Lodge Hill Capital LLC Has $33.93 Million Holdings in Rocket Companies, Inc. $RKT

Lodge Hill Capital LLC boosted its stake in shares of Rocket Companies, Inc. (NYSE:RKT) by 7.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 2,381,150 shares of the company’s stock after buying an additional 175,000 shares during the period. Rocket Companies makes up approximately 5.0% of Lodge Hill Capital LLC’s holdings, making the stock its 4th biggest holding. Lodge Hill Capital LLC’s holdings in Rocket Companies were worth $33,931,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Truvestments Capital LLC bought a new stake in shares of Rocket Companies during the fourth quarter worth $26,000. Acumen Wealth Advisors LLC bought a new stake in Rocket Companies in the 4th quarter valued at $26,000. Pinnacle Bancorp Inc. boosted its stake in Rocket Companies by 369.7% in the 4th quarter. Pinnacle Bancorp Inc. now owns 1,503 shares of the company’s stock worth $29,000 after purchasing an additional 1,183 shares during the period. City State Bank acquired a new position in Rocket Companies in the 4th quarter worth $30,000. Finally, Smithfield Trust Co bought a new position in Rocket Companies during the 4th quarter worth about $32,000. Institutional investors own 4.59% of the company’s stock.

Rocket Companies Trading Down 2.0%

Shares of NYSE:RKT opened at $13.69 on Thursday. The company’s 50-day moving average price is $14.08 and its two-hundred day moving average price is $15.89. Rocket Companies, Inc. has a one year low of $12.17 and a one year high of $24.36. The company has a debt-to-equity ratio of 1.13, a current ratio of 4.37 and a quick ratio of 4.37. The stock has a market capitalization of $38.75 billion, a PE ratio of 273.88 and a beta of 2.16.

Rocket Companies (NYSE:RKT) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.03. The company had revenue of $2.82 billion during 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 for the quarter was up 167.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.04 EPS. On average, equities analysts forecast that Rocket Companies, Inc. will post 0.54 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on RKT. Keefe, Bruyette & Woods dropped their price target on Rocket Companies from $21.00 to $20.00 and set an “outperform” rating on the stock in a research note on Thursday, June 25th. Zacks Research upgraded Rocket Companies from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 12th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $20.00 target price on shares of Rocket Companies in a research report on Monday, May 11th. BTIG Research restated a “neutral” rating on shares of Rocket Companies in a research note on Tuesday, June 16th. Finally, Barclays cut their target price on Rocket Companies from $19.00 to $17.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $20.73.

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.