Tidal Investments LLC Cuts Holdings in Rocket Companies, Inc. (NYSE:RKT)

Tidal Investments LLC reduced its position in Rocket Companies, Inc. (NYSE:RKT - Free Report) by 17.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 260,719 shares of the company's stock after selling 55,045 shares during the quarter. Tidal Investments LLC's holdings in Rocket Companies were worth $2,936,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Itau Unibanco Holding S.A. bought a new stake in shares of Rocket Companies in the 4th quarter valued at about $47,000. KBC Group NV lifted its stake in shares of Rocket Companies by 58.1% in the 4th quarter. KBC Group NV now owns 6,056 shares of the company's stock valued at $68,000 after acquiring an additional 2,226 shares during the last quarter. Sterling Capital Management LLC lifted its stake in shares of Rocket Companies by 57.2% in the 4th quarter. Sterling Capital Management LLC now owns 8,295 shares of the company's stock valued at $93,000 after acquiring an additional 3,019 shares during the last quarter. Caisse Des Depots ET Consignations bought a new stake in shares of Rocket Companies in the 4th quarter valued at about $99,000. Finally, Garner Asset Management Corp bought a new stake in shares of Rocket Companies in the 4th quarter valued at about $118,000. 4.59% of the stock is currently owned by hedge funds and other institutional investors.

Rocket Companies Stock Down 1.1%

Shares of RKT stock traded down $0.14 during midday trading on Tuesday, reaching $12.55. 2,359,029 shares of the stock were exchanged, compared to its average volume of 9,293,604. Rocket Companies, Inc. has a 1 year low of $10.06 and a 1 year high of $21.38. The company's 50 day moving average is $12.75 and its two-hundred day moving average is $12.82. 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 firm has a market cap of $25.09 billion, a PE ratio of -78.41 and a beta of 2.33.

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

Rocket Companies Cuts Dividend

The business also recently declared a dividend, which was paid on Thursday, April 3rd. Investors 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 currently -4,273.33%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Wedbush reissued a "neutral" rating and issued a $12.00 target price (down previously from $13.00) on shares of Rocket Companies in a research note on Friday, May 9th. Keefe, Bruyette & Woods lowered their price target on Rocket Companies from $15.00 to $13.00 and set a "market perform" rating for the company in a research report on Monday, May 12th. 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. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $18.00 price target on shares of Rocket Companies in a research report on Tuesday, April 1st. Finally, Barclays raised Rocket Companies from an "underweight" rating to an "equal weight" rating and upped their price target for the company from $10.00 to $14.00 in a research report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, Rocket Companies currently has a consensus rating of "Hold" and a consensus price target of $14.13.

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.