Rocket Companies, Inc. (NYSE:RKT) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lowered its position in Rocket Companies, Inc. (NYSE:RKT - Free Report) by 39.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,679,036 shares of the company's stock after selling 1,078,568 shares during the quarter. Renaissance Technologies LLC owned about 0.08% of Rocket Companies worth $18,906,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. KBC Group NV lifted its stake in shares of Rocket Companies by 58.1% during the 4th quarter. KBC Group NV now owns 6,056 shares of the company's stock worth $68,000 after acquiring an additional 2,226 shares during the last quarter. Caisse Des Depots ET Consignations bought a new position in Rocket Companies in the 4th quarter worth about $99,000. Huntington National Bank increased its position in shares of Rocket Companies by 548,750.0% during the fourth quarter. Huntington National Bank now owns 10,977 shares of the company's stock worth $124,000 after acquiring an additional 10,975 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Rocket Companies in the fourth quarter valued at approximately $135,000. Finally, Daiwa Securities Group Inc. bought a new position in Rocket Companies in the fourth quarter worth approximately $136,000. 4.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Rocket Companies Stock Performance

RKT traded down $0.17 during midday trading on Friday, hitting $12.08. 6,654,375 shares of the company were exchanged, compared to its average volume of 4,543,613. Rocket Companies, Inc. has a 1-year low of $10.06 and a 1-year high of $21.38. The company has a current ratio of 15.47, a quick ratio of 15.47 and a debt-to-equity ratio of 1.51. The company's 50 day simple moving average is $13.50 and its 200 day simple moving average is $13.76. The firm has a market capitalization of $24.11 billion, a price-to-earnings ratio of -75.49 and a beta of 2.35.

Rocket Companies Cuts Dividend

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

Rocket Companies Company Profile

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.