Eurizon Capital SGR S.p.A. Invests $1.18 Million in Rocket Companies, Inc. $RKT

Eurizon Capital SGR S.p.A. purchased a new position in shares of Rocket Companies, Inc. (NYSE:RKT) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 61,121 shares of the company’s stock, valued at approximately $1,183,000.

A number of other hedge funds also recently modified their holdings of RKT. Pinnacle Bancorp Inc. raised its position in shares of Rocket Companies by 369.7% during the fourth 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 bought a new position in shares of Rocket Companies during the fourth quarter worth about $30,000. Smithfield Trust Co bought a new position in shares of Rocket Companies during the fourth quarter worth about $32,000. Key Financial Inc bought a new position in shares of Rocket Companies during the fourth quarter worth about $32,000. Finally, Sound Income Strategies LLC grew its holdings in shares of Rocket Companies by 354.8% during the fourth quarter. Sound Income Strategies LLC now owns 1,974 shares of the company’s stock worth $38,000 after buying an additional 1,540 shares in the last quarter. Institutional investors and hedge funds own 4.59% of the company’s stock.

Rocket Companies Stock Down 0.8%

NYSE:RKT opened at $14.07 on Wednesday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 4.37 and a current ratio of 4.37. The stock has a 50-day simple moving average of $14.60 and a 200 day simple moving average of $17.35. The company has a market cap of $39.81 billion, a PE ratio of 281.42 and a beta of 2.19. Rocket Companies, Inc. has a 52-week low of $12.31 and a 52-week high of $24.36.

Rocket Companies (NYSE:RKT) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.03. The firm had revenue of $2.82 billion during the quarter, compared to the consensus estimate 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 was up 167.1% compared to the same quarter last year. During the same period last year, the company earned $0.04 earnings per share. On average, sell-side analysts expect that Rocket Companies, Inc. will post 0.65 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Keefe, Bruyette & Woods decreased their price objective on Rocket Companies from $22.00 to $21.00 and set an “outperform” rating for the company in a report on Tuesday, May 12th. Compass Point assumed coverage on Rocket Companies in a report on Tuesday, March 10th. They set a “buy” rating and a $21.00 price objective for the company. JPMorgan Chase & Co. decreased their price objective on Rocket Companies from $24.00 to $16.50 and set a “neutral” rating for the company in a report on Thursday, April 9th. Barclays upgraded Rocket Companies from an “equal weight” rating to an “overweight” rating and decreased their price objective for the stock from $22.00 to $19.00 in a report on Monday, April 6th. Finally, Zacks Research upgraded Rocket Companies from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 12th. Nine investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, Rocket Companies has an average rating of “Moderate Buy” and a consensus target price of $20.93.

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.