BNP Paribas Financial Markets Makes New $11.04 Million Investment in Rocket Companies, Inc. (NYSE:RKT)

BNP Paribas Financial Markets purchased a new stake in Rocket Companies, Inc. (NYSE:RKT) in the 4th quarter, Holdings Channel.com reports. The firm purchased 980,229 shares of the company’s stock, valued at approximately $11,037,000.

Other institutional investors have also modified their holdings of the company. Itau Unibanco Holding S.A. acquired a new position in Rocket Companies in the fourth quarter valued at approximately $47,000. KBC Group NV lifted its holdings in shares of Rocket Companies by 58.1% in the 4th quarter. KBC Group NV now owns 6,056 shares of the company’s stock worth $68,000 after purchasing an additional 2,226 shares during the last quarter. Sterling Capital Management LLC boosted its holdings in shares of Rocket Companies by 57.2% during the fourth quarter. Sterling Capital Management LLC now owns 8,295 shares of the company’s stock valued at $93,000 after acquiring an additional 3,019 shares during the period. Caisse Des Depots ET Consignations acquired a new stake in shares of Rocket Companies in the 4th quarter worth about $99,000. Finally, Garner Asset Management Corp bought a new stake in Rocket Companies in the 4th quarter valued at about $118,000. Institutional investors own 4.59% of the company’s stock.

Rocket Companies Trading Down 4.6 %

Rocket Companies stock opened at $11.11 on Friday. The firm has a market cap of $22.18 billion, a price-to-earnings ratio of -69.44 and a beta of 2.33. Rocket Companies, Inc. has a 1 year low of $10.06 and a 1 year high of $21.38. The firm’s 50 day moving average price is $13.19 and its two-hundred day moving average price is $13.12. The company has a debt-to-equity ratio of 1.51, a quick ratio of 15.47 and a current ratio of 15.47.

Rocket Companies (NYSE:RKT) last announced its earnings results on Thursday, May 8th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.04. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.26 billion. Rocket Companies had a positive return on equity of 2.86% and a negative net margin of 0.38%. Rocket Companies’s revenue for the quarter was down 10.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.04 earnings per share. On average, research analysts predict that Rocket Companies, Inc. will post 0.15 EPS for the current fiscal year.

Rocket Companies Cuts Dividend

The company also recently declared a dividend, which was paid on Thursday, April 3rd. Investors of record on Thursday, March 20th were given a $0.80 dividend. The ex-dividend date was Thursday, March 20th. Rocket Companies’s dividend payout ratio (DPR) is presently -4,273.33%.

Analysts Set New Price Targets

Several research analysts have commented on RKT shares. Wedbush restated 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. Barclays raised Rocket Companies from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $10.00 to $14.00 in a report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft raised Rocket Companies from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research note on Wednesday, April 2nd. JPMorgan Chase & Co. decreased their price target on 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, UBS Group cut their price objective on shares of Rocket Companies from $14.00 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $14.29.

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.