Freestone Grove Partners LP Takes $815,000 Position in Rocket Companies, Inc. (NYSE:RKT)

Freestone Grove Partners LP purchased a new position in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 72,398 shares of the company's stock, valued at approximately $815,000.

A number of other institutional investors also recently bought and sold shares of the business. KBC Group NV increased its holdings 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 buying an additional 2,226 shares in the last quarter. Sterling Capital Management LLC boosted its position in Rocket Companies by 57.2% during the fourth quarter. Sterling Capital Management LLC now owns 8,295 shares of the company's stock worth $93,000 after purchasing an additional 3,019 shares in the last quarter. Caisse Des Depots ET Consignations acquired a new stake in Rocket Companies in the fourth quarter valued at approximately $99,000. Garner Asset Management Corp acquired a new stake in Rocket Companies in the 4th quarter valued at $118,000. Finally, Huntington National Bank raised its position in Rocket Companies by 548,750.0% during the fourth quarter. Huntington National Bank now owns 10,977 shares of the company's stock worth $124,000 after acquiring an additional 10,975 shares during the period. 4.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RKT has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft raised shares of Rocket Companies from a "hold" rating to a "buy" rating and set a $16.00 price target on the stock in a research note on Wednesday, April 2nd. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $18.00 target price on shares of Rocket Companies in a research note on Tuesday, April 1st. Wedbush reissued a "neutral" rating and issued a $12.00 price objective (down previously from $13.00) on shares of Rocket Companies in a report on Friday. Barclays raised shares of Rocket Companies from an "underweight" rating to an "equal weight" rating and increased their price target for the company from $10.00 to $14.00 in a research note on Tuesday, April 8th. Finally, JPMorgan Chase & Co. lowered their price objective on Rocket Companies from $14.00 to $10.50 and set an "underweight" rating for the company in a research report on Tuesday, January 14th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $14.29.

Rocket Companies Trading Down 2.4 %

Shares of NYSE:RKT traded down $0.28 during midday trading on Friday, reaching $11.37. The company's stock had a trading volume of 14,070,163 shares, compared to its average volume of 5,046,615. The firm has a market cap of $22.70 billion, a price-to-earnings ratio of -71.06 and a beta of 2.33. The business has a 50 day moving average price of $13.24 and a 200 day moving average price of $13.18. Rocket Companies, Inc. has a 1 year low of $10.06 and a 1 year high of $21.38. The company has a quick ratio of 15.47, a current ratio of 15.47 and a debt-to-equity ratio of 1.51.

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 (EPS) for the quarter, meeting analysts' consensus estimates of $0.04. The firm had revenue of $1.04 billion during 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 previous year, the business earned $0.04 earnings per share. Research analysts forecast that Rocket Companies, Inc. will post 0.15 EPS for the current year.

Rocket Companies Cuts Dividend

The firm also recently announced a dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th were paid a $0.80 dividend. The ex-dividend date was Thursday, March 20th. Rocket Companies's dividend payout ratio is presently 801.25%.

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.