Freestone Grove Partners LP Purchases Shares of 72,398 Rocket Companies, Inc. (NYSE:RKT)

Freestone Grove Partners LP acquired a new position in Rocket Companies, Inc. (NYSE:RKT) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 72,398 shares of the company’s stock, valued at approximately $815,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. KBC Group NV raised its position in Rocket Companies by 58.1% during the 4th quarter. KBC Group NV now owns 6,056 shares of the company’s stock worth $68,000 after buying an additional 2,226 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Rocket Companies by 9.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 27,825 shares of the company’s stock worth $313,000 after acquiring an additional 2,437 shares during the period. Lakeshore Financial Planning Inc. raised its holdings in shares of Rocket Companies by 21.7% during the fourth quarter. Lakeshore Financial Planning Inc. now owns 13,996 shares of the company’s stock worth $158,000 after purchasing an additional 2,500 shares during the last quarter. Truist Financial Corp lifted its position in Rocket Companies by 12.6% during the fourth quarter. Truist Financial Corp now owns 23,373 shares of the company’s stock valued at $263,000 after purchasing an additional 2,621 shares during the period. Finally, Virtu Financial LLC boosted its holdings in Rocket Companies by 22.1% in 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 during the last quarter. Institutional investors and hedge funds own 4.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft raised Rocket Companies from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Wednesday, April 2nd. Wedbush restated an “outperform” rating and issued a $13.00 price objective on shares of Rocket Companies in a research report on Wednesday, April 16th. JPMorgan Chase & Co. dropped their price objective on shares of Rocket Companies from $14.00 to $10.50 and set an “underweight” rating on the stock in a research note on Tuesday, January 14th. 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 note on Tuesday, January 7th. Finally, UBS Group dropped their price target on shares of Rocket Companies from $14.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $14.38.

Rocket Companies Stock Down 1.1 %

RKT stock opened at $12.64 on Friday. Rocket Companies, Inc. has a 52 week low of $10.06 and a 52 week high of $21.38. The company has a quick ratio of 15.47, a current ratio of 15.47 and a debt-to-equity ratio of 1.51. The firm has a 50-day simple moving average of $13.39 and a 200-day simple moving average of $13.31. The stock has a market capitalization of $25.23 billion, a P/E ratio of -79.00 and a beta of 2.35.

Rocket Companies Cuts Dividend

The company also recently disclosed a dividend, which was paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th were paid a dividend of $0.80 per share. The ex-dividend date was Thursday, March 20th. Rocket Companies’s dividend payout ratio (DPR) is currently 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.