Venture Visionary Partners LLC Has $4.16 Million Stock Holdings in Rocket Companies, Inc. $RKT

Venture Visionary Partners LLC raised its stake in shares of Rocket Companies, Inc. (NYSE:RKT) by 21.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 214,639 shares of the company’s stock after purchasing an additional 37,846 shares during the period. Venture Visionary Partners LLC’s holdings in Rocket Companies were worth $4,155,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RKT. Vanguard Group Inc. lifted its holdings in shares of Rocket Companies by 280.3% during the fourth quarter. Vanguard Group Inc. now owns 87,256,540 shares of the company’s stock valued at $1,689,287,000 after acquiring an additional 64,311,040 shares during the period. Morgan Stanley grew its position in shares of Rocket Companies by 461.2% during the 4th quarter. Morgan Stanley now owns 27,009,279 shares of the company’s stock worth $522,900,000 after buying an additional 22,196,782 shares during the period. State Street Corp grew its position in shares of Rocket Companies by 323.9% during the 4th quarter. State Street Corp now owns 20,688,336 shares of the company’s stock worth $400,526,000 after buying an additional 15,807,776 shares during the period. Geode Capital Management LLC grew its position in shares of Rocket Companies by 265.0% in the 4th quarter. Geode Capital Management LLC now owns 15,539,351 shares of the company’s stock valued at $299,939,000 after purchasing an additional 11,282,009 shares during the period. Finally, Durable Capital Partners LP acquired a new position in shares of Rocket Companies in the 3rd quarter valued at approximately $213,010,000. 4.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on RKT. Royal Bank Of Canada restated a “sector perform” rating and issued a $20.00 target price on shares of Rocket Companies in a research note on Monday, May 11th. Stephens initiated coverage on Rocket Companies in a research note on Thursday, April 23rd. They issued an “overweight” rating and a $22.50 price objective on the stock. Compass Point initiated coverage on shares of Rocket Companies in a report on Tuesday, March 10th. They set a “buy” rating and a $21.00 price target on the stock. JPMorgan Chase & Co. dropped their price target on Rocket Companies from $24.00 to $16.50 and set a “neutral” rating on the stock in a research note on Thursday, April 9th. Finally, Barclays raised Rocket Companies from an “equal weight” rating to an “overweight” rating and dropped their price target for the company from $22.00 to $19.00 in a research note on Monday, April 6th. Nine equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $20.93.

Rocket Companies Stock Up 6.7%

Shares of NYSE RKT opened at $13.95 on Tuesday. 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 business’s fifty day moving average price is $14.41 and its 200-day moving average price is $17.05. The stock has a market capitalization of $39.47 billion, a PE ratio of 279.02 and a beta of 2.19.

Rocket Companies (NYSE:RKT) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.03. The firm 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 business’s revenue for the quarter was up 167.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.04 EPS. On average, equities research analysts anticipate that Rocket Companies, Inc. will post 0.65 EPS for the current year.

About Rocket Companies

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.