J. Goldman & Co LP Trims Stake in Rocket Companies, Inc. (NYSE:RKT)

J. Goldman & Co LP lessened its position in shares of Rocket Companies, Inc. (NYSE:RKT) by 96.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 66,909 shares of the company’s stock after selling 1,628,951 shares during the quarter. J. Goldman & Co LP’s holdings in Rocket Companies were worth $753,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. acquired a new stake in shares of Rocket Companies in the fourth quarter valued at approximately $47,000. KBC Group NV boosted its stake 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 purchasing an additional 2,226 shares during the period. Sterling Capital Management LLC grew its position in Rocket Companies by 57.2% during the 4th quarter. Sterling Capital Management LLC now owns 8,295 shares of the company’s stock worth $93,000 after purchasing an additional 3,019 shares during the last quarter. Caisse Des Depots ET Consignations acquired a new position in Rocket Companies in the fourth quarter valued at $99,000. Finally, Garner Asset Management Corp acquired a new position in Rocket Companies in the fourth quarter valued at $118,000. Institutional investors and hedge funds own 4.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on RKT shares. UBS Group decreased their target price on shares of Rocket Companies from $14.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, April 16th. Barclays upgraded Rocket Companies from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $10.00 to $14.00 in a research note on Tuesday, April 8th. Wedbush restated a “neutral” rating and set a $12.00 price target (down previously from $13.00) on shares of Rocket Companies in a research note on Friday. JPMorgan Chase & Co. cut their price target on shares of Rocket Companies from $14.00 to $10.50 and set an “underweight” rating for the company in a report on Tuesday, January 14th. Finally, Deutsche Bank Aktiengesellschaft upgraded Rocket Companies from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Wednesday, April 2nd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Rocket Companies presently has a consensus rating of “Hold” and a consensus price target of $14.29.

Rocket Companies Trading Down 4.6%

Shares of RKT opened at $11.11 on Monday. Rocket Companies, Inc. has a twelve month low of $10.06 and a twelve month high of $21.38. The company has a current ratio of 15.47, a quick ratio of 15.47 and a debt-to-equity ratio of 1.51. The firm has a market capitalization of $22.18 billion, a P/E ratio of -69.44 and a beta of 2.33. The firm’s 50-day moving average is $13.19 and its two-hundred day moving average is $13.09.

Rocket Companies (NYSE:RKT) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. The business 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%. The company’s quarterly revenue was down 10.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.04 EPS. On average, research analysts predict that Rocket Companies, Inc. will post 0.15 earnings per share for the current fiscal year.

Rocket Companies Cuts Dividend

The company also recently announced a dividend, which was paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th were given a dividend of $0.80 per share. The ex-dividend date was Thursday, March 20th. Rocket Companies’s payout ratio is -4,273.33%.

About Rocket Companies

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.