Tema Etfs LLC Makes New $675,000 Investment in Rocket Companies, Inc. $RKT

Tema Etfs LLC acquired a new position in shares of Rocket Companies, Inc. (NYSE:RKT) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 34,875 shares of the company’s stock, valued at approximately $675,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Royal Bank of Canada raised its stake in Rocket Companies by 48.9% during the first quarter. Royal Bank of Canada now owns 69,641 shares of the company’s stock valued at $841,000 after purchasing an additional 22,861 shares in the last quarter. Amundi grew its stake in shares of Rocket Companies by 3.1% in the 1st quarter. Amundi now owns 33,416 shares of the company’s stock worth $403,000 after buying an additional 997 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Rocket Companies by 1,086.5% in the 1st quarter. AQR Capital Management LLC now owns 400,467 shares of the company’s stock worth $4,734,000 after buying an additional 366,716 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Rocket Companies by 12.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 370,619 shares of the company’s stock worth $4,473,000 after buying an additional 40,326 shares during the last quarter. Finally, Creative Planning raised its position in shares of Rocket Companies by 17.2% during the 2nd quarter. Creative Planning now owns 18,215 shares of the company’s stock valued at $258,000 after buying an additional 2,679 shares in the last quarter. 4.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on RKT shares. Barclays set a $22.00 price target on shares of Rocket Companies and gave the company an “equal weight” rating in a report on Tuesday, January 6th. Keefe, Bruyette & Woods upgraded Rocket Companies from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $20.00 to $22.00 in a research report on Monday, March 16th. Jefferies Financial Group began coverage on Rocket Companies in a research note on Friday, December 19th. They issued a “buy” rating and a $25.00 price objective for the company. Citizens Jmp started coverage on Rocket Companies in a report on Wednesday, March 25th. They issued a “market perform” rating for the company. Finally, JPMorgan Chase & Co. started coverage on Rocket Companies in a research report on Monday, January 12th. They set a “neutral” rating and a $24.00 target price on the stock. Seven analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $21.14.

Rocket Companies Price Performance

RKT stock opened at $14.95 on Friday. The stock has a market cap of $42.16 billion, a PE ratio of -115.02 and a beta of 2.34. Rocket Companies, Inc. has a 12 month low of $10.94 and a 12 month high of $24.36. The company has a 50-day moving average price of $16.99 and a 200 day moving average price of $18.24. The company has a current ratio of 70.90, a quick ratio of 70.90 and a debt-to-equity ratio of 1.07.

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

Insider Activity 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 stock was sold at an average price of $22.99, for a total value of $57,475.00. Following the sale, the director directly owned 1,038,536 shares in the company, valued at approximately $23,875,942.64. This represents a 0.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 7,500 shares of company stock worth $167,575 over the last quarter. Corporate insiders own 92.64% of the company’s stock.

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.