TIG Advisors LLC Takes Position in Rocket Companies, Inc. $RKT

Key Points

• TIG Advisors LLC has acquired 66,000 shares of Rocket Companies, Inc. (NYSE:RKT), valued at approximately $797,000.
• Multiple institutional investors increased their holdings in Rocket Companies during the fourth quarter, with notable changes including a 461.4% increase from Tower Research Capital LLC.
• Rocket Companies reported fourth-quarter earnings of $0.04 EPS, surpassing analyst expectations and showing a 4.5% year-over-year revenue increase.

TIG Advisors LLC bought a new position in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 66,000 shares of the company's stock, valued at approximately $797,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Envestnet Asset Management Inc. boosted its stake in Rocket Companies by 34.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 22,413 shares of the company's stock valued at $252,000 after acquiring an additional 5,710 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Rocket Companies by 7.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 247,778 shares of the company's stock worth $2,790,000 after purchasing an additional 18,169 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Rocket Companies by 461.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 20,384 shares of the company's stock worth $230,000 after purchasing an additional 16,753 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Rocket Companies by 8.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 81,613 shares of the company's stock valued at $919,000 after buying an additional 6,622 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Rocket Companies by 9.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 27,825 shares of the company's stock valued at $313,000 after buying an additional 2,437 shares in the last quarter. Institutional investors and hedge funds own 4.59% of the company's stock.

Rocket Companies Trading Up 4.2%

Shares of RKT traded up $0.72 during mid-day trading on Wednesday, reaching $17.88. The company had a trading volume of 17,729,353 shares, compared to its average volume of 17,908,388. The stock has a market cap of $37.62 billion, a price-to-earnings ratio of -357.56 and a beta of 2.30. The firm has a fifty day simple moving average of $16.12 and a 200-day simple moving average of $14.21. Rocket Companies, Inc. has a fifty-two week low of $10.06 and a fifty-two week high of $21.38. The company has a current ratio of 18.74, a quick ratio of 18.74 and a debt-to-equity ratio of 2.36.

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, beating analysts' consensus estimates of $0.03 by $0.01. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.28 billion. Rocket Companies had a negative net margin of 0.01% and a positive return on equity of 3.18%. Rocket Companies's revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the business earned $0.06 EPS. Rocket Companies has set its Q3 2025 guidance at EPS. On average, sell-side analysts anticipate that Rocket Companies, Inc. will post 0.15 EPS for the current fiscal year.

Analysts Set New Price Targets

RKT has been the topic of several research reports. BTIG Research upgraded shares of Rocket Companies to a "strong-buy" rating in a research report on Tuesday, August 19th. Morgan Stanley initiated coverage on shares of Rocket Companies in a research report on Thursday, August 14th. They issued an "equal weight" rating and a $16.00 price target on the stock. Keefe, Bruyette & Woods increased their price target on shares of Rocket Companies from $14.00 to $15.00 and gave the company a "market perform" rating in a research report on Tuesday, August 5th. Jefferies Financial Group raised their target price 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. Finally, UBS Group set a $16.00 target price on shares of Rocket Companies and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $15.81.

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.