Deutsche Bank AG Cuts Position in Rocket Companies, Inc. $RKT

Key Points

• Deutsche Bank AG reduced its stake in Rocket Companies, Inc. by 83.1% during the first quarter, now holding 21,888 shares valued at approximately $264,000.
• Rocket Companies reported a quarterly revenue of $1.36 billion, exceeding analysts' expectations of $1.28 billion, and recorded an EPS of $0.04, which outperformed the consensus estimate of $0.03.
• Several analysts have upgraded their ratings and price targets for Rocket Companies, with Goldman Sachs raising its target from $14.00 to $16.00 and BTIG Research issuing a "strong-buy" rating.

Deutsche Bank AG reduced its holdings in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) by 83.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,888 shares of the company's stock after selling 107,674 shares during the quarter. Deutsche Bank AG's holdings in Rocket Companies were worth $264,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cetera Investment Advisers boosted its holdings in Rocket Companies by 2.9% in the fourth quarter. Cetera Investment Advisers now owns 33,035 shares of the company's stock valued at $372,000 after purchasing an additional 936 shares in the last quarter. Vident Advisory LLC raised its holdings in Rocket Companies by 3.6% during the fourth quarter. Vident Advisory LLC now owns 30,798 shares of the company's stock worth $347,000 after purchasing an additional 1,078 shares in the last quarter. CWM LLC lifted its position in shares of Rocket Companies by 22.8% during the 1st quarter. CWM LLC now owns 6,702 shares of the company's stock worth $81,000 after buying an additional 1,243 shares during the last quarter. Brooktree Capital Management boosted its holdings in shares of Rocket Companies by 1.3% in the 1st quarter. Brooktree Capital Management now owns 112,073 shares of the company's stock valued at $1,353,000 after buying an additional 1,479 shares in the last quarter. Finally, GAMMA Investing LLC grew 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 buying an additional 1,764 shares during the last quarter. Institutional investors and hedge funds own 4.59% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on RKT. The Goldman Sachs Group boosted their price target 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. Jefferies Financial Group boosted their target price on Rocket Companies from $11.50 to $14.00 and gave the company a "hold" rating in a report on Tuesday, July 22nd. Keefe, Bruyette & Woods upped their target price 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. UBS Group set a $16.00 price target on Rocket Companies and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Finally, Morgan Stanley started coverage on Rocket Companies in a research note on Thursday, August 14th. They issued an "equal weight" rating and a $16.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $15.81.

Rocket Companies Stock Performance

Shares of NYSE:RKT traded up $0.76 during midday trading on Wednesday, hitting $17.92. The stock had a trading volume of 8,792,611 shares, compared to its average volume of 12,759,962. Rocket Companies, Inc. has a 1 year low of $10.06 and a 1 year high of $21.38. 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 stock has a 50 day moving average price of $16.05 and a two-hundred day moving average price of $14.18. The company has a market capitalization of $37.70 billion, a PE ratio of -359.36 and a beta of 2.30.

Rocket Companies (NYSE:RKT - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.28 billion. Rocket Companies had a positive return on equity of 3.18% and a negative net margin of 0.01%.The firm'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. As a group, equities analysts predict that Rocket Companies, Inc. will post 0.15 earnings per share for the current fiscal year.

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.