Wellington Management Group LLP Has $57.63 Million Stock Position in Rocket Companies, Inc. $RKT

Key Points

• Wellington Management Group LLP increased its holdings in Rocket Companies by 1.5%, acquiring an additional 69,147 shares, bringing its total ownership to approximately 4.77 million shares valued at $57.6 million.
• Rocket Companies' stock price rose by 9.5%, opening at $19.25, and the company reported a quarterly revenue of $1.36 billion, exceeding analyst expectations of $1.28 billion.
• Institutional investors significantly boosted their stakes in Rocket Companies, with Mather Group and Parallel Advisors increasing their positions by over 300% during the first quarter.

Wellington Management Group LLP increased its holdings in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) by 1.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,774,324 shares of the company's stock after buying an additional 69,147 shares during the quarter. Wellington Management Group LLP owned 0.24% of Rocket Companies worth $57,626,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of RKT. Brooklyn Investment Group boosted its holdings in shares of Rocket Companies by 251.3% in the first quarter. Brooklyn Investment Group now owns 3,390 shares of the company's stock valued at $41,000 after buying an additional 2,425 shares during the period. TriaGen Wealth Management LLC bought a new position in shares of Rocket Companies during the first quarter worth about $482,000. Northwest & Ethical Investments L.P. acquired a new position in Rocket Companies during the 1st quarter worth approximately $280,000. Raymond James Financial Inc. boosted its stake in shares of Rocket Companies by 17.5% during the 1st quarter. Raymond James Financial Inc. now owns 361,975 shares of the company's stock worth $4,369,000 after buying an additional 53,887 shares during the last quarter. Finally, Cresset Asset Management LLC boosted its position in Rocket Companies by 10.7% during the first quarter. Cresset Asset Management LLC now owns 17,542 shares of the company's stock valued at $226,000 after purchasing an additional 1,693 shares during the last quarter. 4.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on RKT. The Goldman Sachs Group increased their price target on shares of Rocket Companies from $14.00 to $16.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. Barclays lifted their target price on Rocket Companies from $14.00 to $16.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. Jefferies Financial Group increased their price target on Rocket Companies from $11.50 to $14.00 and gave the company a "hold" rating in a research note on Tuesday, July 22nd. UBS Group set a $16.00 price objective on shares of Rocket Companies and gave the company a "neutral" rating in a report on Tuesday, August 5th. Finally, Wedbush reaffirmed a "neutral" rating and set a $12.00 target price (down previously from $13.00) on shares of Rocket Companies in a report on Friday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $15.81.

Rocket Companies Price Performance

Shares of RKT stock traded down $0.50 on Monday, reaching $18.71. The company had a trading volume of 14,793,042 shares, compared to its average volume of 20,848,112. The business's 50-day moving average is $15.59 and its 200 day moving average is $13.97. Rocket Companies, Inc. has a one year low of $10.06 and a one year high of $21.38. The company has a quick ratio of 18.74, a current ratio of 18.74 and a debt-to-equity ratio of 2.36. The stock has a market capitalization of $39.38 billion, a PE ratio of -374.20 and a beta of 2.28.

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