Lincoln Capital Corp Buys 203,639 Shares of Rocket Companies, Inc. $RKT

Key Points

• Lincoln Capital Corp significantly increased its stake in Rocket Companies, Inc. by 304.1% in the second quarter, now holding over 270,000 shares worth approximately $3.84 million.
• Multiple analysts have upgraded their ratings and price targets for Rocket Companies, with Bank of America raising its target from $21.00 to $24.00.
• Despite a recent earnings report showing a 4.5% increase in revenue year-over-year, shares of Rocket Companies are down 1.6% as of the latest trading session.

Lincoln Capital Corp boosted its stake in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) by 304.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 270,614 shares of the company's stock after acquiring an additional 203,639 shares during the quarter. Rocket Companies makes up approximately 1.5% of Lincoln Capital Corp's holdings, making the stock its 22nd biggest holding. Lincoln Capital Corp's holdings in Rocket Companies were worth $3,837,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. grew its holdings in Rocket Companies by 19.3% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 57,668 shares of the company's stock worth $818,000 after acquiring an additional 9,331 shares during the last quarter. MFG Wealth Management Inc. grew its holdings in Rocket Companies by 37.6% during the 2nd quarter. MFG Wealth Management Inc. now owns 177,762 shares of the company's stock worth $2,521,000 after acquiring an additional 48,560 shares during the last quarter. Voya Investment Management LLC lifted its position in Rocket Companies by 0.9% during the 1st quarter. Voya Investment Management LLC now owns 565,757 shares of the company's stock valued at $6,829,000 after purchasing an additional 4,906 shares during the period. Rhumbline Advisers lifted its position in Rocket Companies by 11.7% during the 1st quarter. Rhumbline Advisers now owns 146,527 shares of the company's stock valued at $1,769,000 after purchasing an additional 15,310 shares during the period. Finally, Strs Ohio acquired a new position in Rocket Companies during the 1st quarter valued at about $568,000. Institutional investors own 4.59% of the company's stock.

Rocket Companies Stock Performance

Shares of RKT traded down $0.60 during midday trading on Friday, reaching $20.54. 21,798,493 shares of the stock were exchanged, compared to its average volume of 23,354,622. The company has a market cap of $43.23 billion, a P/E ratio of -410.80 and a beta of 2.30. The stock's 50 day simple moving average is $17.70 and its 200 day simple moving average is $14.82. Rocket Companies, Inc. has a twelve month low of $10.06 and a twelve month high of $22.56. The company has a quick ratio of 18.74, a current ratio of 18.74 and a debt-to-equity ratio of 2.36.

Rocket Companies (NYSE:RKT - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.04 EPS for the quarter, beating analysts' consensus estimates of $0.03 by $0.01. The business 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%.Rocket Companies's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.06 earnings per share. Rocket Companies has set its Q3 2025 guidance at EPS. On average, sell-side analysts expect that Rocket Companies, Inc. will post 0.15 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Morgan Stanley assumed coverage on shares of Rocket Companies in a research report on Thursday, August 14th. They set an "equal weight" rating and a $16.00 target price on the stock. Jefferies Financial Group upped their target price 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. Bank of America upgraded shares of Rocket Companies from a "neutral" rating to a "buy" rating and upped their target price for the company from $21.00 to $24.00 in a research report on Wednesday, September 10th. The Goldman Sachs Group upped their target price on shares of Rocket Companies from $14.00 to $16.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. Finally, BTIG Research upgraded shares of Rocket Companies to a "strong-buy" rating in a research report on Tuesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $16.50.

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.