Mercer Global Advisors Inc. ADV decreased its position in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) by 13.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 208,669 shares of the company's stock after selling 32,059 shares during the period. Mercer Global Advisors Inc. ADV's holdings in Rocket Companies were worth $2,350,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Itau Unibanco Holding S.A. bought a new stake in Rocket Companies in the 4th quarter valued at about $47,000. KBC Group NV raised its position in shares of 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 stake in shares of Rocket Companies by 57.2% in the fourth quarter. Sterling Capital Management LLC now owns 8,295 shares of the company's stock valued at $93,000 after buying an additional 3,019 shares during the period. Caisse Des Depots ET Consignations bought a new stake in shares of Rocket Companies in the fourth quarter valued at approximately $99,000. Finally, Garner Asset Management Corp bought a new position in Rocket Companies during the 4th quarter worth $118,000. Institutional investors and hedge funds own 4.59% of the company's stock.
Analyst Upgrades and Downgrades
RKT has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft raised Rocket Companies from a "hold" rating to a "buy" rating and set a $16.00 target price on the stock in a report on Wednesday, April 2nd. 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. Wedbush restated a "neutral" rating and issued a $12.00 target price (down from $13.00) on shares of Rocket Companies in a research report on Friday. Keefe, Bruyette & Woods increased their price target on shares of Rocket Companies from $14.00 to $15.00 and gave the stock a "market perform" rating in a research report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of 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 investment 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. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $14.29.
Check Out Our Latest Analysis on Rocket Companies
Rocket Companies Trading Up 3.6%
Rocket Companies stock traded up $0.40 during trading hours on Monday, hitting $11.51. The stock had a trading volume of 4,343,751 shares, compared to its average volume of 5,098,997. The business's 50 day simple moving average is $13.19 and its 200-day simple moving average is $13.09. Rocket Companies, Inc. has a one year low of $10.06 and a one year high of $21.38. The stock has a market cap of $22.98 billion, a price-to-earnings ratio of -71.78 and a beta of 2.33. 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 earnings results on Thursday, May 8th. The company reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. Rocket Companies had a negative net margin of 0.38% and a positive return on equity of 2.86%. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same period last year, the company earned $0.04 EPS. The firm's revenue was down 10.8% compared to the same quarter last year. On average, equities analysts predict that Rocket Companies, Inc. will post 0.15 EPS for the current fiscal year.
Rocket Companies Cuts Dividend
The business also recently disclosed a dividend, which was paid on Thursday, April 3rd. Investors of record on Thursday, March 20th were issued a $0.80 dividend. The ex-dividend date was Thursday, March 20th. Rocket Companies's payout ratio is -4,273.33%.
About Rocket Companies
(
Free Report)
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.
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