Levin Capital Strategies L.P. Takes Position in Rocket Companies, Inc. $RKT

Levin Capital Strategies L.P. bought a new position in shares of Rocket Companies, Inc. (NYSE:RKT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 21,846 shares of the company’s stock, valued at approximately $310,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RKT. Boston Partners grew its position in Rocket Companies by 11.3% during the 1st quarter. Boston Partners now owns 13,704,339 shares of the company’s stock worth $165,421,000 after purchasing an additional 1,390,559 shares during the period. Vanguard Group Inc. boosted its stake in shares of Rocket Companies by 2.2% in the first quarter. Vanguard Group Inc. now owns 12,793,549 shares of the company’s stock worth $154,418,000 after buying an additional 273,475 shares during the last quarter. Nuveen LLC acquired a new stake in Rocket Companies during the first quarter worth about $96,470,000. Wellington Management Group LLP grew its holdings in Rocket Companies by 1.5% during the first quarter. Wellington Management Group LLP now owns 4,774,324 shares of the company’s stock worth $57,626,000 after acquiring an additional 69,147 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new position in Rocket Companies during the second quarter valued at approximately $44,102,000. 4.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RKT has been the topic of a number of analyst reports. BTIG Research reaffirmed a “buy” rating and set a $25.00 price objective on shares of Rocket Companies in a research note on Friday, October 10th. UBS Group set a $17.00 price target on shares of Rocket Companies and gave the stock a “neutral” rating in a report on Friday, October 10th. Barclays set a $19.00 price objective on shares of Rocket Companies and gave the company a “cautious” rating in a report on Monday, October 6th. Wall Street Zen raised shares of Rocket Companies from a “sell” rating to a “hold” rating in a research note on Saturday, October 11th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $22.00 target price (up from $16.00) on shares of Rocket Companies in a research report on Wednesday, October 29th. Three analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $17.58.

Rocket Companies Stock Performance

NYSE:RKT opened at $16.91 on Tuesday. The company has a debt-to-equity ratio of 2.16, a quick ratio of 18.74 and a current ratio of 19.68. The stock has a market capitalization of $35.58 billion, a PE ratio of 211.34 and a beta of 2.21. Rocket Companies, Inc. has a fifty-two week low of $10.06 and a fifty-two week high of $22.56. The company has a fifty day moving average of $18.43 and a two-hundred day moving average of $15.72.

Rocket Companies (NYSE:RKT) last released its earnings results on Thursday, October 30th. The company reported $0.07 EPS for the quarter, hitting analysts’ consensus estimates of $0.07. Rocket Companies had a negative net margin of 1.77% and a positive return on equity of 2.83%. The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the previous year, the company earned $0.08 earnings per share. The company’s quarterly revenue was up 148.1% on a year-over-year basis. Rocket Companies has set its Q4 2025 guidance at EPS. As a group, research 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.