Farringdon Capital Ltd. Invests $321,000 in Rocket Companies, Inc. (NYSE:RKT)

Farringdon Capital Ltd. purchased a new stake in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 28,526 shares of the company's stock, valued at approximately $321,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. KBC Group NV grew its stake in Rocket Companies by 58.1% in the fourth quarter. KBC Group NV now owns 6,056 shares of the company's stock valued at $68,000 after purchasing an additional 2,226 shares in the last quarter. Lakeshore Financial Planning Inc. grew its stake in Rocket Companies by 21.7% in the fourth quarter. Lakeshore Financial Planning Inc. now owns 13,996 shares of the company's stock valued at $158,000 after purchasing an additional 2,500 shares in the last quarter. Truist Financial Corp grew its stake in Rocket Companies by 12.6% in the fourth quarter. Truist Financial Corp now owns 23,373 shares of the company's stock valued at $263,000 after purchasing an additional 2,621 shares in the last quarter. Virtu Financial LLC grew its stake in Rocket Companies by 22.1% in the third quarter. Virtu Financial LLC now owns 16,135 shares of the company's stock valued at $310,000 after purchasing an additional 2,925 shares in the last quarter. Finally, Sterling Capital Management LLC grew its stake in Rocket Companies by 57.2% in the fourth quarter. Sterling Capital Management LLC now owns 8,295 shares of the company's stock valued at $93,000 after purchasing an additional 3,019 shares in the last quarter. Hedge funds and other institutional investors own 4.59% of the company's stock.

Wall Street Analyst Weigh In

RKT has been the subject of a number of analyst reports. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $18.00 price target on shares of Rocket Companies in a research report on Tuesday, April 1st. Barclays raised Rocket Companies from an "underweight" rating to an "equal weight" rating and boosted their price target for the stock from $10.00 to $14.00 in a research report on Tuesday, April 8th. 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, April 2nd. The Goldman Sachs Group lowered their price objective on shares of Rocket Companies from $16.00 to $14.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 7th. Finally, Wedbush restated an "outperform" rating and set a $13.00 price target on shares of Rocket Companies in a research note on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, Rocket Companies has an average rating of "Hold" and a consensus target price of $14.38.

Rocket Companies Trading Up 6.4 %

NYSE:RKT traded up $0.78 on Thursday, hitting $12.88. 4,478,238 shares of the stock were exchanged, compared to its average volume of 8,148,700. 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, Inc. has a 52 week low of $10.06 and a 52 week high of $21.38. The stock has a market capitalization of $25.70 billion, a price-to-earnings ratio of -80.59 and a beta of 2.35. The company's 50-day moving average price is $13.44 and its 200 day moving average price is $13.58.

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 paid a $0.80 dividend. The ex-dividend date was Thursday, March 20th. Rocket Companies's payout ratio is presently 801.25%.

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.