Short Interest in Rocket Companies, Inc. (NYSE:RKT) Declines By 15.9%

Rocket Companies, Inc. (NYSE:RKT - Get Free Report) was the recipient of a significant decrease in short interest in the month of March. As of March 31st, there was short interest totalling 25,720,000 shares, a decrease of 15.9% from the March 15th total of 30,600,000 shares. Approximately 18.6% of the shares of the company are short sold. Based on an average trading volume of 8,010,000 shares, the days-to-cover ratio is presently 3.2 days.

Institutional Trading of Rocket Companies

Large investors have recently bought and sold shares of the company. Wellington Management Group LLP boosted its position in shares of Rocket Companies by 174.5% in the 4th quarter. Wellington Management Group LLP now owns 4,705,177 shares of the company's stock worth $52,980,000 after buying an additional 2,990,837 shares in the last quarter. Boston Partners lifted its position in Rocket Companies by 29.8% during the fourth quarter. Boston Partners now owns 12,313,780 shares of the company's stock worth $138,673,000 after buying an additional 2,829,292 shares during the period. Nuveen Asset Management LLC boosted its stake in Rocket Companies by 52.7% in the 4th quarter. Nuveen Asset Management LLC now owns 8,122,148 shares of the company's stock worth $91,455,000 after buying an additional 2,804,090 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Rocket Companies in the 4th quarter valued at about $14,113,000. Finally, BNP Paribas Financial Markets acquired a new position in shares of Rocket Companies during the 4th quarter valued at about $11,037,000. Institutional investors and hedge funds own 4.59% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Barclays upgraded shares of Rocket Companies from an "underweight" rating to an "equal weight" rating and raised their price target for the company from $10.00 to $14.00 in a research report on Tuesday, April 8th. The Goldman Sachs Group decreased their price target on Rocket Companies from $16.00 to $14.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods boosted their price objective on Rocket Companies from $14.00 to $15.00 and gave the stock a "market perform" rating in a research report on Tuesday, April 8th. Wedbush reiterated an "outperform" rating and issued a $13.00 price target on shares of Rocket Companies in a research note on Wednesday, April 16th. Finally, Deutsche Bank Aktiengesellschaft raised Rocket Companies from a "hold" rating to a "buy" rating and set a $16.00 price target on the stock in a research report on Wednesday, April 2nd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $14.38.

Rocket Companies Price Performance

Shares of NYSE RKT traded down $0.30 during trading on Friday, hitting $12.86. 9,344,144 shares of the company were exchanged, compared to its average volume of 4,733,217. The firm's fifty day moving average price is $13.43 and its 200 day moving average price is $13.52. Rocket Companies has a 1 year low of $10.06 and a 1 year high of $21.38. The company has a debt-to-equity ratio of 1.51, a current ratio of 15.47 and a quick ratio of 15.47. The company has a market cap of $25.67 billion, a price-to-earnings ratio of -80.38 and a beta of 2.35.

Rocket Companies Cuts Dividend

The company also recently disclosed a dividend, which was paid on Thursday, April 3rd. Investors 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 dividend payout ratio is presently 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.