Wellington Management Group LLP Grows Stock Position in Rocket Companies, Inc. (NYSE:RKT)

Wellington Management Group LLP boosted its holdings in Rocket Companies, Inc. (NYSE:RKT - Free Report) by 174.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,705,177 shares of the company's stock after buying an additional 2,990,837 shares during the quarter. Wellington Management Group LLP owned 0.24% of Rocket Companies worth $52,980,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Barclays PLC increased its position in shares of Rocket Companies by 136.2% during the 3rd quarter. Barclays PLC now owns 238,323 shares of the company's stock valued at $4,573,000 after purchasing an additional 137,441 shares during the last quarter. KBC Group NV increased its position in shares of Rocket Companies by 58.1% during the 4th 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 during the last quarter. Patriot Financial Group Insurance Agency LLC increased its position in shares of Rocket Companies by 55.0% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 21,513 shares of the company's stock valued at $242,000 after purchasing an additional 7,635 shares during the last quarter. Entropy Technologies LP increased its position in shares of Rocket Companies by 105.5% during the 4th quarter. Entropy Technologies LP now owns 93,695 shares of the company's stock valued at $1,055,000 after purchasing an additional 48,098 shares during the last quarter. Finally, MFG Wealth Management Inc. purchased a new stake in shares of Rocket Companies during the 4th quarter valued at about $974,000. 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 recent research reports. UBS Group boosted their price objective on Rocket Companies from $13.00 to $14.00 and gave the company a "neutral" rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft upgraded Rocket Companies from a "hold" rating to a "buy" rating and set a $16.00 price objective for the company in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods cut their price objective on Rocket Companies from $15.00 to $13.00 and set a "market perform" rating for the company in a research note on Monday, May 12th. Royal Bank of Canada reiterated a "sector perform" rating and set a $18.00 price objective on shares of Rocket Companies in a research note on Tuesday, April 1st. Finally, Wedbush reiterated a "neutral" rating and set a $12.00 price objective (down from $13.00) on shares of Rocket Companies in a research note on Friday, May 9th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $14.21.

Rocket Companies Price Performance

Shares of RKT traded down $0.32 during mid-day trading on Friday, hitting $12.75. 8,509,067 shares of the stock were exchanged, compared to its average volume of 5,724,890. The company has a market cap of $25.50 billion, a PE ratio of -79.69 and a beta of 2.33. Rocket Companies, Inc. has a 52-week low of $10.06 and a 52-week high of $21.38. The firm has a 50-day moving average of $12.67 and a two-hundred day moving average of $12.78. 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 (NYSE:RKT - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.04. The business had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.26 billion. Rocket Companies had a positive return on equity of 2.86% and a negative net margin of 0.38%. The company's revenue for the quarter was down 10.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.04 EPS. On average, equities 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. Stockholders of record on Thursday, March 20th were issued a dividend of $0.80 per share. The ex-dividend date was Thursday, March 20th. Rocket Companies's dividend payout ratio (DPR) is -4,273.33%.

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.