Rocket Companies, Inc. (NYSE:RKT - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $13.19, but opened at $12.55. Rocket Companies shares last traded at $12.15, with a volume of 4,605,855 shares.
Analyst Ratings Changes
A number of brokerages have issued reports on RKT. Keefe, Bruyette & Woods increased their price objective on shares of Rocket Companies from $14.00 to $15.00 and gave the company a "market perform" rating in a report on Tuesday, April 8th. Barclays raised shares of Rocket Companies from an "underweight" rating to an "equal weight" rating and raised their target price for the company from $10.00 to $14.00 in a research note on Tuesday, April 8th. The Goldman Sachs Group decreased their price target 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. UBS Group upgraded Rocket Companies from a "sell" rating to a "neutral" rating and cut their price objective for the company from $12.50 to $11.50 in a research report on Friday, January 10th. Finally, Morgan Stanley decreased their target price on Rocket Companies from $16.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Thursday, December 19th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $14.25.
Read Our Latest Report on RKT
Rocket Companies Stock Performance
The firm has a market capitalization of $25.87 billion, a P/E ratio of -81.00 and a beta of 2.35. The company has a debt-to-equity ratio of 1.51, a current ratio of 15.47 and a quick ratio of 15.47. The firm has a 50-day moving average price of $13.53 and a two-hundred day moving average price of $13.87.
Rocket Companies Cuts Dividend
The business also recently announced a dividend, which was paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th were paid a $0.80 dividend. The ex-dividend date was Thursday, March 20th. Rocket Companies's dividend payout ratio is currently 801.25%.
Hedge Funds Weigh In On Rocket Companies
Large investors have recently made changes to their positions in the business. Cetera Investment Advisers raised its holdings in shares of Rocket Companies by 2.9% during the fourth quarter. Cetera Investment Advisers now owns 33,035 shares of the company's stock worth $372,000 after purchasing an additional 936 shares during the last quarter. Vident Advisory LLC increased its stake in shares of Rocket Companies by 3.6% during the fourth quarter. Vident Advisory LLC now owns 30,798 shares of the company's stock worth $347,000 after purchasing an additional 1,078 shares in the last quarter. Parallel Advisors LLC raised its position in shares of Rocket Companies by 302.2% during the 1st quarter. Parallel Advisors LLC now owns 2,956 shares of the company's stock worth $36,000 after purchasing an additional 2,221 shares during the last quarter. KBC Group NV lifted its stake 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 in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in Rocket Companies by 9.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 27,825 shares of the company's stock worth $313,000 after buying an additional 2,437 shares during the last quarter. 4.59% of the stock is owned by institutional investors and hedge funds.
Rocket Companies Company Profile
(
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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