Rocket Companies, Inc. (NYSE:RKT - Get Free Report) saw an uptick in trading volume on Tuesday . 4,585,852 shares were traded during trading, an increase of 24% from the previous session's volume of 3,710,306 shares.The stock last traded at $12.20 and had previously closed at $12.07.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on RKT shares. The Goldman Sachs Group cut their target price 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 raised shares of Rocket Companies from a "sell" rating to a "neutral" rating and reduced their price objective for the company from $12.50 to $11.50 in a research note on Friday, January 10th. Deutsche Bank Aktiengesellschaft raised shares of Rocket Companies from a "hold" rating to a "buy" rating and set a $16.00 target price for the company in a research note on Wednesday. Keefe, Bruyette & Woods raised Rocket Companies from an "underperform" rating to a "market perform" rating and increased their price target for the stock from $12.00 to $14.00 in a research note on Wednesday. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $18.00 price objective on shares of Rocket Companies in a report on Tuesday. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $14.08.
Get Our Latest Analysis on RKT
Rocket Companies Stock Up 11.1 %
The firm has a market capitalization of $30.70 billion, a PE ratio of -96.13 and a beta of 2.39. 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 firm has a 50-day moving average of $13.49 and a two-hundred day moving average of $14.23.
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 issued a $0.80 dividend. The ex-dividend date of this dividend was Thursday, March 20th. Rocket Companies's dividend payout ratio (DPR) is 801.25%.
Institutional Trading of Rocket Companies
Institutional investors have recently modified their holdings of the company. AXQ Capital LP raised its holdings in Rocket Companies by 125.7% in the fourth quarter. AXQ Capital LP now owns 146,691 shares of the company's stock valued at $1,652,000 after buying an additional 81,695 shares during the period. Quantbot Technologies LP increased its position in shares of Rocket Companies by 76.9% in the fourth quarter. Quantbot Technologies LP now owns 270,761 shares of the company's stock worth $3,049,000 after acquiring an additional 117,728 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of Rocket Companies by 131.7% in the 4th quarter. Jones Financial Companies Lllp now owns 36,427 shares of the company's stock valued at $410,000 after acquiring an additional 20,706 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Rocket Companies by 11.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,163,243 shares of the company's stock valued at $13,098,000 after acquiring an additional 122,534 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in Rocket Companies during the 3rd quarter worth $1,486,000. Hedge funds and other institutional investors own 4.59% of the company's stock.
About Rocket Companies
(
Get 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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