Rocket Companies (NYSE:RKT) Stock Price Down 5.3% - Time to Sell?

Rocket Companies, Inc. (NYSE:RKT - Get Free Report) shares dropped 5.3% during mid-day trading on Tuesday . The stock traded as low as $14.23 and last traded at $13.89. Approximately 1,170,047 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 4,184,825 shares. The stock had previously closed at $14.66.

Analysts Set New Price Targets

RKT has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft raised shares of Rocket Companies from a "hold" rating to a "buy" rating and set a $16.00 price target on the stock in a report on Wednesday, April 2nd. The Goldman Sachs Group cut their price target 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. UBS Group upgraded Rocket Companies from a "sell" rating to a "neutral" rating and lowered their price target for the stock from $12.50 to $11.50 in a research report on Friday, January 10th. Keefe, Bruyette & Woods boosted their price objective on Rocket Companies from $14.00 to $15.00 and gave the company a "market perform" rating in a research report on Tuesday, April 8th. Finally, Barclays upgraded Rocket Companies from an "underweight" rating to an "equal weight" rating and increased their target price for the company from $10.00 to $14.00 in a research report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $14.25.

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Rocket Companies Stock Performance

The company has a market cap of $23.67 billion, a price-to-earnings ratio of -74.12 and a beta of 2.35. The firm's 50 day simple moving average is $13.53 and its 200-day simple moving average is $13.90. The company has a debt-to-equity ratio of 1.51, a quick ratio of 15.47 and a current ratio of 15.47.

Rocket Companies Cuts Dividend

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of RKT. Cetera Investment Advisers increased its position in shares of Rocket Companies by 2.9% during the 4th 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 boosted its stake in 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 buying an additional 1,078 shares during the period. Parallel Advisors LLC increased its position in shares of Rocket Companies by 302.2% during the first quarter. Parallel Advisors LLC now owns 2,956 shares of the company's stock valued at $36,000 after acquiring an additional 2,221 shares during the last quarter. KBC Group NV raised its stake in shares of 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 acquiring an additional 2,226 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of 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 acquiring an additional 2,437 shares during the last quarter. 4.59% of the stock is 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.