Rocket Companies (NYSE:RKT) Shares Down 2.6% - What's Next?

Shares of Rocket Companies, Inc. (NYSE:RKT - Get Free Report) fell 2.6% on Monday . The stock traded as low as $13.71 and last traded at $13.74. 513,676 shares changed hands during trading, a decline of 85% from the average session volume of 3,396,254 shares. The stock had previously closed at $14.11.

Wall Street Analysts Forecast Growth

Several brokerages have commented on RKT. The Goldman Sachs Group lowered their target price on Rocket Companies from $16.00 to $14.00 and set a "neutral" rating for the company in a research note on Tuesday, January 7th. Morgan Stanley cut their price target on shares of Rocket Companies from $16.00 to $13.00 and set an "equal weight" rating on the stock in a report on Thursday, December 19th. JPMorgan Chase & Co. cut their target price on Rocket Companies from $14.00 to $10.50 and set an "underweight" rating on the stock in a report on Tuesday, January 14th. Wedbush reissued a "neutral" rating and issued a $13.00 price target on shares of Rocket Companies in a research note on Wednesday, March 5th. Finally, UBS Group raised Rocket Companies from a "sell" rating to a "neutral" rating and cut their price objective for the stock from $12.50 to $11.50 in a research note on Friday, January 10th. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $13.83.

Rocket Companies Stock Performance

The company has a market cap of $25.82 billion, a PE ratio of -80.84 and a beta of 2.39. The company's fifty day moving average price is $13.31 and its 200 day moving average price is $14.47. The company has a debt-to-equity ratio of 1.51, a current ratio of 15.47 and a quick ratio of 15.47.

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Rocket Companies Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th will be issued a dividend of $0.80 per share. The ex-dividend date is Thursday, March 20th. Rocket Companies's dividend payout ratio (DPR) is presently 801.25%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RKT. Charles Schwab Investment Management Inc. lifted its holdings in Rocket Companies by 7.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,040,709 shares of the company's stock worth $19,971,000 after purchasing an additional 72,308 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of Rocket Companies by 85.1% in the third quarter. Cerity Partners LLC now owns 31,190 shares of the company's stock worth $599,000 after buying an additional 14,340 shares in the last quarter. Kingsview Wealth Management LLC bought a new position in shares of Rocket Companies in the third quarter valued at approximately $235,000. Quantbot Technologies LP grew its stake in Rocket Companies by 3.7% during the third quarter. Quantbot Technologies LP now owns 153,033 shares of the company's stock valued at $2,937,000 after acquiring an additional 5,438 shares in the last quarter. Finally, Townsquare Capital LLC bought a new stake in Rocket Companies during the 3rd quarter worth approximately $238,000. 4.59% of the stock is currently owned by hedge funds and other institutional investors.

About Rocket Companies

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.