Rocket Companies, Inc. $RKT is Hillman Co.’s 7th Largest Position

Hillman Co. lowered its position in shares of Rocket Companies, Inc. (NYSE:RKT) by 13.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,085,554 shares of the company’s stock after selling 173,625 shares during the quarter. Rocket Companies makes up about 7.3% of Hillman Co.’s holdings, making the stock its 7th largest holding. Hillman Co. owned 0.05% of Rocket Companies worth $21,016,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Brooktree Capital Management raised its stake in Rocket Companies by 27.5% in the 3rd quarter. Brooktree Capital Management now owns 148,653 shares of the company’s stock valued at $2,881,000 after purchasing an additional 32,088 shares during the last quarter. Cibc World Market Inc. acquired a new stake in Rocket Companies during the 3rd quarter worth $2,689,000. Udine Wealth Management Inc. grew its holdings in shares of Rocket Companies by 86.1% during the third quarter. Udine Wealth Management Inc. now owns 168,070 shares of the company’s stock worth $3,257,000 after buying an additional 77,736 shares in the last quarter. Thames Capital Management LLC grew its holdings in shares of Rocket Companies by 54.3% during the third quarter. Thames Capital Management LLC now owns 1,106,003 shares of the company’s stock worth $21,434,000 after buying an additional 389,101 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of Rocket Companies by 1,330.4% during the second quarter. Russell Investments Group Ltd. now owns 197,393 shares of the company’s stock worth $2,799,000 after buying an additional 183,593 shares in the last quarter. Hedge funds and other institutional investors own 4.59% of the company’s stock.

Insider Buying and Selling at Rocket Companies

In other news, Director Matthew Rizik sold 2,500 shares of the stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $22.99, for a total value of $57,475.00. Following the completion of the sale, the director owned 1,038,536 shares of the company’s stock, valued at $23,875,942.64. This represents a 0.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 7,500 shares of company stock valued at $167,575. Corporate insiders own 92.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Compass Point initiated coverage on shares of Rocket Companies in a research note on Tuesday, March 10th. They issued a “buy” rating and a $21.00 price target on the stock. Jefferies Financial Group initiated coverage on shares of Rocket Companies in a research note on Friday, December 19th. They set a “buy” rating and a $25.00 price objective for the company. Barclays set a $22.00 price objective on shares of Rocket Companies and gave the company an “equal weight” rating in a report on Tuesday, January 6th. Wells Fargo & Company boosted their target price on Rocket Companies from $17.00 to $19.00 and gave the stock an “equal weight” rating in a report on Friday, February 27th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Rocket Companies in a research report on Monday, December 29th. Seven research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $21.14.

Rocket Companies Trading Up 1.5%

Shares of RKT stock opened at $14.47 on Thursday. The company’s 50-day moving average price is $17.12 and its 200-day moving average price is $18.26. The company has a current ratio of 70.90, a quick ratio of 70.90 and a debt-to-equity ratio of 1.07. The stock has a market cap of $40.79 billion, a price-to-earnings ratio of -111.27 and a beta of 2.34. Rocket Companies, Inc. has a twelve month low of $10.94 and a twelve month high of $24.36.

Rocket Companies (NYSE:RKT) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. Rocket Companies had a negative net margin of 1.02% and a positive return on equity of 3.04%. The firm had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the prior year, the firm posted $0.04 earnings per share. Rocket Companies’s quarterly revenue was up 52.2% on a year-over-year basis. As a group, equities analysts predict that Rocket Companies, Inc. will post 0.15 earnings per share for the current year.

Rocket Companies Company 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.