Quantbot Technologies LP raised its holdings in Rocket Companies, Inc. (NYSE:RKT - Free Report) by 76.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 270,761 shares of the company's stock after acquiring an additional 117,728 shares during the quarter. Quantbot Technologies LP's holdings in Rocket Companies were worth $3,049,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. KBC Group NV boosted its position in Rocket Companies by 58.1% in the 4th quarter. KBC Group NV now owns 6,056 shares of the company's stock valued at $68,000 after buying an additional 2,226 shares during the period. SBI Securities Co. Ltd. bought a new position in Rocket Companies in the fourth quarter worth approximately $135,000. Daiwa Securities Group Inc. purchased a new position in Rocket Companies during the 4th quarter worth $136,000. Proficio Capital Partners LLC bought a new stake in Rocket Companies during the 4th quarter valued at $154,000. Finally, Lakeshore Financial Planning Inc. raised its position in Rocket Companies by 21.7% during 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 in the last quarter. 4.59% of the stock is currently owned by institutional investors.
Rocket Companies Stock Down 2.2 %
Shares of RKT traded down $0.31 during midday trading on Tuesday, hitting $13.46. 3,274,676 shares of the company's stock traded hands, compared to its average volume of 3,416,530. The company has a current ratio of 15.47, a quick ratio of 15.47 and a debt-to-equity ratio of 1.51. The stock has a market capitalization of $26.86 billion, a price-to-earnings ratio of -84.09 and a beta of 2.39. Rocket Companies, Inc. has a 1 year low of $10.06 and a 1 year high of $21.38. The firm's fifty day moving average is $13.20 and its 200-day moving average is $14.53.
Rocket Companies Cuts Dividend
The firm also recently declared a dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Thursday, March 20th. Rocket Companies's dividend payout ratio is presently 801.25%.
Analyst Ratings Changes
Several equities analysts have recently commented on RKT shares. JPMorgan Chase & Co. cut their price target 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. Keefe, Bruyette & Woods raised their target price on shares of Rocket Companies from $10.50 to $12.00 and gave the company an "underperform" rating in a research report on Monday, March 3rd. Wedbush restated a "neutral" rating and issued a $13.00 price target on shares of Rocket Companies in a report on Wednesday, March 5th. The Goldman Sachs Group dropped their price objective on shares of Rocket Companies from $16.00 to $14.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 7th. Finally, Morgan Stanley reduced their price objective on shares of Rocket Companies from $16.00 to $13.00 and set an "equal weight" rating for the company in a research note on Thursday, December 19th. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $13.83.
Read Our Latest Research Report on RKT
Rocket Companies Company Profile
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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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