Teacher Retirement System of Texas Makes New Investment in Rocket Companies, Inc. $RKT

Key Points

• Teacher Retirement System of Texas bought a new stake of 165,173 shares in Rocket Companies during Q4, valued at about $3,198,000, and institutional investors now own roughly 4.59% of the company.
• Rocket beat Q4 expectations with EPS $0.11 vs. $0.09 and revenue of $2.44 billion (up 52.2% YoY), but the company still reported a negative net margin (-1.02%) and a negative P/E.
• RKT trades near $15.45 (52‑week range $11.08–$24.36) with a $43.6B market cap; analyst coverage is mixed—consensus rating "Hold" with an average target of $20.40 and several recent upgrades to buy/outperform.

Teacher Retirement System of Texas purchased a new stake in Rocket Companies, Inc. (NYSE:RKT - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 165,173 shares of the company's stock, valued at approximately $3,198,000.

Other hedge funds also recently made changes to their positions in the company. HB Wealth Management LLC bought a new position in shares of Rocket Companies during the 4th quarter worth about $428,000. Kingswood Wealth Advisors LLC grew its holdings in shares of Rocket Companies by 4.2% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 56,478 shares of the company's stock worth $1,093,000 after purchasing an additional 2,286 shares during the last quarter. Momentum Wealth Planning LLC acquired a new stake in shares of Rocket Companies during the fourth quarter worth approximately $248,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Rocket Companies during the 4th quarter valued at $1,584,000. Finally, City State Bank acquired a new stake in shares of Rocket Companies in the fourth quarter valued at $30,000. Institutional investors and hedge funds own 4.59% of the company's stock.

Rocket Companies Stock Down 0.9%

Shares of RKT stock opened at $15.45 on Tuesday. Rocket Companies, Inc. has a 52-week low of $11.08 and a 52-week high of $24.36. The stock has a market cap of $43.57 billion, a price-to-earnings ratio of -118.86 and a beta of 2.34. The firm's 50-day moving average is $15.58 and its 200-day moving average is $17.78. The company has a debt-to-equity ratio of 1.07, a quick ratio of 70.90 and a current ratio of 70.90.

Rocket Companies (NYSE:RKT - Get Free Report) last issued its earnings results on Thursday, February 26th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.09 by $0.02. Rocket Companies had a positive return on equity of 3.04% and a negative net margin of 1.02%.The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the previous year, the company posted $0.04 EPS. The firm's revenue for the quarter was up 52.2% compared to the same quarter last year. Sell-side analysts predict that Rocket Companies, Inc. will post 0.65 EPS for the current year.

Analysts Set New Price Targets

RKT has been the subject of a number of research reports. Keefe, Bruyette & Woods raised shares of Rocket Companies from a "market perform" rating to an "outperform" rating and raised their price target for the company from $20.00 to $22.00 in a report on Monday, March 16th. Compass Point initiated coverage on Rocket Companies in a research note on Tuesday, March 10th. They issued a "buy" rating and a $21.00 price target for the company. Weiss Ratings restated a "sell (d+)" rating on shares of Rocket Companies in a research report on Monday, December 29th. Citizens Jmp assumed coverage on shares of Rocket Companies in a report on Wednesday, March 25th. They set a "market perform" rating on the stock. Finally, Stephens assumed coverage on Rocket Companies in a research note on Thursday. They issued an "overweight" rating and a $22.50 price target on the stock. Nine research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Rocket Companies has a consensus rating of "Hold" and an average target price of $20.40.

Rocket Companies Company Profile

Rocket Companies, Inc is a Detroit-based holding company whose businesses are centered on digital mortgage origination and related consumer finance and real estate services. The company grew out of the Quicken Loans franchise and completed an initial public offering in 2020. Founder Dan Gilbert remains a prominent figure associated with the firm, which operates a suite of brands that aim to simplify the home financing and buying experience through technology and scale.

The company's core activity is mortgage lending through its Rocket Mortgage platform, which offers online application, underwriting and servicing for home purchase and refinance loans.

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