Aquatic Capital Management LLC Boosts Stock Position in Rocket Companies, Inc. (NYSE:RKT)

Aquatic Capital Management LLC lifted its stake in Rocket Companies, Inc. (NYSE:RKT - Free Report) by 54.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 173,754 shares of the company's stock after buying an additional 61,265 shares during the period. Aquatic Capital Management LLC's holdings in Rocket Companies were worth $1,956,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the company. Wellington Management Group LLP grew its position in Rocket Companies by 174.5% in the fourth quarter. Wellington Management Group LLP now owns 4,705,177 shares of the company's stock valued at $52,980,000 after acquiring an additional 2,990,837 shares during the period. Boston Partners lifted its stake in Rocket Companies by 29.8% in the fourth quarter. Boston Partners now owns 12,313,780 shares of the company's stock valued at $138,673,000 after buying an additional 2,829,292 shares during the period. Barclays PLC boosted its position in shares of Rocket Companies by 216.1% during the fourth quarter. Barclays PLC now owns 753,345 shares of the company's stock worth $8,483,000 after purchasing an additional 515,022 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Rocket Companies by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 12,520,074 shares of the company's stock valued at $140,976,000 after purchasing an additional 431,054 shares during the period. Finally, Jump Financial LLC bought a new position in Rocket Companies during the 4th quarter worth about $4,676,000. Institutional investors own 4.59% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RKT. Keefe, Bruyette & Woods boosted their price target 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. The Goldman Sachs Group dropped their price target 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. Wedbush reiterated an "outperform" rating and set a $13.00 price objective on shares of Rocket Companies in a research note on Wednesday, April 16th. Royal Bank of Canada reissued a "sector perform" rating and set a $18.00 price target on shares of Rocket Companies in a report on Tuesday, April 1st. Finally, JPMorgan Chase & Co. lowered their price target on shares of Rocket Companies from $14.00 to $10.50 and set an "underweight" rating for the company in a report on Tuesday, January 14th. 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. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $14.38.

Rocket Companies Stock Performance

NYSE:RKT traded down $0.14 during mid-day trading on Friday, reaching $12.64. The company's stock had a trading volume of 13,264,002 shares, compared to its average volume of 4,846,236. The stock has a market cap of $25.23 billion, a P/E ratio of -79.00 and a beta of 2.35. The firm's fifty day moving average price is $13.41 and its two-hundred day moving average price is $13.38. Rocket Companies, Inc. has a 12-month low of $10.06 and a 12-month 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.

Rocket Companies Cuts Dividend

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