Rocket Companies, Inc. (NYSE:RKT) Position Lowered by Brooktree Capital Management

Brooktree Capital Management reduced its position in Rocket Companies, Inc. (NYSE:RKT) by 1.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 110,594 shares of the company’s stock after selling 1,325 shares during the quarter. Rocket Companies makes up about 0.9% of Brooktree Capital Management’s investment portfolio, making the stock its 19th biggest holding. Brooktree Capital Management’s holdings in Rocket Companies were worth $1,245,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of RKT. KBC Group NV raised its position in shares of Rocket Companies by 58.1% during the 4th quarter. KBC Group NV now owns 6,056 shares of the company’s stock valued at $68,000 after acquiring an additional 2,226 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Rocket Companies during the fourth quarter worth $135,000. Daiwa Securities Group Inc. bought a new position in shares of Rocket Companies in the 4th quarter worth about $136,000. Proficio Capital Partners LLC acquired a new position in shares of Rocket Companies in the 4th quarter valued at about $154,000. Finally, V Square Quantitative Management LLC grew its position in shares of Rocket Companies by 130.2% during the 4th quarter. V Square Quantitative Management LLC now owns 14,371 shares of the company’s stock valued at $162,000 after buying an additional 8,127 shares during the last quarter. Institutional investors and hedge funds own 4.59% of the company’s stock.

Rocket Companies Stock Performance

RKT stock opened at $15.71 on Tuesday. The company has a 50-day simple moving average of $12.80 and a 200 day simple moving average of $14.71. The company has a market capitalization of $31.37 billion, a P/E ratio of -98.21 and a beta of 2.39. The company has a quick ratio of 15.47, a current ratio of 15.47 and a debt-to-equity ratio of 1.51. 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 business also recently declared a dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th will be paid a $0.80 dividend. The ex-dividend date is Thursday, March 20th. Rocket Companies’s dividend payout ratio is currently 801.25%.

Analyst Ratings Changes

A number of brokerages have issued reports on RKT. Morgan Stanley cut their target price on shares of Rocket Companies from $16.00 to $13.00 and set an “equal weight” rating on the stock in a report on Thursday, December 19th. Keefe, Bruyette & Woods increased their price target on Rocket Companies from $10.50 to $12.00 and gave the stock an “underperform” rating in a research report on Monday, March 3rd. The Goldman Sachs Group reduced their price objective on Rocket Companies from $16.00 to $14.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. UBS Group raised Rocket Companies from a “sell” rating to a “neutral” rating and dropped their target price for the stock from $12.50 to $11.50 in a research report on Friday, January 10th. Finally, Wedbush reissued a “neutral” rating and set a $13.00 price target on shares of Rocket Companies in a report on Wednesday, March 5th. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat.com, Rocket Companies presently has an average rating of “Hold” and an average price target of $13.83.

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.