Rocket Companies, Inc. (NYSE:RKT - Get Free Report)'s stock price gapped down prior to trading on Monday . The stock had previously closed at $15.77, but opened at $13.74. Rocket Companies shares last traded at $13.72, with a volume of 9,826,182 shares traded.
Wall Street Analysts Forecast Growth
RKT has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut their price objective on Rocket Companies from $14.00 to $10.50 and set an "underweight" rating on the stock in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods upped their price target on Rocket Companies from $10.50 to $12.00 and gave the stock an "underperform" rating in a report on Monday, March 3rd. Piper Sandler decreased their price objective on Rocket Companies from $17.00 to $16.00 and set a "neutral" rating for the company in a research note on Thursday, November 14th. Wedbush restated a "neutral" rating and set a $13.00 target price on shares of Rocket Companies in a research note on Wednesday, March 5th. Finally, Bank of America raised their target price on shares of Rocket Companies from $14.00 to $15.00 and gave the company an "underperform" rating in a report on Thursday, November 14th. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $13.83.
Get Our Latest Analysis on RKT
Rocket Companies Stock Performance
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's fifty day moving average price is $12.49 and its 200-day moving average price is $14.86. The firm has a market cap of $28.52 billion, a price-to-earnings ratio of -89.28 and a beta of 2.39.
Rocket Companies Cuts Dividend
The business also recently disclosed a dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th will be paid a $0.80 dividend. The ex-dividend date is Thursday, March 20th. Rocket Companies's dividend payout ratio is presently 801.25%.
Institutional Trading of Rocket Companies
A number of hedge funds and other institutional investors have recently made changes to their positions in RKT. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Rocket Companies by 16.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 330,293 shares of the company's stock valued at $3,719,000 after purchasing an additional 46,856 shares during the period. Voloridge Investment Management LLC lifted its stake in Rocket Companies by 37.3% in the fourth quarter. Voloridge Investment Management LLC now owns 2,187,240 shares of the company's stock valued at $24,628,000 after buying an additional 593,708 shares during the last quarter. Vident Advisory LLC boosted its holdings in shares of Rocket Companies by 3.6% in the fourth quarter. Vident Advisory LLC now owns 30,798 shares of the company's stock valued at $347,000 after acquiring an additional 1,078 shares during the period. Two Sigma Investments LP grew its position in shares of Rocket Companies by 6.5% during the fourth quarter. Two Sigma Investments LP now owns 205,273 shares of the company's stock worth $2,311,000 after acquiring an additional 12,508 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of Rocket Companies in the 4th quarter valued at $14,113,000. Institutional investors and hedge funds own 4.59% of the company's stock.
About Rocket Companies
(
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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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