Boston Partners Has $136.46 Million Stake in Rocket Companies, Inc. (NYSE:RKT)

Boston Partners increased its holdings in shares of Rocket Companies, Inc. (NYSE:RKT) by 4.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,382,173 shares of the company’s stock after purchasing an additional 381,841 shares during the quarter. Boston Partners owned approximately 0.47% of Rocket Companies worth $136,462,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Rocket Companies by 10.4% during the fourth quarter. Vanguard Group Inc. now owns 11,702,838 shares of the company’s stock worth $169,457,000 after purchasing an additional 1,101,325 shares during the last quarter. Capital World Investors lifted its stake in Rocket Companies by 0.3% in the fourth quarter. Capital World Investors now owns 3,642,099 shares of the company’s stock valued at $52,738,000 after acquiring an additional 10,068 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Rocket Companies by 5.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 716,974 shares of the company’s stock valued at $10,382,000 after acquiring an additional 35,470 shares during the last quarter. Capital Fund Management S.A. lifted its stake in Rocket Companies by 27.8% in the fourth quarter. Capital Fund Management S.A. now owns 502,110 shares of the company’s stock valued at $7,271,000 after acquiring an additional 109,278 shares during the last quarter. Finally, Swiss National Bank lifted its stake in Rocket Companies by 4.1% in the first quarter. Swiss National Bank now owns 237,000 shares of the company’s stock valued at $3,448,000 after acquiring an additional 9,300 shares during the last quarter. Institutional investors and hedge funds own 4.59% of the company’s stock.

Rocket Companies Price Performance

Shares of RKT traded up $1.89 during mid-day trading on Friday, reaching $17.25. The company had a trading volume of 11,339,011 shares, compared to its average volume of 3,165,213. The company’s 50 day simple moving average is $14.45 and its 200 day simple moving average is $13.30. Rocket Companies, Inc. has a 1-year low of $7.17 and a 1-year high of $17.54. The company has a debt-to-equity ratio of 1.20, a quick ratio of 12.83 and a current ratio of 12.83. The company has a market capitalization of $34.30 billion, a price-to-earnings ratio of 156.83 and a beta of 2.43.

Rocket Companies (NYSE:RKT) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.08. Rocket Companies had a net margin of 0.29% and a return on equity of 0.91%. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.02 billion. Analysts expect that Rocket Companies, Inc. will post 0.23 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Barclays increased their price target on shares of Rocket Companies from $9.00 to $10.00 and gave the company an “underweight” rating in a research note on Tuesday, July 9th. JPMorgan Chase & Co. increased their price objective on shares of Rocket Companies from $13.50 to $15.00 and gave the company an “underweight” rating in a research report on Friday. Piper Sandler increased their price objective on shares of Rocket Companies from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Tuesday, May 7th. Wedbush increased their price objective on shares of Rocket Companies from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Wells Fargo & Company increased their price objective on shares of Rocket Companies from $13.00 to $15.00 and gave the company an “equal weight” rating in a research report on Friday. Six research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $12.06.

About Rocket Companies

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.