ExodusPoint Capital Management LP Cuts Position in Rocket Companies, Inc. (NYSE:RKT)

ExodusPoint Capital Management LP decreased its stake in Rocket Companies, Inc. (NYSE:RKT - Free Report) by 72.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,417 shares of the company's stock after selling 34,580 shares during the quarter. ExodusPoint Capital Management LP's holdings in Rocket Companies were worth $151,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. KBC Group NV increased its position in shares of Rocket Companies by 58.1% during the fourth quarter. KBC Group NV now owns 6,056 shares of the company's stock worth $68,000 after acquiring an additional 2,226 shares during the period. Caisse Des Depots ET Consignations bought a new position in shares of Rocket Companies during the 4th quarter worth $99,000. Huntington National Bank grew its position in shares of Rocket Companies by 548,750.0% during the 4th quarter. Huntington National Bank now owns 10,977 shares of the company's stock worth $124,000 after buying an additional 10,975 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Rocket Companies during the fourth quarter valued at $135,000. Finally, Daiwa Securities Group Inc. bought a new stake in shares of Rocket Companies in the fourth quarter valued at about $136,000. Institutional investors own 4.59% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on RKT. Barclays upgraded shares of Rocket Companies from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $10.00 to $14.00 in a research note on Tuesday, April 8th. The Goldman Sachs Group reduced their price objective on shares of Rocket Companies from $16.00 to $14.00 and set a "neutral" rating for the company in a research note on Tuesday, January 7th. UBS Group lowered their target price on shares of Rocket Companies from $14.00 to $13.00 and set a "neutral" rating for the company in a research note on Wednesday. Deutsche Bank Aktiengesellschaft upgraded Rocket Companies from a "hold" rating to a "buy" rating and set a $16.00 price objective for the company in a report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods boosted their target price on Rocket Companies from $14.00 to $15.00 and gave the stock a "market perform" rating in a research note on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $14.38.

Rocket Companies Trading Down 1.4 %

NYSE RKT traded down $0.17 on Friday, reaching $12.08. 6,654,375 shares of the company were exchanged, compared to its average volume of 4,543,613. Rocket Companies, Inc. has a fifty-two week low of $10.06 and a fifty-two week high of $21.38. The stock has a market capitalization of $24.11 billion, a P/E ratio of -75.49 and a beta of 2.35. The business's fifty day moving average price is $13.50 and its 200 day moving average price is $13.76. The company has a current ratio of 15.47, a quick ratio of 15.47 and a debt-to-equity ratio of 1.51.

Rocket Companies Cuts Dividend

The company also recently declared a dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th were issued a dividend of $0.80 per share. The ex-dividend date was Thursday, March 20th. Rocket Companies's dividend payout ratio is currently 801.25%.

Rocket Companies Company 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.