Wellington Management Group LLP Has $52.98 Million Position in Rocket Companies, Inc. (NYSE:RKT)

Wellington Management Group LLP increased its stake in Rocket Companies, Inc. (NYSE:RKT - Free Report) by 174.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,705,177 shares of the company's stock after buying an additional 2,990,837 shares during the period. Wellington Management Group LLP owned about 0.24% of Rocket Companies worth $52,980,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. AXQ Capital LP boosted its holdings in Rocket Companies by 125.7% in the fourth quarter. AXQ Capital LP now owns 146,691 shares of the company's stock worth $1,652,000 after purchasing an additional 81,695 shares during the period. Hsbc Holdings PLC boosted its holdings in Rocket Companies by 875.5% in the fourth 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. Aquatic Capital Management LLC boosted its holdings in Rocket Companies by 54.5% in the fourth quarter. Aquatic Capital Management LLC now owns 173,754 shares of the company's stock worth $1,956,000 after purchasing an additional 61,265 shares during the period. Vanguard Group Inc. boosted its holdings in Rocket Companies by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 12,520,074 shares of the company's stock worth $140,976,000 after purchasing an additional 431,054 shares during the period. Finally, Quantbot Technologies LP boosted its holdings in Rocket Companies by 76.9% in the fourth quarter. Quantbot Technologies LP now owns 270,761 shares of the company's stock worth $3,049,000 after purchasing an additional 117,728 shares during the period. Institutional investors own 4.59% of the company's stock.

Rocket Companies Price Performance

RKT stock traded up $0.08 during trading on Tuesday, hitting $12.60. The company had a trading volume of 2,966,299 shares, compared to its average volume of 5,720,320. The company has a current ratio of 15.47, a quick ratio of 15.47 and a debt-to-equity ratio of 1.51. The business has a 50 day moving average of $12.65 and a 200 day moving average of $12.77. Rocket Companies, Inc. has a fifty-two week low of $10.06 and a fifty-two week high of $21.38. The firm has a market capitalization of $25.20 billion, a price-to-earnings ratio of -78.75 and a beta of 2.33.

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

Rocket Companies Cuts Dividend

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on RKT. Keefe, Bruyette & Woods reduced their price target on shares of Rocket Companies from $15.00 to $13.00 and set a "market perform" rating for the company in a report on Monday, May 12th. Barclays raised shares of Rocket Companies from an "underweight" rating to an "equal weight" rating and boosted their price target for the company from $10.00 to $14.00 in a report on Tuesday, April 8th. Wedbush reissued a "neutral" rating and set a $12.00 price target (down previously from $13.00) on shares of Rocket Companies in a report on Friday, May 9th. Deutsche Bank Aktiengesellschaft raised shares of Rocket Companies from a "hold" rating to a "buy" rating and set a $16.00 price target for the company in a report on Wednesday, April 2nd. Finally, UBS Group boosted their price target on shares of Rocket Companies from $13.00 to $14.00 and gave the company a "neutral" rating in a report on Thursday, May 29th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $14.21.

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.