Cinctive Capital Management LP bought a new stake in Rocket Companies, Inc. (NYSE:RKT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 350,382 shares of the company's stock, valued at approximately $3,945,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its position in Rocket Companies by 7.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,040,709 shares of the company's stock worth $19,971,000 after acquiring an additional 72,308 shares during the last quarter. Cerity Partners LLC boosted its holdings in shares of Rocket Companies by 85.1% during the third quarter. Cerity Partners LLC now owns 31,190 shares of the company's stock worth $599,000 after purchasing an additional 14,340 shares during the last quarter. Townsquare Capital LLC purchased a new stake in shares of Rocket Companies in the third quarter valued at $238,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Rocket Companies by 2.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 283,437 shares of the company's stock valued at $5,439,000 after purchasing an additional 7,824 shares during the period. Finally, Verition Fund Management LLC increased its stake in Rocket Companies by 79.2% in the third quarter. Verition Fund Management LLC now owns 78,982 shares of the company's stock valued at $1,516,000 after purchasing an additional 34,895 shares during the last quarter. 4.59% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on RKT shares. JPMorgan Chase & Co. reduced their price objective on Rocket Companies from $14.00 to $10.50 and set an "underweight" rating on the stock in a research note on Tuesday, January 14th. UBS Group upgraded Rocket Companies from a "sell" rating to a "neutral" rating and lowered their price target for the company from $12.50 to $11.50 in a report on Friday, January 10th. Deutsche Bank Aktiengesellschaft upgraded Rocket Companies from a "hold" rating to a "buy" rating and set a $16.00 target price on the stock in a research note on Wednesday. Keefe, Bruyette & Woods upgraded shares of Rocket Companies from an "underperform" rating to a "market perform" rating and increased their price objective for the company from $12.00 to $14.00 in a report on Wednesday. Finally, Wedbush restated a "neutral" rating and issued a $13.00 target price on shares of Rocket Companies in a report on Wednesday, March 5th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $14.08.
Get Our Latest Analysis on RKT
Rocket Companies Stock Performance
Shares of RKT traded up $1.53 during mid-day trading on Friday, hitting $15.38. The company's stock had a trading volume of 36,549,894 shares, compared to its average volume of 4,114,274. The stock's 50-day moving average is $13.49 and its two-hundred day moving average is $14.23. The firm has a market capitalization of $30.70 billion, a PE ratio of -96.13 and a beta of 2.39. The company has a debt-to-equity ratio of 1.51, a quick ratio of 15.47 and a current ratio of 15.47. Rocket Companies, Inc. has a one year low of $10.06 and a one year high of $21.38.
Rocket Companies Cuts Dividend
The business also recently disclosed a dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Thursday, March 20th. Rocket Companies's dividend payout ratio is currently 801.25%.
Rocket Companies Company Profile
(
Free Report)
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.
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