Sierra Summit Advisors LLC Takes Position in Rocket Companies, Inc. $RKT

Sierra Summit Advisors LLC bought a new stake in shares of Rocket Companies, Inc. (NYSE:RKT) during the 3rd quarter, according to its most recent filing with the SEC. The fund bought 900,529 shares of the company’s stock, valued at approximately $17,452,000. Rocket Companies makes up 2.7% of Sierra Summit Advisors LLC’s portfolio, making the stock its 9th largest position.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in RKT. Huntington National Bank lifted its stake in Rocket Companies by 34.4% during the third quarter. Huntington National Bank now owns 26,059 shares of the company’s stock worth $505,000 after purchasing an additional 6,664 shares during the period. R Squared Ltd raised its holdings in shares of Rocket Companies by 23.8% in the 3rd quarter. R Squared Ltd now owns 23,237 shares of the company’s stock worth $450,000 after buying an additional 4,466 shares in the last quarter. Xponance Inc. acquired a new position in shares of Rocket Companies in the 3rd quarter worth approximately $235,000. Choreo LLC bought a new position in shares of Rocket Companies during the 3rd quarter worth approximately $344,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Rocket Companies by 3.5% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 18,817 shares of the company’s stock valued at $365,000 after buying an additional 636 shares in the last quarter. Institutional investors own 4.59% of the company’s stock.

Rocket Companies Trading Up 2.2%

RKT opened at $18.17 on Friday. The firm’s fifty day moving average is $20.01 and its two-hundred day moving average is $18.93. The firm has a market cap of $38.23 billion, a PE ratio of -139.75 and a beta of 2.31. Rocket Companies, Inc. has a twelve month low of $10.94 and a twelve month high of $24.36. The company has a debt-to-equity ratio of 2.16, a quick ratio of 19.68 and a current ratio of 19.68.

Rocket Companies (NYSE:RKT) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. The business had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Rocket Companies had a negative net margin of 1.02% and a positive return on equity of 4.38%. The firm’s quarterly revenue was up 52.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.04 EPS. Equities research analysts anticipate that Rocket Companies, Inc. will post 0.15 EPS for the current year.

Insider Activity

In other news, Director Matthew Rizik sold 2,500 shares of Rocket Companies stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $22.99, for a total transaction of $57,475.00. Following the transaction, the director owned 1,038,536 shares in the company, valued at $23,875,942.64. The trade was a 0.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 32,500 shares of company stock valued at $645,775 in the last ninety days. 92.64% of the stock is owned by corporate insiders.

Trending Headlines about Rocket Companies

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

• Positive Sentiment: Q4 results beat expectations — adjusted EPS $0.11 vs. consensus ~$0.09 and revenue $2.44B, up 52% year?over?year; the market reacted strongly to those beats. Zacks — Q4 Earnings Beat
• Positive Sentiment: Management issued stronger Q1 revenue guidance ( ~$2.6B–$2.8B vs. Street ~ $2.3B ), signaling continued top?line momentum into the new quarter. Company Q4 Press Materials
• Positive Sentiment: Strategic alliance with Compass / Redfin to surface Compass’s exclusive listings could materially expand Rocket’s addressable market and lead generation (company cites potential for ~500k additional listings). PR Newswire — Compass Alliance
• Neutral Sentiment: Analyst action: Wells Fargo raised its price target from $17 to $19 and kept an “equal weight” rating — a modest endorsement but not a buy upgrade. Benzinga — Wells Fargo PT Raise
• Neutral Sentiment: Management change: CFO Brian Brown was appointed President while remaining CFO/Treasurer — continuity in finance leadership but adds an execution watchpoint. PR Newswire — Earnings Release
• Negative Sentiment: Short interest surged in February (~54.4M shares short, ~35.1% of float), raising the risk of volatility and squeezes despite the low days?to?cover.
• Negative Sentiment: Full?year profitability was pressured by heavy acquisition activity (profits fell on the year), which could weigh on margins even as Q4 shows recovery. Crain’s Detroit — Acquisition Impact

Analyst Upgrades and Downgrades

Several research firms have issued reports on RKT. BTIG Research reiterated a “buy” rating and set a $25.00 price objective on shares of Rocket Companies in a research note on Wednesday, November 19th. Jefferies Financial Group began coverage on shares of Rocket Companies in a research report on Friday, December 19th. They set a “buy” rating and a $25.00 target price for the company. Keefe, Bruyette & Woods lifted their price target on shares of Rocket Companies from $18.00 to $20.00 and gave the company a “market perform” rating in a report on Thursday, December 18th. Barclays set a $22.00 price objective on shares of Rocket Companies and gave the stock an “equal weight” rating in a research note on Tuesday, January 6th. Finally, Wall Street Zen lowered shares of Rocket Companies from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Five 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. According to data from MarketBeat.com, Rocket Companies has an average rating of “Hold” and a consensus price target of $20.64.

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.