Renaissance Technologies LLC Sells 1,078,568 Shares of Rocket Companies, Inc. (NYSE:RKT)

Renaissance Technologies LLC lowered its stake in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) by 39.1% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,679,036 shares of the company's stock after selling 1,078,568 shares during the period. Renaissance Technologies LLC owned approximately 0.08% of Rocket Companies worth $18,906,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. State Street Corp raised its holdings in Rocket Companies by 44.7% in the 3rd quarter. State Street Corp now owns 4,108,189 shares of the company's stock valued at $78,836,000 after acquiring an additional 1,269,795 shares in the last quarter. Barclays PLC raised its stake in shares of Rocket Companies by 136.2% in the third quarter. Barclays PLC now owns 238,323 shares of the company's stock valued at $4,573,000 after purchasing an additional 137,441 shares in the last quarter. Geode Capital Management LLC lifted its position in Rocket Companies by 0.6% in the third quarter. Geode Capital Management LLC now owns 2,043,975 shares of the company's stock worth $39,235,000 after purchasing an additional 12,735 shares during the period. Virtu Financial LLC boosted its stake in Rocket Companies by 22.1% during the third quarter. Virtu Financial LLC now owns 16,135 shares of the company's stock worth $310,000 after buying an additional 2,925 shares in the last quarter. Finally, Tidal Investments LLC increased its holdings in Rocket Companies by 804.3% in the 3rd quarter. Tidal Investments LLC now owns 315,764 shares of the company's stock valued at $6,060,000 after buying an additional 280,847 shares during the period. Institutional investors own 4.59% of the company's stock.

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Rocket Companies Price Performance

Shares of Rocket Companies stock traded down $0.34 during trading on Tuesday, reaching $12.52. The company's stock had a trading volume of 7,032,111 shares, compared to its average volume of 4,509,772. Rocket Companies, Inc. has a one year low of $10.06 and a one year high of $21.38. The stock has a market capitalization of $24.98 billion, a P/E ratio of -78.22 and a beta of 2.35. 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 50-day moving average price of $13.52 and a two-hundred day moving average price of $13.81.

Rocket Companies Cuts Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on RKT shares. Wedbush reaffirmed a "neutral" rating and set a $13.00 price objective on shares of Rocket Companies in a report on Wednesday, March 5th. Barclays upgraded shares of Rocket Companies from an "underweight" rating to an "equal weight" rating and raised their price target for the stock from $10.00 to $14.00 in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods upped their price objective on Rocket Companies from $14.00 to $15.00 and gave the company a "market perform" rating in a research note on Tuesday, April 8th. JPMorgan Chase & Co. cut their target price on Rocket Companies from $14.00 to $10.50 and set an "underweight" rating for the company in a research report on Tuesday, January 14th. Finally, The Goldman Sachs Group decreased their price target on Rocket Companies from $16.00 to $14.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price 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.