87,393 Shares in Rocket Companies, Inc. $RKT Acquired by Kryger Capital LLC

Kryger Capital LLC bought a new stake in Rocket Companies, Inc. (NYSE:RKTFree Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 87,393 shares of the company’s stock, valued at approximately $1,245,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RKT. Royal Bank of Canada lifted 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 worth $841,000 after purchasing an additional 22,861 shares in the last quarter. Amundi boosted its position in shares of Rocket Companies by 3.1% during the first quarter. Amundi now owns 33,416 shares of the company’s stock worth $403,000 after buying an additional 997 shares during the period. AQR Capital Management LLC grew its stake in shares of Rocket Companies by 1,086.5% in the first quarter. AQR Capital Management LLC now owns 400,467 shares of the company’s stock valued at $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 grew its stake in shares of Rocket Companies by 12.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 370,619 shares of the company’s stock valued at $4,473,000 after buying an additional 40,326 shares in the last quarter. Finally, Creative Planning raised its holdings in shares of Rocket Companies by 17.2% in 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 during the period. Hedge funds and other institutional investors own 4.59% of the company’s stock.

Key Stories Impacting Rocket Companies

Here are the key news stories impacting Rocket Companies this week:

Rocket Companies Stock Up 2.4%

Rocket Companies stock opened at $13.09 on Friday. Rocket Companies, Inc. has a twelve month low of $12.17 and a twelve month high of $24.36. The stock’s fifty day simple moving average is $14.04 and its 200-day simple moving average is $16.08. The company has a current ratio of 4.37, a quick ratio of 4.37 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $37.02 billion, a P/E ratio of 261.70 and a beta of 2.16.

Rocket Companies (NYSE:RKTGet Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.03. The business 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%.The company’s revenue for the quarter was up 167.1% compared to the same quarter last year. During the same period last year, the firm earned $0.04 earnings per share. As a group, equities analysts expect that Rocket Companies, Inc. will post 0.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Weiss Ratings raised Rocket Companies from a “sell (d)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. Barclays dropped their target price on Rocket Companies from $19.00 to $17.00 and set an “overweight” rating for the company in a research report on Tuesday, July 7th. BTIG Research reiterated a “neutral” rating on shares of Rocket Companies in a research note on Tuesday, June 16th. Keefe, Bruyette & Woods reduced their price target on shares of Rocket Companies from $21.00 to $20.00 and set an “outperform” rating on the stock in a research report on Thursday, June 25th. Finally, Stephens initiated coverage on shares of Rocket Companies in a research note on Thursday, April 23rd. They issued an “overweight” rating and a $22.50 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $20.73.

Read Our Latest Analysis on RKT

Rocket Companies Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Rocket Companies (NYSE:RKT)

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