Rocket Companies, Inc. (NYSE:RKT) Shares Sold by Brooktree Capital Management

Brooktree Capital Management trimmed its holdings in Rocket Companies, Inc. (NYSE:RKT) by 1.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 110,594 shares of the company’s stock after selling 1,325 shares during the period. Rocket Companies accounts for approximately 0.9% of Brooktree Capital Management’s holdings, making the stock its 19th largest holding. Brooktree Capital Management’s holdings in Rocket Companies were worth $1,245,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D purchased a new stake in Rocket Companies in the third quarter valued at approximately $1,832,000. Victory Capital Management Inc. grew its stake in shares of Rocket Companies by 324.4% during the 3rd quarter. Victory Capital Management Inc. now owns 67,161 shares of the company’s stock valued at $1,289,000 after buying an additional 51,336 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Rocket Companies by 7.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,040,709 shares of the company’s stock worth $19,971,000 after buying an additional 72,308 shares during the last quarter. Cerity Partners LLC raised its position in shares of Rocket Companies by 85.1% in the 3rd quarter. Cerity Partners LLC now owns 31,190 shares of the company’s stock worth $599,000 after buying an additional 14,340 shares during the period. Finally, Kingsview Wealth Management LLC acquired a new position in Rocket Companies in the third quarter valued at $235,000. Hedge funds and other institutional investors own 4.59% of the company’s stock.

Rocket Companies Stock Up 5.7 %

Shares of NYSE RKT opened at $15.71 on Tuesday. The firm has a market cap of $31.37 billion, a price-to-earnings ratio of -98.21 and a beta of 2.39. Rocket Companies, Inc. has a 1 year low of $10.06 and a 1 year high of $21.38. The company has a debt-to-equity ratio of 1.51, a quick ratio of 15.47 and a current ratio of 15.47. The stock’s 50-day simple moving average is $12.80 and its 200-day simple moving average is $14.71.

Rocket Companies Cuts Dividend

The firm also recently announced a dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th will be given a $0.80 dividend. The ex-dividend date of this dividend is Thursday, March 20th. Rocket Companies’s payout ratio is 801.25%.

Analysts Set New Price Targets

Several brokerages have commented on RKT. Morgan Stanley dropped their price target on Rocket Companies from $16.00 to $13.00 and set an “equal weight” rating for the company in a research note on Thursday, December 19th. The Goldman Sachs Group cut their price target on shares of Rocket Companies from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Keefe, Bruyette & Woods boosted their price objective on shares of Rocket Companies from $10.50 to $12.00 and gave the stock an “underperform” rating in a research note on Monday, March 3rd. JPMorgan Chase & Co. cut their target price 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. Finally, UBS Group upgraded shares of Rocket Companies from a “sell” rating to a “neutral” rating and reduced their target price for the company from $12.50 to $11.50 in a report on Friday, January 10th. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $13.83.

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.