Schonfeld Strategic Advisors LLC Purchases 146,404 Shares of Rocket Companies, Inc. (NYSE:RKT)

Schonfeld Strategic Advisors LLC lifted its position in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) by 1,404.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 156,825 shares of the company's stock after buying an additional 146,404 shares during the quarter. Schonfeld Strategic Advisors LLC's holdings in Rocket Companies were worth $1,766,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in RKT. Barclays PLC grew its holdings in Rocket Companies by 136.2% during the 3rd quarter. Barclays PLC now owns 238,323 shares of the company's stock worth $4,573,000 after acquiring an additional 137,441 shares in the last quarter. Virtu Financial LLC boosted its stake in shares of Rocket Companies by 22.1% during the third quarter. Virtu Financial LLC now owns 16,135 shares of the company's stock valued at $310,000 after purchasing an additional 2,925 shares in the last quarter. Connective Portfolio Management LLC purchased a new position in Rocket Companies during the fourth quarter valued at approximately $428,000. Wealthcare Advisory Partners LLC raised its stake in Rocket Companies by 75.1% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 28,508 shares of the company's stock worth $321,000 after buying an additional 12,230 shares in the last quarter. Finally, Missouri Trust & Investment Co lifted its holdings in Rocket Companies by 21.5% during the fourth quarter. Missouri Trust & Investment Co now owns 86,295 shares of the company's stock worth $972,000 after buying an additional 15,260 shares during the period. Hedge funds and other institutional investors own 4.59% of the company's stock.

Analyst Ratings Changes

RKT has been the subject of several recent research reports. 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. JPMorgan Chase & Co. decreased their price target on shares of Rocket Companies from $14.00 to $10.50 and set an "underweight" rating for the company in a research report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft raised shares of Rocket Companies from a "hold" rating to a "buy" rating and set a $16.00 price objective on the stock in a research report on Wednesday, April 2nd. The Goldman Sachs Group decreased their target price 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, UBS Group cut their price target on shares of Rocket Companies from $14.00 to $13.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $14.38.

Rocket Companies Stock Down 5.4 %

Rocket Companies stock opened at $11.94 on Tuesday. The business's 50-day simple moving average is $13.37 and its two-hundred day simple moving average is $13.23. The company has a market cap of $23.83 billion, a PE ratio of -74.61 and a beta of 2.33. The company has a debt-to-equity ratio of 1.51, a quick ratio of 15.47 and a current ratio of 15.47. Rocket Companies, Inc. has a fifty-two week low of $10.06 and a fifty-two week high of $21.38.

Rocket Companies Cuts Dividend

The firm also recently declared a dividend, which was paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th were issued a $0.80 dividend. 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.

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