Scientech Research LLC Acquires New Position in Rocket Companies, Inc. $RKT

Key Points

• Scientech Research LLC has invested $731,000 in Rocket Companies, acquiring 60,542 shares during the first quarter.
• Multiple institutional investors, including Boston Partners and Vanguard Group, have increased their stakes in Rocket Companies, indicating growing confidence in the stock.
• Analysts have issued target prices for Rocket Companies, with several firms setting a consistent target of $16.00, while the consensus rating remains a "Hold" across the board.

Scientech Research LLC acquired a new stake in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 60,542 shares of the company's stock, valued at approximately $731,000.

Other hedge funds have also recently made changes to their positions in the company. Samlyn Capital LLC purchased a new position in Rocket Companies during the first quarter worth about $5,096,000. AQR Arbitrage LLC purchased a new position in Rocket Companies during the first quarter worth about $136,000. AQR Capital Management LLC boosted its holdings in Rocket Companies by 1,086.5% during the first quarter. AQR Capital Management LLC now owns 400,467 shares of the company's stock worth $4,734,000 after purchasing an additional 366,716 shares during the last quarter. Amundi boosted its holdings in Rocket Companies by 3.1% during the first quarter. Amundi now owns 33,416 shares of the company's stock worth $403,000 after purchasing an additional 997 shares during the last quarter. Finally, Alight Capital Management LP boosted its holdings in Rocket Companies by 8.3% during the first quarter. Alight Capital Management LP now owns 325,000 shares of the company's stock worth $3,923,000 after purchasing an additional 25,000 shares during the last quarter. 4.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on RKT shares. Jefferies Financial Group lifted their price objective on shares of Rocket Companies from $11.50 to $14.00 and gave the stock a "hold" rating in a research report on Tuesday, July 22nd. Morgan Stanley began coverage on shares of Rocket Companies in a report on Thursday, August 14th. They set an "equal weight" rating and a $16.00 target price on the stock. Keefe, Bruyette & Woods boosted their price target on shares of Rocket Companies from $14.00 to $15.00 and gave the stock a "market perform" rating in a research note on Tuesday, August 5th. UBS Group set a $16.00 price target on shares of Rocket Companies and gave the stock a "neutral" rating in a report on Tuesday, August 5th. Finally, The Goldman Sachs Group raised their target price on shares of Rocket Companies from $14.00 to $16.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Rocket Companies has an average rating of "Hold" and an average price target of $16.50.

Rocket Companies Price Performance

Shares of RKT stock traded up $0.01 during mid-day trading on Friday, hitting $21.12. The company had a trading volume of 22,586,433 shares, compared to its average volume of 20,659,364. Rocket Companies, Inc. has a 52-week low of $10.06 and a 52-week high of $22.56. The stock's 50 day moving average price is $16.98 and its 200-day moving average price is $14.56. 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 company has a market capitalization of $44.45 billion, a P/E ratio of -422.40 and a beta of 2.30.

Rocket Companies (NYSE:RKT - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.01. Rocket Companies had a negative net margin of 0.01% and a positive return on equity of 3.18%. The company had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.28 billion. During the same quarter in the previous year, the business posted $0.06 earnings per share. Rocket Companies's quarterly revenue was up 4.5% on a year-over-year basis. Rocket Companies has set its Q3 2025 guidance at EPS. Equities research analysts forecast that Rocket Companies, Inc. will post 0.15 earnings per share for the current year.

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.