Triasima Portfolio Management inc. Boosts Position in Rocket Companies, Inc. $RKT

Triasima Portfolio Management inc. increased its stake in Rocket Companies, Inc. (NYSE:RKT) by 27.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 200,680 shares of the company’s stock after buying an additional 43,410 shares during the period. Triasima Portfolio Management inc.’s holdings in Rocket Companies were worth $3,885,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. ORG Partners LLC increased its stake in Rocket Companies by 22.3% in the 4th quarter. ORG Partners LLC now owns 2,857 shares of the company’s stock worth $55,000 after buying an additional 520 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Rocket Companies by 3.5% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 18,817 shares of the company’s stock worth $365,000 after acquiring an additional 636 shares in the last quarter. Miller Wealth Advisors LLC grew its holdings in Rocket Companies by 65.0% during the 3rd quarter. Miller Wealth Advisors LLC now owns 1,650 shares of the company’s stock worth $32,000 after acquiring an additional 650 shares in the last quarter. Composition Wealth LLC grew its holdings in Rocket Companies by 2.7% during the 4th quarter. Composition Wealth LLC now owns 25,323 shares of the company’s stock worth $490,000 after acquiring an additional 668 shares in the last quarter. Finally, Parallel Advisors LLC grew its holdings in Rocket Companies by 26.1% during the 3rd quarter. Parallel Advisors LLC now owns 3,267 shares of the company’s stock worth $63,000 after acquiring an additional 677 shares in the last quarter. Hedge funds and other institutional investors own 4.59% of the company’s stock.

Analyst Upgrades and Downgrades

RKT has been the topic of several recent research reports. Barclays upgraded shares of Rocket Companies from an “equal weight” rating to an “overweight” rating and dropped their target price for the stock from $22.00 to $19.00 in a report on Monday, April 6th. Stephens initiated coverage on shares of Rocket Companies in a report on Thursday, April 23rd. They set an “overweight” rating and a $22.50 target price on the stock. Keefe, Bruyette & Woods upgraded shares of Rocket Companies from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $20.00 to $22.00 in a report on Monday, March 16th. JPMorgan Chase & Co. dropped their target price on shares of Rocket Companies from $24.00 to $16.50 and set a “neutral” rating on the stock in a report on Thursday, April 9th. Finally, 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 target price on the stock. Nine analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.40.

Rocket Companies Stock Up 0.1%

NYSE:RKT opened at $14.65 on Monday. Rocket Companies, Inc. has a fifty-two week low of $11.08 and a fifty-two week high of $24.36. The stock has a market capitalization of $41.31 billion, a P/E ratio of -112.70 and a beta of 2.23. The company has a debt-to-equity ratio of 1.07, a quick ratio of 70.90 and a current ratio of 70.90. The company’s 50-day simple moving average is $15.36 and its 200-day simple moving average is $17.75.

Rocket Companies (NYSE:RKT) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. Rocket Companies had a negative net margin of 1.02% and a positive return on equity of 3.04%. The business had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same period last year, the business earned $0.04 EPS. The company’s revenue was up 52.2% compared to the same quarter last year. On average, equities analysts anticipate that Rocket Companies, Inc. will post 0.65 earnings per share for the current fiscal year.

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.