Price T Rowe Associates Inc. MD Increases Holdings in Rocket Companies, Inc. (NYSE:RKT)

Price T Rowe Associates Inc. MD increased its position in shares of Rocket Companies, Inc. (NYSE:RKT) by 8.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 81,613 shares of the company’s stock after purchasing an additional 6,622 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Rocket Companies were worth $919,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Dark Forest Capital Management LP acquired a new stake in Rocket Companies during the 4th quarter valued at approximately $138,000. Hsbc Holdings PLC grew its position in Rocket Companies by 875.5% during the 4th quarter. Hsbc Holdings PLC now owns 145,485 shares of the company’s stock worth $1,634,000 after purchasing an additional 130,571 shares during the period. Tower Research Capital LLC TRC grew its position in Rocket Companies by 461.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 20,384 shares of the company’s stock worth $230,000 after purchasing an additional 16,753 shares during the period. Ossiam lifted its holdings in shares of Rocket Companies by 276.0% in the 4th quarter. Ossiam now owns 18,621 shares of the company’s stock valued at $210,000 after buying an additional 13,668 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Rocket Companies by 7.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 247,778 shares of the company’s stock valued at $2,790,000 after buying an additional 18,169 shares during the period. Hedge funds and other institutional investors own 4.59% of the company’s stock.

Analysts Set New Price Targets

RKT has been the subject of a number of analyst reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $18.00 price target on shares of Rocket Companies in a report on Tuesday, April 1st. Wedbush reissued a “neutral” rating and set a $12.00 price target (down from $13.00) on shares of Rocket Companies in a report on Friday. UBS Group dropped their price target on shares of Rocket Companies from $14.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 16th. Deutsche Bank Aktiengesellschaft upgraded shares of Rocket Companies from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Wednesday, April 2nd. Finally, JPMorgan Chase & Co. dropped their target price on Rocket Companies from $14.00 to $10.50 and set an “underweight” rating on the stock in a research report on Tuesday, January 14th. 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’s stock. According to MarketBeat, Rocket Companies has an average rating of “Hold” and a consensus price target of $14.29.

Rocket Companies Stock Performance

Shares of NYSE:RKT opened at $11.11 on Friday. The company has a debt-to-equity ratio of 1.51, a current ratio of 15.47 and a quick ratio of 15.47. Rocket Companies, Inc. has a 1 year low of $10.06 and a 1 year high of $21.38. The firm has a market capitalization of $22.18 billion, a PE ratio of -69.44 and a beta of 2.33. The business’s 50 day moving average price is $13.19 and its 200-day moving average price is $13.12.

Rocket Companies (NYSE:RKT) last announced its earnings results on Thursday, May 8th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.04. The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Rocket Companies had a negative net margin of 0.38% and a positive return on equity of 2.86%. The firm’s quarterly revenue was down 10.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.04 EPS. As a group, equities research analysts expect that Rocket Companies, Inc. will post 0.15 earnings per share for the current fiscal year.

Rocket Companies Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th were issued a $0.80 dividend. The ex-dividend date of this dividend was Thursday, March 20th. Rocket Companies’s payout ratio is -4,273.33%.

Rocket Companies 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.