FORA Capital LLC Sells 42,819 Shares of Rocket Companies, Inc. (NYSE:RKT)

FORA Capital LLC trimmed its stake in shares of Rocket Companies, Inc. (NYSE:RKT) by 63.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP grew its position in Rocket Companies by 174.5% during the 4th quarter. Wellington Management Group LLP now owns 4,705,177 shares of the company’s stock worth $52,980,000 after acquiring an additional 2,990,837 shares during the last quarter. Boston Partners boosted its stake in shares of Rocket Companies by 29.8% during the fourth quarter. Boston Partners now owns 12,313,780 shares of the company’s stock valued at $138,673,000 after purchasing an additional 2,829,292 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in shares of Rocket Companies during the fourth quarter worth about $11,037,000. Barclays PLC increased its stake in shares of Rocket Companies by 216.1% in the fourth quarter. Barclays PLC now owns 753,345 shares of the company’s stock valued at $8,483,000 after buying an additional 515,022 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Rocket Companies by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 12,520,074 shares of the company’s stock valued at $140,976,000 after buying an additional 431,054 shares during the last quarter. Institutional investors own 4.59% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Rocket Companies from $14.00 to $15.00 and gave the stock a “market perform” rating in a report on Tuesday, April 8th. JPMorgan Chase & Co. decreased their price objective 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 raised Rocket Companies from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Wednesday, April 2nd. Barclays upgraded Rocket Companies from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $10.00 to $14.00 in a research report on Tuesday, April 8th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $18.00 price target on shares of Rocket Companies in a research report on Tuesday, April 1st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $14.29.

Rocket Companies Stock Performance

Shares of Rocket Companies stock opened at $11.11 on Friday. The business has a 50-day simple moving average of $13.19 and a 200 day simple moving average of $13.12. Rocket Companies, Inc. has a one year low of $10.06 and a one year high of $21.38. The company has a debt-to-equity ratio of 1.51, a current ratio of 15.47 and a quick ratio of 15.47. The firm has a market capitalization of $22.18 billion, a price-to-earnings ratio of -69.44 and a beta of 2.33.

Rocket Companies (NYSE:RKT) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.04 EPS for the quarter, meeting the consensus estimate of $0.04. Rocket Companies had a positive return on equity of 2.86% and a negative net margin of 0.38%. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the previous year, the company posted $0.04 earnings per share. The company’s quarterly revenue was down 10.8% on a year-over-year basis. On average, research analysts anticipate that Rocket Companies, Inc. will post 0.15 earnings per share for the current fiscal year.

Rocket Companies Cuts Dividend

The business also recently declared 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 -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.