Rocket Companies (NYSE:RKT) Shares Gap Down - Should You Sell?

Rocket Companies, Inc. (NYSE:RKT - Get Free Report)'s stock price gapped down before the market opened on Monday . The stock had previously closed at $13.03, but opened at $12.24. Rocket Companies shares last traded at $12.04, with a volume of 5,696,426 shares trading hands.

Analyst Ratings Changes

RKT has been the topic of a number of recent research reports. Wedbush reissued a "neutral" rating and set a $13.00 price objective on shares of Rocket Companies in a report on Wednesday, March 5th. 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. The Goldman Sachs Group cut their price target on shares of Rocket Companies from $16.00 to $14.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft upgraded Rocket Companies from a "hold" rating to a "buy" rating and set a $16.00 price objective on the stock in a research report on Wednesday. Finally, Keefe, Bruyette & Woods upgraded Rocket Companies from an "underperform" rating to a "market perform" rating and upped their target price for the stock from $12.00 to $14.00 in a research note on Wednesday. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $14.08.

Rocket Companies Stock Performance

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 company has a fifty day moving average price of $13.42 and a 200 day moving average price of $14.26. The stock has a market cap of $30.70 billion, a PE ratio of -96.13 and a beta of 2.39.

Rocket Companies Cuts Dividend

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

Institutional Trading of Rocket Companies

A number of institutional investors have recently modified their holdings of RKT. Itau Unibanco Holding S.A. purchased a new stake in Rocket Companies in the 4th quarter worth approximately $47,000. KBC Group NV raised its stake in Rocket Companies by 58.1% in the fourth quarter. KBC Group NV now owns 6,056 shares of the company's stock worth $68,000 after buying an additional 2,226 shares in the last quarter. Sterling Capital Management LLC boosted its position in Rocket Companies by 57.2% during the 4th quarter. Sterling Capital Management LLC now owns 8,295 shares of the company's stock valued at $93,000 after acquiring an additional 3,019 shares in the last quarter. Caisse Des Depots ET Consignations purchased a new position in shares of Rocket Companies during the 4th quarter worth approximately $99,000. Finally, Garner Asset Management Corp purchased a new position in shares of Rocket Companies in the 4th quarter valued at approximately $118,000. 4.59% of the stock is currently owned by hedge funds and other institutional investors.

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.