Strs Ohio Acquires New Stake in Rocket Companies, Inc. $RKT

Key Points

• Strs Ohio has acquired 47,036 shares of Rocket Companies, Inc. valued at approximately $568,000, marking a new position in the company during the first quarter.
• Multiple hedge funds have significantly increased their stakes in Rocket Companies, with Mather Group LLC boosting its ownership by 312.2%.
• Analysts have given the stock a mixed outlook, with ratings ranging from a Strong Buy to a Sell, and an average target price of $16.50.

Strs Ohio purchased a new stake in Rocket Companies, Inc. (NYSE:RKT - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 47,036 shares of the company's stock, valued at approximately $568,000.

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods lifted their target price on Rocket Companies from $14.00 to $15.00 and gave the stock a "market perform" rating in a research report on Tuesday, August 5th. The Goldman Sachs Group raised their price target on shares of Rocket Companies from $14.00 to $16.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. Morgan Stanley assumed coverage on shares of Rocket Companies in a research note on Thursday, August 14th. They set an "equal weight" rating and a $16.00 price target for the company. Bank of America upgraded shares of Rocket Companies from a "neutral" rating to a "buy" rating and raised their price target for the stock from $21.00 to $24.00 in a research note on Wednesday, September 10th. Finally, UBS Group set a $16.00 price target on shares of Rocket Companies and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $16.50.

Rocket Companies Trading Up 0.0%

Shares of RKT stock traded up $0.01 on Tuesday, hitting $19.83. The stock had a trading volume of 11,880,236 shares, compared to its average volume of 13,958,382. Rocket Companies, Inc. has a twelve month low of $10.06 and a twelve month high of $22.56. The firm has a market cap of $41.72 billion, a P/E ratio of -397.08 and a beta of 2.29. 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 fifty day moving average price of $17.82 and a two-hundred day moving average price of $14.84.

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 (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 company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the business earned $0.06 EPS. The firm's revenue was up 4.5% on a year-over-year basis. Rocket Companies has set its Q3 2025 guidance at EPS. As a group, analysts forecast that Rocket Companies, Inc. will post 0.15 earnings per share for the current fiscal year.

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.