Rocket Companies, Inc. $RKT Shares Bought by Canada Pension Plan Investment Board

Key Points

• Canada Pension Plan Investment Board has increased its holdings in Rocket Companies, Inc. by 39.3% to a total of 156,054 shares valued at approximately $1.884 million.
• Rocket Companies' stock has experienced a notable increase, rising 6.9%, with its shares currently trading around $19.12.
• The company reported a quarterly earnings per share (EPS) of $0.04, surpassing analysts' expectations and marking a 4.5% increase in revenue compared to the same period last year.

Canada Pension Plan Investment Board raised its stake in Rocket Companies, Inc. (NYSE:RKT - Free Report) by 39.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 156,054 shares of the company's stock after purchasing an additional 44,064 shares during the period. Canada Pension Plan Investment Board's holdings in Rocket Companies were worth $1,884,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Mather Group LLC. increased its stake 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 buying an additional 1,970 shares during the period. Parallel Advisors LLC grew its holdings in Rocket Companies by 302.2% during the 1st quarter. Parallel Advisors LLC now owns 2,956 shares of the company's stock worth $36,000 after acquiring an additional 2,221 shares in the last quarter. Brooklyn Investment Group increased its position 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 purchasing an additional 2,425 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Rocket Companies by 82.4% in the 1st quarter. GAMMA Investing LLC now owns 3,905 shares of the company's stock valued at $47,000 after purchasing an additional 1,764 shares during the last quarter. Finally, Signaturefd LLC lifted its position in shares of Rocket Companies by 147.1% during the 1st 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 last quarter. Hedge funds and other institutional investors own 4.59% of the company's stock.

Rocket Companies Stock Performance

NYSE RKT traded up $1.11 during trading on Friday, reaching $20.26. The company's stock had a trading volume of 39,272,945 shares, compared to its average volume of 17,202,980. The firm has a market cap of $42.63 billion, a price-to-earnings ratio of -405.14 and a beta of 2.30. Rocket Companies, Inc. has a twelve month low of $10.06 and a twelve month high of $21.38. The business's fifty day moving average price is $16.33 and its 200-day moving average price is $14.31. The company has a debt-to-equity ratio of 2.36, a quick ratio of 18.74 and a current ratio of 18.74.

Rocket Companies (NYSE:RKT - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.04 earnings per share for the quarter, topping 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 company had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.28 billion. During the same period last year, the firm earned $0.06 EPS. The firm's revenue for the quarter was up 4.5% on a year-over-year basis. Rocket Companies has set its Q3 2025 guidance at EPS. As a group, analysts anticipate that Rocket Companies, Inc. will post 0.15 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on RKT shares. UBS Group set a $16.00 target price on Rocket Companies and gave the company a "neutral" rating in a report on Tuesday, August 5th. BTIG Research raised Rocket Companies to a "strong-buy" rating in a research report on Tuesday, August 19th. The Goldman Sachs Group upped their price objective on Rocket Companies from $14.00 to $16.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. Jefferies Financial Group upped their price objective on Rocket Companies from $11.50 to $14.00 and gave the stock a "hold" rating in a research report on Tuesday, July 22nd. Finally, Morgan Stanley assumed coverage on Rocket Companies in a research report on Thursday, August 14th. They set an "equal weight" rating and a $16.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Rocket Companies presently has a consensus rating of "Hold" and an average price target of $15.81.

About Rocket Companies

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.