Rocket Companies, Inc. $RKT Shares Purchased by Farther Finance Advisors LLC

Key Points

• Farther Finance Advisors LLC increased its holdings in Rocket Companies by an astonishing 1,617.9% in the second quarter, culminating in ownership of 16,543 shares valued at approximately $235,000.
• Several hedge funds, including Mather Group and Parallel Advisors, also significantly boosted their stakes in Rocket Companies during the first quarter, highlighting strong institutional interest in the stock.
• After reporting a quarterly earnings per share (EPS) of $0.04, Rocket Companies surpassed consensus estimates and now has an average price target of $16.65 from analysts, with ratings ranging from Buy to Hold.

Farther Finance Advisors LLC boosted its holdings in Rocket Companies, Inc. (NYSE:RKT - Free Report) by 1,617.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,543 shares of the company's stock after purchasing an additional 15,580 shares during the quarter. Farther Finance Advisors LLC's holdings in Rocket Companies were worth $235,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Mather Group LLC. boosted its holdings in Rocket Companies by 312.2% in the first quarter. Mather Group LLC. now owns 2,601 shares of the company's stock worth $31,000 after purchasing an additional 1,970 shares during the period. Parallel Advisors LLC boosted its holdings in Rocket Companies by 302.2% in the first quarter. Parallel Advisors LLC now owns 2,956 shares of the company's stock worth $36,000 after purchasing an additional 2,221 shares during the period. Brooklyn Investment Group boosted its holdings in Rocket Companies by 251.3% in the first quarter. Brooklyn Investment Group now owns 3,390 shares of the company's stock worth $41,000 after purchasing an additional 2,425 shares during the period. GAMMA Investing LLC boosted its holdings in Rocket Companies by 82.4% in the first quarter. GAMMA Investing LLC now owns 3,905 shares of the company's stock worth $47,000 after purchasing an additional 1,764 shares during the period. Finally, Signaturefd LLC lifted its stake in Rocket Companies by 147.1% in the first quarter. Signaturefd LLC now owns 4,372 shares of the company's stock valued at $53,000 after buying an additional 2,603 shares during the last quarter. Institutional investors and hedge funds own 4.59% of the company's stock.

Rocket Companies Price Performance

NYSE RKT opened at $19.38 on Wednesday. The stock's 50-day moving average price is $18.45 and its two-hundred day moving average price is $15.07. 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 company has a market cap of $40.79 billion, a PE ratio of -387.60 and a beta of 2.30. Rocket Companies, Inc. has a 1 year low of $10.06 and a 1 year high of $22.56.

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 (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.01. The firm had revenue of $1.36 billion for 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%.The business'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 company earned $0.06 EPS. Rocket Companies has set its Q3 2025 guidance at EPS. On average, analysts predict that Rocket Companies, Inc. will post 0.15 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on RKT. Bank of America upgraded Rocket Companies from a "neutral" rating to a "buy" rating and raised their target price for the company from $21.00 to $24.00 in a research note on Wednesday, September 10th. Keefe, Bruyette & Woods raised their target price on 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 raised their target price on Rocket Companies from $14.00 to $16.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. Morgan Stanley raised their target price on Rocket Companies from $16.00 to $18.00 and gave the company an "equal weight" rating in a research note on Monday. Finally, Jefferies Financial Group upped their price objective on shares of Rocket Companies from $11.50 to $14.00 and gave the stock a "hold" rating in a report on Tuesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $16.65.

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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