Polymer Capital Management US LLC Invests $229,000 in Rocket Companies, Inc. (NYSE:RKT)

Polymer Capital Management US LLC purchased a new position in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 20,312 shares of the company's stock, valued at approximately $229,000.

Several other institutional investors and hedge funds have also recently modified their holdings of RKT. KBC Group NV increased its stake in 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 purchasing an additional 2,226 shares during the period. Lakeshore Financial Planning Inc. boosted its position in shares of Rocket Companies by 21.7% in the 4th quarter. Lakeshore Financial Planning Inc. now owns 13,996 shares of the company's stock valued at $158,000 after purchasing an additional 2,500 shares during the period. Truist Financial Corp grew its position in shares of Rocket Companies by 12.6% during the fourth quarter. Truist Financial Corp now owns 23,373 shares of the company's stock worth $263,000 after acquiring an additional 2,621 shares during the last quarter. Virtu Financial LLC increased its stake in Rocket Companies by 22.1% in the third quarter. Virtu Financial LLC now owns 16,135 shares of the company's stock valued at $310,000 after purchasing an additional 2,925 shares during the period. Finally, Swiss National Bank raised its stake in Rocket Companies by 1.3% during the 4th quarter. Swiss National Bank now owns 248,900 shares of the company's stock valued at $2,803,000 after acquiring an additional 3,200 shares during the last quarter. Institutional investors and hedge funds own 4.59% of the company's stock.

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Rocket Companies Stock Up 3.5 %

RKT traded up $0.42 during trading hours on Monday, hitting $12.32. 2,865,002 shares of the company's stock were exchanged, compared to its average volume of 4,461,688. The stock's 50-day moving average is $13.53 and its two-hundred day moving average is $13.87. Rocket Companies, Inc. has a 1-year low of $10.06 and a 1-year high of $21.38. The company has a quick ratio of 15.47, a current ratio of 15.47 and a debt-to-equity ratio of 1.51. The stock has a market cap of $24.59 billion, a price-to-earnings ratio of -77.00 and a beta of 2.35.

Rocket Companies Cuts Dividend

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

Wall Street Analysts Forecast Growth

RKT has been the subject of several research analyst reports. Morgan Stanley cut their price objective on Rocket Companies from $16.00 to $13.00 and set an "equal weight" rating for the company in a research report on Thursday, December 19th. 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 research report on Wednesday, April 2nd. The Goldman Sachs Group decreased their price objective on Rocket Companies from $16.00 to $14.00 and set a "neutral" rating on the stock in a report on Tuesday, January 7th. Wedbush reiterated a "neutral" rating and issued a $13.00 price target on shares of Rocket Companies in a report on Wednesday, March 5th. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $18.00 target price on shares of Rocket Companies in a report on Tuesday, April 1st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Rocket Companies has a consensus rating of "Hold" and an average price target of $14.25.

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.