Jump Financial LLC Acquires Shares of 415,282 Rocket Companies, Inc. (NYSE:RKT)

Jump Financial LLC bought a new stake in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 415,282 shares of the company's stock, valued at approximately $4,676,000.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp grew its position in Rocket Companies by 44.7% in the third quarter. State Street Corp now owns 4,108,189 shares of the company's stock worth $78,836,000 after acquiring an additional 1,269,795 shares in the last quarter. Barclays PLC boosted its holdings in shares of Rocket Companies by 136.2% in the 3rd quarter. Barclays PLC now owns 238,323 shares of the company's stock worth $4,573,000 after purchasing an additional 137,441 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Rocket Companies by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,043,975 shares of the company's stock valued at $39,235,000 after purchasing an additional 12,735 shares during the last quarter. Virtu Financial LLC lifted its position in Rocket Companies by 22.1% in the 3rd quarter. Virtu Financial LLC now owns 16,135 shares of the company's stock worth $310,000 after buying an additional 2,925 shares during the last quarter. Finally, Tidal Investments LLC boosted its stake in Rocket Companies by 804.3% in the third quarter. Tidal Investments LLC now owns 315,764 shares of the company's stock worth $6,060,000 after buying an additional 280,847 shares in the last quarter. Institutional investors own 4.59% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised shares of 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 lifted their price objective on Rocket Companies from $14.00 to $15.00 and gave the stock a "market perform" rating in a report on Tuesday, April 8th. Barclays upgraded Rocket Companies from an "underweight" rating to an "equal weight" rating and raised their price target for the stock from $10.00 to $14.00 in a research report on Tuesday, April 8th. Wedbush reiterated an "outperform" rating and set a $13.00 price target on shares of Rocket Companies in a report on Wednesday, April 16th. Finally, The Goldman Sachs Group cut their price objective on Rocket Companies from $16.00 to $14.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $14.38.

Rocket Companies Price Performance

Shares of NYSE:RKT traded up $0.45 during trading on Tuesday, hitting $12.00. 1,458,404 shares of the company's stock were exchanged, compared to its average volume of 4,577,041. The company has a debt-to-equity ratio of 1.51, a current ratio of 15.47 and a quick ratio of 15.47. Rocket Companies, Inc. has a 52-week low of $10.06 and a 52-week high of $21.38. The business's 50-day simple moving average is $13.47 and its 200 day simple moving average is $13.60. The company has a market cap of $23.94 billion, a price-to-earnings ratio of -74.84 and a beta of 2.35.

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 given a dividend of $0.80 per share. The ex-dividend date was Thursday, March 20th. Rocket Companies's payout ratio is 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.