on Tuesday, July 22nd. UBS Group set a $16.00 price objective on Rocket Companies and gave the company a "neutral" rating in a research report on Tuesday, August 5th. Wedbush reaffirmed a "neutral" rating and issued a $12.00 price objective (down previously from $13.00) on shares of Rocket Companies in a research report on Friday, May 9th. Keefe, Bruyette & Woods lifted their price objective on Rocket Companies from $14.00 to $15.00 and gave the company a "market perform" rating in a research report on Tuesday, August 5th. Finally, BTIG Research raised Rocket Companies to a "strong-buy" rating in a research report on Tuesday, August 19th. One investment 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 assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $15.81.

Rocket Companies Price Performance

Shares of Rocket Companies stock opened at $17.16 on Wednesday. Rocket Companies, Inc. has a twelve month low of $10.06 and a twelve month high of $21.38. The stock has a market capitalization of $36.12 billion, a P/E ratio of -343.26 and a beta of 2.30. 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 business's fifty day moving average price is $16.05 and its 200 day moving average price is $14.18.

Rocket Companies (NYSE:RKT - Get Free Report) last issued its earnings results 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 positive return on equity of 3.18% and a negative net margin of 0.01%.The firm had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.28 billion. During the same quarter last year, the firm earned $0.06 earnings per share. The firm's revenue for the quarter was up 4.5% compared to the same quarter last year. Rocket Companies has set its Q3 2025 guidance at EPS. As a group, research analysts anticipate that Rocket Companies, Inc. will post 0.15 earnings per share for the current year.

Rocket Companies Company 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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