PDT Partners LLC Has $3.62 Million Stake in Rocket Companies, Inc. (NYSE:RKT)

PDT Partners LLC lifted its position in Rocket Companies, Inc. (NYSE:RKT - Free Report) by 26.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 321,591 shares of the company's stock after purchasing an additional 67,655 shares during the quarter. PDT Partners LLC's holdings in Rocket Companies were worth $3,621,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

RKT has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut their target price on shares of Rocket Companies from $14.00 to $10.50 and set an "underweight" rating for the company in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods increased their target price on Rocket Companies from $14.00 to $15.00 and gave the stock a "market perform" rating in a report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft raised Rocket Companies from a "hold" rating to a "buy" rating and set a $16.00 price target for the company in a report on Wednesday, April 2nd. The Goldman Sachs Group dropped their price objective on shares of Rocket Companies from $16.00 to $14.00 and set a "neutral" rating for the company in a research report on Tuesday, January 7th. Finally, Barclays upgraded Rocket Companies from an "underweight" rating to an "equal weight" rating and boosted their target price for the stock from $10.00 to $14.00 in a research report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Rocket Companies has a consensus rating of "Hold" and an average price target of $14.38.

Rocket Companies Stock Performance

Shares of RKT stock traded down $0.14 on Friday, reaching $12.64. The stock had a trading volume of 13,264,002 shares, compared to its average volume of 4,860,944. Rocket Companies, Inc. has a 12 month low of $10.06 and a 12 month high of $21.38. The firm has a market capitalization of $25.23 billion, a price-to-earnings ratio of -79.00 and a beta of 2.35. The firm's 50-day moving average is $13.39 and its two-hundred day moving average is $13.31. 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 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 dividend of $0.80 per share. The ex-dividend date of this dividend was Thursday, March 20th. Rocket Companies's dividend payout ratio is currently 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.