Rocket Companies (NYSE:RKT) Shares Down 2.6% - Time to Sell?

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

Analysts Set New Price Targets

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

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Rocket Companies Price Performance

The company has a debt-to-equity ratio of 1.51, a quick ratio of 15.47 and a current ratio of 15.47. The stock has a market capitalization of $26.00 billion, a PE ratio of -81.41 and a beta of 2.39. The company's fifty day simple moving average is $13.33 and its two-hundred day simple moving average is $14.39.

Rocket Companies Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th will be given a $0.80 dividend. The ex-dividend date of this dividend is Thursday, March 20th. Rocket Companies's dividend payout ratio is currently 801.25%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Rocket Companies by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 12,520,074 shares of the company's stock valued at $140,976,000 after buying an additional 431,054 shares during the period. Boston Partners grew its position in shares of Rocket Companies by 29.8% in the fourth quarter. Boston Partners now owns 12,313,780 shares of the company's stock valued at $138,673,000 after purchasing an additional 2,829,292 shares during the period. JPMorgan Chase & Co. lifted its position in Rocket Companies by 2.2% during the fourth quarter. JPMorgan Chase & Co. now owns 8,161,979 shares of the company's stock worth $91,904,000 after buying an additional 174,978 shares during the period. Nuveen Asset Management LLC boosted its stake in Rocket Companies by 52.7% in the 4th quarter. Nuveen Asset Management LLC now owns 8,122,148 shares of the company's stock worth $91,455,000 after buying an additional 2,804,090 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in Rocket Companies by 174.5% in the 4th quarter. Wellington Management Group LLP now owns 4,705,177 shares of the company's stock valued at $52,980,000 after buying an additional 2,990,837 shares during the period. 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.