Venture Visionary Partners LLC Purchases 37,846 Shares of Rocket Companies, Inc. $RKT

Venture Visionary Partners LLC grew its position in shares of Rocket Companies, Inc. (NYSE:RKT) by 21.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 214,639 shares of the company’s stock after acquiring an additional 37,846 shares during the period. Venture Visionary Partners LLC’s holdings in Rocket Companies were worth $4,155,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. ORG Partners LLC grew its position in Rocket Companies by 22.3% during the 4th quarter. ORG Partners LLC now owns 2,857 shares of the company’s stock worth $55,000 after acquiring an additional 520 shares during the last quarter. Manchester Capital Management LLC raised its stake in Rocket Companies by 0.5% during the fourth quarter. Manchester Capital Management LLC now owns 116,466 shares of the company’s stock valued at $2,255,000 after buying an additional 618 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Rocket Companies by 3.5% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 18,817 shares of the company’s stock valued at $365,000 after buying an additional 636 shares during the last quarter. Composition Wealth LLC increased its holdings in shares of Rocket Companies by 2.7% in the 4th quarter. Composition Wealth LLC now owns 25,323 shares of the company’s stock worth $490,000 after purchasing an additional 668 shares in the last quarter. Finally, Parallel Advisors LLC increased its holdings in shares of Rocket Companies by 26.1% in the 3rd quarter. Parallel Advisors LLC now owns 3,267 shares of the company’s stock worth $63,000 after purchasing an additional 677 shares in the last quarter. 4.59% of the stock is currently owned by institutional investors.

Rocket Companies Stock Up 6.7%

Shares of NYSE:RKT opened at $13.95 on Tuesday. Rocket Companies, Inc. has a 52-week low of $12.17 and a 52-week high of $24.36. The stock has a market cap of $39.47 billion, a P/E ratio of 279.02 and a beta of 2.19. The business’s 50 day moving average is $14.41 and its 200 day moving average is $17.05. The company has a quick ratio of 4.37, a current ratio of 4.37 and a debt-to-equity ratio of 1.13.

Rocket Companies (NYSE:RKT) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.03. The company had revenue of $2.82 billion for the quarter, compared to analysts’ expectations of $2.76 billion. Rocket Companies had a return on equity of 4.30% and a net margin of 2.78%.Rocket Companies’s revenue was up 167.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.04 earnings per share. Sell-side analysts predict that Rocket Companies, Inc. will post 0.65 EPS for the current year.

Analyst Ratings Changes

Several analysts recently commented on the company. Weiss Ratings raised Rocket Companies from a “sell (d)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. Citizens Jmp initiated coverage on Rocket Companies in a research report on Wednesday, March 25th. They issued a “market perform” rating on the stock. Wells Fargo & Company decreased their target price on Rocket Companies from $19.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 9th. Stephens assumed coverage on Rocket Companies in a research report on Thursday, April 23rd. They issued an “overweight” rating and a $22.50 target price on the stock. Finally, Compass Point assumed coverage on Rocket Companies in a research report on Tuesday, March 10th. They set a “buy” rating and a $21.00 price objective on the stock. Nine equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.93.

Rocket Companies 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.