Marshall Wace LLP Lowers Stock Position in Rocket Companies, Inc. (NYSE:RKT)

Marshall Wace LLP lowered its stake in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) by 80.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,009 shares of the company's stock after selling 244,922 shares during the quarter. Marshall Wace LLP's holdings in Rocket Companies were worth $687,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RKT. KBC Group NV raised its stake in shares of Rocket Companies by 58.1% during the fourth quarter. KBC Group NV now owns 6,056 shares of the company's stock worth $68,000 after purchasing an additional 2,226 shares during the last quarter. Lakeshore Financial Planning Inc. increased its stake in shares of Rocket Companies by 21.7% during the 4th quarter. Lakeshore Financial Planning Inc. now owns 13,996 shares of the company's stock worth $158,000 after purchasing an additional 2,500 shares in the last quarter. Truist Financial Corp increased its position in Rocket Companies by 12.6% during the 4th quarter. Truist Financial Corp now owns 23,373 shares of the company's stock worth $263,000 after purchasing an additional 2,621 shares in the last quarter. Virtu Financial LLC raised its position in shares of Rocket Companies by 22.1% in the third quarter. Virtu Financial LLC now owns 16,135 shares of the company's stock valued at $310,000 after buying an additional 2,925 shares during the last quarter. Finally, Sterling Capital Management LLC boosted its holdings in shares of 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 during the last quarter. 4.59% of the stock is currently owned by institutional investors and hedge funds.

Rocket Companies Trading Up 0.6 %

RKT stock traded up $0.07 on Wednesday, reaching $11.60. The company's stock had a trading volume of 11,924,330 shares, compared to its average volume of 4,957,966. Rocket Companies, Inc. has a 12-month low of $10.06 and a 12-month high of $21.38. The company has a debt-to-equity ratio of 1.51, a quick ratio of 15.47 and a current ratio of 15.47. The business has a fifty day simple moving average of $13.29 and a two-hundred day simple moving average of $13.21. The firm has a market cap of $23.15 billion, a PE ratio of -72.47 and a beta of 2.33.

Rocket Companies Cuts Dividend

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

Analyst Ratings Changes

RKT has been the topic of several analyst reports. UBS Group dropped their price target on shares of Rocket Companies from $14.00 to $13.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Wedbush reiterated an "outperform" rating and set a $13.00 price objective on shares of Rocket Companies in a research report on Wednesday, April 16th. The Goldman Sachs Group dropped their price target on shares of Rocket Companies from $16.00 to $14.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 7th. Royal Bank of Canada restated a "sector perform" rating and issued a $18.00 price objective on shares of Rocket Companies in a report on Tuesday, April 1st. Finally, JPMorgan Chase & Co. decreased their target price on shares of Rocket Companies from $14.00 to $10.50 and set an "underweight" rating for the company in a report on Tuesday, January 14th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $14.38.

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.