Rocket Companies, Inc. (NYSE:RKT) Shares Acquired by AXQ Capital LP

AXQ Capital LP raised its stake in shares of Rocket Companies, Inc. (NYSE:RKT) by 125.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 146,691 shares of the company’s stock after acquiring an additional 81,695 shares during the period. Rocket Companies makes up 0.7% of AXQ Capital LP’s holdings, making the stock its 9th biggest holding. AXQ Capital LP’s holdings in Rocket Companies were worth $1,652,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in the stock. Boston Partners increased its position in shares of Rocket Companies by 29.8% during 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. State Street Corp boosted its stake in shares of Rocket Companies by 44.7% in the third quarter. State Street Corp now owns 4,108,189 shares of the company’s stock valued at $78,836,000 after purchasing an additional 1,269,795 shares during the period. Geode Capital Management LLC boosted its stake in shares of Rocket Companies by 0.6% in the third quarter. Geode Capital Management LLC now owns 2,043,975 shares of the company’s stock valued at $39,235,000 after purchasing an additional 12,735 shares during the period. Bruni J V & Co. Co. boosted its stake in shares of Rocket Companies by 21.2% in the fourth quarter. Bruni J V & Co. Co. now owns 1,860,060 shares of the company’s stock valued at $20,944,000 after purchasing an additional 324,976 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Rocket Companies by 11.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,163,243 shares of the company’s stock valued at $13,098,000 after purchasing an additional 122,534 shares during the period. 4.59% of the stock is currently owned by institutional investors and hedge funds.

Rocket Companies Stock Down 1.7 %

RKT stock opened at $14.10 on Friday. 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, Inc. has a twelve month low of $10.06 and a twelve month high of $21.38. The company’s 50 day moving average is $13.14 and its two-hundred day moving average is $14.64. The stock has a market cap of $28.14 billion, a P/E ratio of -88.09 and a beta of 2.39.

Rocket Companies Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th will be issued a dividend of $0.80 per share. The ex-dividend date is Thursday, March 20th. Rocket Companies’s payout ratio is currently 801.25%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on RKT shares. Morgan Stanley lowered their price objective on shares of Rocket Companies from $16.00 to $13.00 and set an “equal weight” rating for the company in a research note on Thursday, December 19th. Keefe, Bruyette & Woods raised their price objective on shares of Rocket Companies from $10.50 to $12.00 and gave the company an “underperform” rating in a research note on Monday, March 3rd. Wedbush reissued a “neutral” rating and issued a $13.00 price objective on shares of Rocket Companies in a research note on Wednesday, March 5th. JPMorgan Chase & Co. lowered their price objective on shares of Rocket Companies from $14.00 to $10.50 and set an “underweight” rating for the company in a research note on Tuesday, January 14th. Finally, The Goldman Sachs Group decreased 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 note on Tuesday, January 7th. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to MarketBeat.com, Rocket Companies has an average rating of “Hold” and a consensus price target of $13.83.

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.