Rocket Companies Sees Unusually High Options Volume (NYSE:RKT)

Rocket Companies, Inc. (NYSE:RKT - Get Free Report) was the recipient of unusually large options trading on Wednesday. Stock traders bought 64,478 call options on the company. This represents an increase of approximately 348% compared to the typical daily volume of 14,379 call options.

Rocket Companies Stock Performance

Shares of NYSE:RKT traded up $1.53 during trading on Friday, hitting $15.38. 36,549,894 shares of the stock were exchanged, compared to its average volume of 4,106,403. The company's fifty day simple moving average is $13.49 and its 200-day simple moving average is $14.23. 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 company has a market capitalization of $30.70 billion, a price-to-earnings ratio of -96.13 and a beta of 2.39. Rocket Companies has a 1-year low of $10.06 and a 1-year high of $21.38.

Rocket Companies Cuts Dividend

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on RKT shares. Morgan Stanley reduced their price objective on shares of Rocket Companies from $16.00 to $13.00 and set an "equal weight" rating for the company in a research note on Thursday, December 19th. Deutsche Bank Aktiengesellschaft raised Rocket Companies from a "hold" rating to a "buy" rating and set a $16.00 price target for the company in a research report on Wednesday. Royal Bank of Canada reissued a "sector perform" rating and set a $18.00 price objective on shares of Rocket Companies in a report on Tuesday. UBS Group upgraded Rocket Companies from a "sell" rating to a "neutral" rating and reduced their target price for the stock from $12.50 to $11.50 in a report on Friday, January 10th. Finally, Keefe, Bruyette & Woods upgraded Rocket Companies from an "underperform" rating to a "market perform" rating and increased their price target for the company from $12.00 to $14.00 in a report on Wednesday. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $14.08.

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Institutional Trading of Rocket Companies

Institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP boosted its holdings in Rocket Companies by 174.5% during the fourth quarter. Wellington Management Group LLP now owns 4,705,177 shares of the company's stock valued at $52,980,000 after purchasing an additional 2,990,837 shares in the last quarter. Boston Partners lifted its position in shares of Rocket Companies by 29.8% during the 4th quarter. Boston Partners now owns 12,313,780 shares of the company's stock worth $138,673,000 after buying an additional 2,829,292 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 valued at $91,455,000 after buying an additional 2,804,090 shares in the last quarter. State Street Corp grew its position in Rocket Companies by 44.7% in the third quarter. State Street Corp now owns 4,108,189 shares of the company's stock valued at $78,836,000 after acquiring an additional 1,269,795 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in Rocket Companies during the fourth quarter worth $14,113,000. 4.59% of the stock is currently owned by institutional investors and hedge funds.

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.