FORA Capital LLC Decreases Position in Rocket Companies, Inc. (NYSE:RKT)

FORA Capital LLC lessened its stake in Rocket Companies, Inc. (NYSE:RKT) by 63.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,802 shares of the company’s stock after selling 42,819 shares during the quarter. FORA Capital LLC’s holdings in Rocket Companies were worth $279,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Itau Unibanco Holding S.A. bought a new stake in shares of Rocket Companies in the fourth quarter valued at $47,000. KBC Group NV raised its stake in Rocket Companies by 58.1% in 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 during the period. Sterling Capital Management LLC raised its stake in Rocket Companies by 57.2% in the 4th 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 purchased a new stake in Rocket Companies during the fourth quarter valued at about $99,000. Finally, Garner Asset Management Corp bought a new position in Rocket Companies during the fourth quarter worth about $118,000. Hedge funds and other institutional investors own 4.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Keefe, Bruyette & Woods boosted their price target on shares of Rocket Companies from $14.00 to $15.00 and gave the company a “market perform” rating in a research report on Tuesday, April 8th. Barclays raised shares of Rocket Companies from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $10.00 to $14.00 in a report on Tuesday, April 8th. JPMorgan Chase & Co. cut their price target on Rocket Companies from $14.00 to $10.50 and set an “underweight” rating for the company in a report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft upgraded Rocket Companies from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Wednesday, April 2nd. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $18.00 price objective on shares of Rocket Companies in a report on Tuesday, April 1st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $14.29.

Rocket Companies Price Performance

Shares of NYSE RKT opened at $11.11 on Friday. The stock’s 50-day simple moving average is $13.19 and its two-hundred day simple moving average is $13.12. Rocket Companies, Inc. has a twelve month low of $10.06 and a twelve month high of $21.38. The firm has a market capitalization of $22.18 billion, a P/E ratio of -69.44 and a beta of 2.33. 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 (NYSE:RKT) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. Rocket Companies had a negative net margin of 0.38% and a positive return on equity of 2.86%. The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the prior year, the business earned $0.04 earnings per share. Rocket Companies’s revenue for the quarter was down 10.8% compared to the same quarter last year. As a group, equities analysts anticipate that Rocket Companies, Inc. will post 0.15 EPS for the current fiscal year.

Rocket Companies Cuts Dividend

The business also recently disclosed a dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Thursday, March 20th. Rocket Companies’s dividend payout ratio (DPR) is currently -4,273.33%.

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.