Rocket Companies (NYSE:RKT) Trading Up 8.5% - Time to Buy?

Rocket Companies, Inc. (NYSE:RKT - Get Free Report)'s share price traded up 8.5% on Monday . The stock traded as high as $12.92 and last traded at $12.91. Approximately 6,579,476 shares changed hands during mid-day trading, an increase of 47% from the average daily volume of 4,477,197 shares. The stock had previously closed at $11.90.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RKT. JPMorgan Chase & Co. decreased their price objective on Rocket Companies from $14.00 to $10.50 and set an "underweight" rating on the stock in a report on Tuesday, January 14th. Keefe, Bruyette & Woods boosted their price objective on Rocket Companies from $14.00 to $15.00 and gave the company a "market perform" rating in a research report on Tuesday, April 8th. UBS Group cut their target price on shares of Rocket Companies from $14.00 to $13.00 and set a "neutral" rating on the stock in a report on Wednesday. Wedbush reiterated an "outperform" rating and set a $13.00 price target on shares of Rocket Companies in a report on Wednesday. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $18.00 price objective on shares of Rocket Companies in a research report on Tuesday, April 1st. 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's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $14.38.

Rocket Companies Stock Down 1.4 %

The company has a quick ratio of 15.47, a current ratio of 15.47 and a debt-to-equity ratio of 1.51. The stock has a market capitalization of $24.11 billion, a PE ratio of -75.49 and a beta of 2.35. The company's fifty day moving average price is $13.48 and its 200-day moving average price is $13.71.

Rocket Companies Cuts Dividend

The business also recently declared a dividend, which was paid on Thursday, April 3rd. Stockholders 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 presently 801.25%.

Institutional Trading of Rocket Companies

A number of institutional investors and hedge funds have recently bought and sold shares of RKT. AXQ Capital LP raised its position in Rocket Companies by 125.7% in the 4th quarter. AXQ Capital LP now owns 146,691 shares of the company's stock worth $1,652,000 after buying an additional 81,695 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Rocket Companies by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 12,520,074 shares of the company's stock valued at $140,976,000 after buying an additional 431,054 shares in the last quarter. Quantbot Technologies LP grew its stake in shares of Rocket Companies by 76.9% during the 4th quarter. Quantbot Technologies LP now owns 270,761 shares of the company's stock valued at $3,049,000 after acquiring an additional 117,728 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Rocket Companies by 11.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,163,243 shares of the company's stock worth $13,098,000 after acquiring an additional 122,534 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in Rocket Companies by 174.5% during the 4th quarter. Wellington Management Group LLP now owns 4,705,177 shares of the company's stock worth $52,980,000 after acquiring an additional 2,990,837 shares during the period. 4.59% of the stock is currently owned by institutional investors.

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.