Numerai GP LLC Buys New Shares in Rocket Companies, Inc. (NYSE:RKT)

Numerai GP LLC bought a new position in Rocket Companies, Inc. (NYSE:RKT - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 20,596 shares of the company's stock, valued at approximately $232,000.

Other hedge funds have also modified their holdings of the company. Cetera Investment Advisers grew its position in Rocket Companies by 2.9% during the fourth quarter. Cetera Investment Advisers now owns 33,035 shares of the company's stock valued at $372,000 after purchasing an additional 936 shares in the last quarter. KBC Group NV grew its position in Rocket Companies by 58.1% during the fourth quarter. KBC Group NV now owns 6,056 shares of the company's stock valued at $68,000 after purchasing an additional 2,226 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Rocket Companies by 9.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 27,825 shares of the company's stock valued at $313,000 after purchasing an additional 2,437 shares in the last quarter. Lakeshore Financial Planning Inc. grew its position in Rocket Companies by 21.7% during the fourth quarter. Lakeshore Financial Planning Inc. now owns 13,996 shares of the company's stock valued at $158,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Truist Financial Corp grew its position in Rocket Companies by 12.6% during the fourth quarter. Truist Financial Corp now owns 23,373 shares of the company's stock valued at $263,000 after purchasing an additional 2,621 shares in the last quarter. 4.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on RKT. Keefe, Bruyette & Woods reduced their target price on shares of Rocket Companies from $15.00 to $13.00 and set a "market perform" rating for the company in a research note on Monday, May 12th. Deutsche Bank Aktiengesellschaft upgraded shares of Rocket Companies from a "hold" rating to a "buy" rating and set a $16.00 target price for the company in a research note on Wednesday, April 2nd. Barclays upgraded shares of Rocket Companies from an "underweight" rating to an "equal weight" rating and lifted their target price for the company from $10.00 to $14.00 in a research note on Tuesday, April 8th. Wedbush reiterated a "neutral" rating and issued a $12.00 target price (down from $13.00) on shares of Rocket Companies in a research note on Friday, May 9th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $18.00 target price on shares of Rocket Companies in a research note on Tuesday, April 1st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $14.13.

Rocket Companies Stock Performance

Shares of Rocket Companies stock traded down $0.29 on Monday, reaching $12.95. The stock had a trading volume of 11,732,272 shares, compared to its average volume of 5,500,475. The business's 50-day moving average price is $12.98 and its two-hundred day moving average price is $12.94. The company has a debt-to-equity ratio of 1.51, a quick ratio of 15.47 and a current ratio of 15.47. Rocket Companies, Inc. has a fifty-two week low of $10.06 and a fifty-two week high of $21.38. The stock has a market cap of $25.85 billion, a P/E ratio of -80.94 and a beta of 2.33.

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

Rocket Companies Cuts Dividend

The business also recently announced a dividend, which was paid on Thursday, April 3rd. Investors of record on Thursday, March 20th were paid a dividend of $0.80 per share. The ex-dividend date was Thursday, March 20th. Rocket Companies's payout ratio is currently -4,273.33%.

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.