Farringdon Capital Ltd. Takes $321,000 Position in Rocket Companies, Inc. (NYSE:RKT)

Farringdon Capital Ltd. bought a new position in Rocket Companies, Inc. (NYSE:RKT - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 28,526 shares of the company's stock, valued at approximately $321,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. AXQ Capital LP boosted its stake in Rocket Companies by 125.7% during the fourth quarter. AXQ Capital LP now owns 146,691 shares of the company's stock worth $1,652,000 after buying an additional 81,695 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Rocket Companies by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 12,520,074 shares of the company's stock valued at $140,976,000 after acquiring an additional 431,054 shares during the last quarter. Quantbot Technologies LP boosted its position in shares of Rocket Companies by 76.9% during the 4th quarter. Quantbot Technologies LP now owns 270,761 shares of the company's stock valued at $3,049,000 after acquiring an additional 117,728 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Rocket Companies by 11.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,163,243 shares of the company's stock valued at $13,098,000 after purchasing an additional 122,534 shares during the period. Finally, Wellington Management Group LLP increased its position in Rocket Companies by 174.5% during the fourth quarter. Wellington Management Group LLP now owns 4,705,177 shares of the company's stock worth $52,980,000 after purchasing an additional 2,990,837 shares during the last quarter. 4.59% of the stock is currently owned by institutional investors and hedge funds.

Rocket Companies Stock Up 6.7 %

Shares of RKT stock traded up $0.77 during trading hours on Tuesday, reaching $12.32. 9,272,447 shares of the stock were exchanged, compared to its average volume of 4,607,054. The company has a debt-to-equity ratio of 1.51, a current ratio of 15.47 and a quick ratio of 15.47. Rocket Companies, Inc. has a 12-month low of $10.06 and a 12-month high of $21.38. The firm has a market capitalization of $24.59 billion, a P/E ratio of -77.00 and a beta of 2.35. The business's fifty day moving average is $13.47 and its two-hundred day moving average is $13.60.

Rocket Companies Cuts Dividend

The company 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 (DPR) is currently 801.25%.

Analyst Ratings Changes

A number of analysts have recently issued reports on RKT shares. Keefe, Bruyette & Woods raised their price target on shares of Rocket Companies from $14.00 to $15.00 and gave the stock a "market perform" rating in a report on Tuesday, April 8th. Wedbush reaffirmed an "outperform" rating and issued a $13.00 price target on shares of Rocket Companies in a research note on Wednesday, April 16th. The Goldman Sachs Group reduced their price objective on shares of Rocket Companies from $16.00 to $14.00 and set a "neutral" rating on the stock in a report on Tuesday, January 7th. Barclays upgraded shares of Rocket Companies from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $10.00 to $14.00 in a research report on Tuesday, April 8th. Finally, UBS Group reduced their price target on shares of Rocket Companies from $14.00 to $13.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $14.38.

About Rocket Companies

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.