Schonfeld Strategic Advisors LLC Boosts Stock Position in Rocket Companies, Inc. (NYSE:RKT)

Schonfeld Strategic Advisors LLC lifted its stake in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) by 1,404.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 156,825 shares of the company's stock after purchasing an additional 146,404 shares during the period. Schonfeld Strategic Advisors LLC's holdings in Rocket Companies were worth $1,766,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wellington Management Group LLP lifted its holdings 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 last quarter. Boston Partners lifted its holdings 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 acquiring an additional 2,829,292 shares during the last quarter. Barclays PLC lifted its holdings in Rocket Companies by 216.1% in the fourth quarter. Barclays PLC now owns 753,345 shares of the company's stock valued at $8,483,000 after acquiring an additional 515,022 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Rocket Companies by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 12,520,074 shares of the company's stock valued at $140,976,000 after acquiring an additional 431,054 shares during the last quarter. Finally, Jump Financial LLC acquired a new position in Rocket Companies in the fourth quarter valued at approximately $4,676,000. 4.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. 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. Royal Bank of Canada reiterated a "sector perform" rating and issued a $18.00 price objective on shares of Rocket Companies in a report on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft upgraded Rocket Companies from a "hold" rating to a "buy" rating and set a $16.00 price objective on the stock in a report on Wednesday, April 2nd. Wedbush reissued a "neutral" rating and issued a $12.00 target price (down previously from $13.00) on shares of Rocket Companies in a research report on Friday. Finally, Keefe, Bruyette & Woods boosted their target price 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. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $14.29.

Rocket Companies Stock Down 4.6%

Shares of NYSE RKT traded down $0.54 during mid-day trading on Friday, hitting $11.11. The company had a trading volume of 21,046,335 shares, compared to its average volume of 5,099,191. The company has a market capitalization of $22.18 billion, a PE ratio of -69.44 and a beta of 2.33. The company has a debt-to-equity ratio of 1.51, a current ratio of 15.47 and a quick ratio of 15.47. Rocket Companies, Inc. has a 1-year low of $10.06 and a 1-year high of $21.38. The business's 50-day simple moving average is $13.19 and its 200 day simple moving average is $13.09.

Rocket Companies (NYSE:RKT - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. The business had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.26 billion. Rocket Companies had a positive return on equity of 2.86% and a negative net margin of 0.38%. The company's revenue for the quarter was down 10.8% compared to the same quarter last year. During the same period last year, the firm earned $0.04 earnings per share. On average, analysts predict that Rocket Companies, Inc. will post 0.15 earnings per share for the current year.

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 paid a $0.80 dividend. The ex-dividend date was Thursday, March 20th. Rocket Companies's payout ratio is currently -4,273.33%.

Rocket Companies 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.