SCS Capital Management LLC Takes Position in Rocket Companies, Inc. $RKT

Key Points

• SCS Capital Management LLC recently acquired a new stake in Rocket Companies, purchasing 35,672 shares valued at around $431,000.
• Rocket Companies reported a quarterly revenue of $1.36 billion, surpassing analyst estimates of $1.28 billion, along with an EPS of $0.04, beating expectations.
• Several analysts have upgraded their ratings on Rocket Companies' stock, with Bank of America raising their price target from $21.00 to $24.00 and changing the rating from "neutral" to "buy."

SCS Capital Management LLC bought a new stake in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 35,672 shares of the company's stock, valued at approximately $431,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Mather Group LLC. increased its position in Rocket Companies by 312.2% during the 1st quarter. Mather Group LLC. now owns 2,601 shares of the company's stock valued at $31,000 after purchasing an additional 1,970 shares during the period. Parallel Advisors LLC raised its holdings in shares of Rocket Companies by 302.2% in the 1st quarter. Parallel Advisors LLC now owns 2,956 shares of the company's stock valued at $36,000 after purchasing an additional 2,221 shares in the last quarter. Brooklyn Investment Group raised its holdings 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 in the last quarter. GAMMA Investing LLC raised its holdings 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 in the last quarter. Finally, Signaturefd LLC raised its holdings in shares of Rocket Companies by 147.1% in the 1st quarter. Signaturefd LLC now owns 4,372 shares of the company's stock valued at $53,000 after purchasing an additional 2,603 shares in the last quarter. 4.59% of the stock is owned by hedge funds and other institutional investors.

Rocket Companies Stock Performance

RKT stock opened at $21.13 on Friday. The firm has a market cap of $44.47 billion, a price-to-earnings ratio of -422.60 and a beta of 2.30. The firm has a 50-day simple moving average of $16.84 and a two-hundred day simple moving average of $14.51. Rocket Companies, Inc. has a one year low of $10.06 and a one year high of $22.56. 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 released its quarterly earnings results on Thursday, July 31st. The company reported $0.04 EPS for the quarter, beating 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 business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the prior year, the firm posted $0.06 earnings per share. The company's quarterly revenue was up 4.5% on a year-over-year basis. Rocket Companies has set its Q3 2025 guidance at EPS. On average, equities analysts forecast that Rocket Companies, Inc. will post 0.15 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods boosted their price target on shares of Rocket Companies from $14.00 to $15.00 and gave the company a "market perform" rating in a report on Tuesday, August 5th. Bank of America upgraded shares of Rocket Companies from a "neutral" rating to a "buy" rating and boosted their price target for the company from $21.00 to $24.00 in a report on Wednesday. Morgan Stanley assumed coverage on shares of Rocket Companies in a report on Thursday, August 14th. They issued an "equal weight" rating and a $16.00 price target for the company. BTIG Research upgraded shares of Rocket Companies to a "strong-buy" rating in a report on Tuesday, August 19th. Finally, Jefferies Financial Group increased their price target on shares of Rocket Companies from $11.50 to $14.00 and gave the company a "hold" rating in a research report on Tuesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Rocket Companies presently has a consensus rating of "Hold" and a consensus price target of $16.50.

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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