350,382 Shares in Rocket Companies, Inc. (NYSE:RKT) Bought by Cinctive Capital Management LP

Cinctive Capital Management LP bought a new stake in Rocket Companies, Inc. (NYSE:RKT) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 350,382 shares of the company’s stock, valued at approximately $3,945,000.

A number of other large investors have also added to or reduced their stakes in the company. Bryce Point Capital LLC bought a new position in shares of Rocket Companies during the 4th quarter worth approximately $498,000. Huntington National Bank boosted its stake in Rocket Companies by 548,750.0% in the fourth quarter. Huntington National Bank now owns 10,977 shares of the company’s stock valued at $124,000 after acquiring an additional 10,975 shares in the last quarter. EMG Holdings L.P. grew its holdings in Rocket Companies by 170.9% in the fourth quarter. EMG Holdings L.P. now owns 220,748 shares of the company’s stock worth $2,486,000 after purchasing an additional 139,252 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Rocket Companies by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 2,118,701 shares of the company’s stock worth $23,865,000 after purchasing an additional 74,726 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Rocket Companies by 174.5% during the 4th quarter. Wellington Management Group LLP now owns 4,705,177 shares of the company’s stock valued at $52,980,000 after purchasing an additional 2,990,837 shares during the last quarter. 4.59% of the stock is currently owned by institutional investors.

Rocket Companies Stock Performance

Shares of NYSE RKT opened at $13.81 on Thursday. Rocket Companies, Inc. has a 1 year low of $10.06 and a 1 year high of $21.38. The company has a debt-to-equity ratio of 1.51, a quick ratio of 15.47 and a current ratio of 15.47. The company’s fifty day moving average price is $13.39 and its 200 day moving average price is $14.27. The company has a market capitalization of $27.57 billion, a PE ratio of -86.31 and a beta of 2.39.

Rocket Companies Cuts Dividend

The firm also recently declared a dividend, which will be paid on Thursday, April 3rd. Investors 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 presently 801.25%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on RKT shares. Morgan Stanley decreased their price target on shares of Rocket Companies from $16.00 to $13.00 and set an “equal weight” rating for the company in a report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft raised Rocket Companies from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research report on Wednesday. Keefe, Bruyette & Woods upgraded Rocket Companies from an “underperform” rating to a “market perform” rating and boosted their price target for the company from $12.00 to $14.00 in a research note on Wednesday. UBS Group raised Rocket Companies from a “sell” rating to a “neutral” rating and decreased their target price for the stock from $12.50 to $11.50 in a report on Friday, January 10th. Finally, JPMorgan Chase & Co. cut their price target on shares of Rocket Companies from $14.00 to $10.50 and set an “underweight” rating on the stock in a report on Tuesday, January 14th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Rocket Companies presently has a consensus rating of “Hold” and a consensus target price of $14.08.

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.