Rocket Companies
RKT

$20.32

3.57%

Market Cap: $2.86B

About: Rocket Companies is a financial services company that was originally founded as Rock Financial in 1985 and is currently based in Detroit. Rocket Companies offers a wide array of services and products but is best known for its Rocket Mortgage business. The company's mortgage lending operations are split between its direct-to-consumer lending, which sees borrowers accessing the company's lending arm directly through either its mobile app or website, and its partner network where mortgage brokers and other firms use Rocket's origination process to offer loans to their customers. The company has rapidly gained market share in recent years and is now the largest mortgage originator in the U.S. as well as the servicer for more than 2 million loans.

Employees: 14,700

Financials Mortgage Bankers & Loan Correspondents

0

Funds holding %

of 6,710 funds

0

Analysts bullish %

of 12 analysts

Fund manager confidence

Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)

116% more call options, than puts

Call options by funds: $67.2M | Put options by funds: $31.1M

55% more first-time investments, than exits

New positions opened: 48 | Existing positions closed: 31

47% more repeat investments, than reductions

Existing positions increased: 94 | Existing positions reduced: 64

7% more funds holding

Funds holding: 235 [Q1] → 252 (+17) [Q2]

1.06% less ownership

Funds ownership: 70.14% [Q1] → 69.08% (-1.06%) [Q2]

5% less capital invested

Capital invested by funds: $1.4B [Q1] → $1.32B (-$74.8M) [Q2]

33% less funds holding in top 10

Funds holding in top 10: 3 [Q1] → 2 (-1) [Q2]

See Fund Rankings

Research analyst outlook

12 Wall Street Analysts provided 1 year price targets over the past 3 months

Low target

$10

51%

downside

Avg. target

$14.75

27%

downside

High target

$20

2%

downside

12 analyst ratings

0 positive

0%

6 neutral

50%

6 negative

50%

UBS Douglas Harter 69% 1-year accuracy 11 / 16 met price target	31%downside $14	Sell Maintained	16 Sept 2024
RBC Capital Daniel Perlin 70% 1-year accuracy 38 / 54 met price target	2%downside $20	Sector Perform Maintained	11 Sept 2024
Wedbush Jay McCanless 55% 1-year accuracy 38 / 69 met price target	11%downside $18	Neutral Maintained	11 Sept 2024
UBS Douglas Harter 69% 1-year accuracy 11 / 16 met price target	43%downside $11.50	Sell Maintained	5 Sept 2024
B of A Securities Mihir Bhatia 56% 1-year accuracy 5 / 9 met price target	31%downside $14	Underperform Maintained	29 Aug 2024

See Analyst Rankings

Financial journalist opinion

Based on 7 articles about RKT published over the past 30 days

3 Stocks to Watch as Call Option Activity Heats Up

Whenever investors think of how to get exposure to a stock's direction, they typically only think of buying or selling a stock. However, professionals tend to delve a bit deeper into their views through the use of stock options.

3 Stocks to Watch as Call Option Activity Heats Up

3 Key Reasons Why Rocket Companies Stock Will Rally Soon

Markets will always have a reason to keep the market going, and always come up with reasons as to why a stock might be falling, whether these reasons are valid or not. Today, investors need to cut out the noise as volatility starts to hit the S&P 500 and other baskets of stocks, especially the ones that carry the most potential tail risk for a new rally based on fundamental reasons as well as technical.

3 Key Reasons Why Rocket Companies Stock Will Rally Soon

Rocket Companies Leaders Unveil Long-term Growth Strategy at Inaugural Investor Day

DETROIT , Sept. 10, 2024 /PRNewswire/ -- Rocket Companies, Inc. (NYSE: RKT) ("Rocket Companies" or the "Company"), the Detroit-based fintech platform company including mortgage, real estate and other financial services businesses, will host its first Investor Day today at 9:00 a.m.

Rocket Companies Leaders Unveil Long-term Growth Strategy at Inaugural Investor Day

Mortgage Technology Veteran Dan Sogorka to Lead Rocket's Broker Business Into AI-Driven Revolution

Sogorka, a former Business Unit President at Black Knight and CEO of mortgage technology firms Sagent and Cloudvirga, named General Manager of Rocket Mortgage's unit serving mortgage brokers Click here to download high resolution headshot DETROIT , Sept. 3, 2024 /PRNewswire/ -- Rocket Companies (NYSE: RKT) today announced it has named Dan Sogorka as General Manager of Rocket Pro Third Party Origination (TPO), the mortgage broker business of Rocket Mortgage, effective September 3.

Mortgage Technology Veteran Dan Sogorka to Lead Rocket's Broker Business Into AI-Driven Revolution

Rocket Companies to Host Investor Day on Tuesday, September 10, 2024

DETROIT , Aug. 26, 2024 /PRNewswire/ -- Rocket Companies, Inc. (NYSE: RKT) ("Rocket Companies" or the "Company"), the Detroit-based fintech platform company including mortgage, real estate and other financial services businesses, today announced that the Company will host its first Investor Day on Tuesday, September 10, 2024 starting at 9:00 a.m. ET in Detroit, Michigan.

Rocket Companies to Host Investor Day on Tuesday, September 10, 2024

Rocket Mortgage's "Welcome Home RateBreak" Unlocks the Door to Lower Mortgage Payments and Thousands in Savings for Homebuyers

New temporary buydown option eases the transition into homeownership with Rocket Mortgage covering the cost of a lower interest rate for two years DETROIT , Aug. 26, 2024 /PRNewswire/ -- Rocket Mortgage, the nation's largest mortgage lender and a part of Rocket Companies (NYSE: RKT), today introduced "Welcome Home RateBreak," a lender-paid 2-1 temporary buydown program. Buyers can enjoy significant savings with a mortgage rate reduced by two percentage points in the first year, then one percentage point in the second year before returning to the note rate in the third year and until the mortgage is paid off.

Rocket Mortgage's "Welcome Home RateBreak" Unlocks the Door to Lower Mortgage Payments and Thousands in Savings for Homebuyers

Rocket Companies' insider buying surges amid analyst downgrades: Is it a buy?

An Insider at Rocket Companies is constantly buying shares even as analysts issue downgrades. Is there something he knows that the analysts don't?

Rocket Companies' insider buying surges amid analyst downgrades: Is it a buy?

Rocket Mortgage Announces "The Rocket Comedy Tour" in Partnership with Comedian Mike Young

The 25-city showcase will spotlight both household names and featured acts in premiere clubs across the country, including Improv venues in multiple stops DETROIT , Aug. 6, 2024 /PRNewswire/ -- Rocket Mortgage – the nation's largest retail mortgage lender and part of Rocket Companies (NYSE: RKT) – today announced the launch of the Rocket Comedy Tour in partnership with comedian, writer and director Mike Young. The 25-stop nationwide tour is set to bring headlining acts alongside Young to intimate theaters across the country, kicking off in Phoenix on October 11, 2024.

Rocket Mortgage Announces "The Rocket Comedy Tour" in Partnership with Comedian Mike Young

Rocket Companies, Inc. (RKT) Q2 2024 Earnings Call Transcript

Rocket Companies, Inc. (NYSE:RKT ) Q2 2024 Earnings Conference Call August 1, 2024 4:30 PM ET Company Participants Sharon Ng - Vice President of Investor Relations Varun Krishna - Chief Executive Officer Brian Brown - Chief Financial Officer Conference Call Participants Mark DeVries - Deutsche Bank Ryan McKeveny - Zelman & Associates Jeff Adelson - Morgan Stanley Derek Sommers - Jefferies Brad Capuzzi - Piper Sandler Doug Harter - UBS Rick Shane - JPMorgan Operator Thank you for standing by and welcome to the Rocket Companies Second Quarter 2024 Earnings Conference Call. All lines have been placed on mute to prevent any background noise.

Rocket Companies, Inc. (RKT) Q2 2024 Earnings Call Transcript

Zacks Investment Research

Compared to Estimates, Rocket Companies (RKT) Q2 Earnings: A Look at Key Metrics

Although the revenue and EPS for Rocket Companies (RKT) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Compared to Estimates, Rocket Companies (RKT) Q2 Earnings: A Look at Key Metrics

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