Invesco Ltd. Boosts Position in Rocket Companies, Inc. $RKT

Key Points

• Invesco Ltd. increased its holdings in Rocket Companies, Inc. by 53.6% during the first quarter, resulting in ownership of 295,327 shares worth approximately $3.56 million.
• Rocket Companies reported earnings of $0.04 per share for the last quarter, exceeding analysts' expectations, with revenues of $1.36 billion, a 4.5% increase compared to the previous year.
• Analysts have given Rocket Companies an average rating of "Hold" with a consensus price target of $15.81, reflecting mixed sentiments following various target price adjustments from prominent investment firms.

Invesco Ltd. raised its holdings in Rocket Companies, Inc. (NYSE:RKT - Free Report) by 53.6% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 295,327 shares of the company's stock after acquiring an additional 103,075 shares during the quarter. Invesco Ltd.'s holdings in Rocket Companies were worth $3,565,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Swiss National Bank grew its position in shares of Rocket Companies by 7.8% during the 1st quarter. Swiss National Bank now owns 268,400 shares of the company's stock worth $3,240,000 after buying an additional 19,500 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Rocket Companies by 11.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 21,601 shares of the company's stock worth $261,000 after buying an additional 2,168 shares in the last quarter. Altfest L J & Co. Inc. bought a new position in shares of Rocket Companies during the 1st quarter worth $493,000. Charles Schwab Investment Management Inc. boosted its position in Rocket Companies by 8.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,266,399 shares of the company's stock valued at $15,285,000 after purchasing an additional 103,156 shares in the last quarter. Finally, Vanguard Group Inc. boosted 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 valued at $154,418,000 after purchasing an additional 273,475 shares in the last quarter. Institutional investors own 4.59% of the company's stock.

Rocket Companies Trading Down 3.3%

Shares of RKT stock traded down $0.60 on Tuesday, hitting $17.18. The stock had a trading volume of 7,702,539 shares, compared to its average volume of 12,755,564. The company has a debt-to-equity ratio of 2.36, a current ratio of 18.74 and a quick ratio of 18.74. The firm has a market capitalization of $36.15 billion, a P/E ratio of -343.70 and a beta of 2.29. Rocket Companies, Inc. has a 1 year low of $10.06 and a 1 year high of $21.38. The company's 50 day moving average price is $16.00 and its 200-day moving average price is $14.16.

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, beating the consensus estimate 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 the consensus estimate of $1.28 billion. During the same quarter in the previous year, the business earned $0.06 EPS. The company's quarterly revenue was up 4.5% compared to the same quarter last year. Rocket Companies has set its Q3 2025 guidance at EPS. Analysts anticipate that Rocket Companies, Inc. will post 0.15 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on RKT shares. BTIG Research raised Rocket Companies to a "strong-buy" rating in a research report on Tuesday, August 19th. Morgan Stanley assumed 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. The Goldman Sachs Group raised their price objective on Rocket Companies from $14.00 to $16.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. Barclays lifted their price target on Rocket Companies from $14.00 to $16.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. Finally, Wedbush restated a "neutral" rating and issued a $12.00 price objective (down from $13.00) on shares of Rocket Companies in a research report on Friday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus 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.