Davis Selected Advisers Reduces Position in Rocket Companies, Inc. $RKT

Davis Selected Advisers decreased its holdings in Rocket Companies, Inc. (NYSE:RKT) by 0.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,132,678 shares of the company’s stock after selling 6,611 shares during the period. Davis Selected Advisers owned approximately 0.16% of Rocket Companies worth $44,421,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Nuveen LLC acquired a new stake in shares of Rocket Companies in the first quarter valued at approximately $96,470,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Rocket Companies in the 2nd quarter worth $44,102,000. Boston Partners increased its stake in shares of Rocket Companies by 11.3% in the 1st quarter. Boston Partners now owns 13,704,339 shares of the company’s stock worth $165,421,000 after acquiring an additional 1,390,559 shares during the last quarter. Azora Capital LP purchased a new position in shares of Rocket Companies during the 1st quarter worth $16,078,000. Finally, Kodai Capital Management LP acquired a new position in shares of Rocket Companies during the 1st quarter valued at about $8,457,000. 4.59% of the stock is currently owned by institutional investors and hedge funds.

Rocket Companies Price Performance

RKT stock opened at $17.15 on Friday. The business’s fifty day moving average price is $18.23 and its 200 day moving average price is $15.92. Rocket Companies, Inc. has a 12-month low of $10.06 and a 12-month high of $22.56. The company has a market capitalization of $36.09 billion, a PE ratio of 214.36 and a beta of 2.21. The company has a current ratio of 19.68, a quick ratio of 18.74 and a debt-to-equity ratio of 2.16.

Rocket Companies (NYSE:RKT) last issued its quarterly earnings results on Thursday, October 30th. The company reported $0.07 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.07. Rocket Companies had a negative net margin of 1.77% and a positive return on equity of 2.83%. The company had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the prior year, the firm earned $0.08 earnings per share. The business’s revenue for the quarter was up 148.1% compared to the same quarter last year. Rocket Companies has set its Q4 2025 guidance at EPS. On average, sell-side analysts anticipate that Rocket Companies, Inc. will post 0.15 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Morgan Stanley lifted their target price on shares of Rocket Companies from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Monday, September 29th. Bank of America raised shares of Rocket Companies from a “neutral” rating to a “buy” rating and lifted their price target for the company from $21.00 to $24.00 in a research report on Wednesday, September 10th. Wells Fargo & Company upped their price objective on Rocket Companies from $15.00 to $17.00 and gave the company an “equal weight” rating in a report on Wednesday, November 5th. Weiss Ratings reissued a “sell (d)” rating on shares of Rocket Companies in a research note on Wednesday, October 8th. Finally, UBS Group set a $17.00 target price on Rocket Companies and gave the company a “neutral” rating in a research report on Friday, October 10th. Four analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $18.18.

Rocket Companies Profile

Rocket Companies, Inc, a fintech holding company, provides mortgage lending, title and settlement services, and other financial technology services in the United States and Canada. It operates through two segments, Direct to Consumer and Partner Network. The company’s solutions include Rocket Mortgage, a mortgage lender; Amrock that provides title insurance, property valuation, and settlement services; Rocket Homes, a home search platform and real estate agent referral network, which offers technology-enabled services to support the home buying and selling experience; and Rocket Loans, an online-based personal loans business.