Quantbot Technologies LP Has $3.05 Million Stock Holdings in Rocket Companies, Inc. (NYSE:RKT)

Quantbot Technologies LP increased its holdings in shares of Rocket Companies, Inc. (NYSE:RKT) by 76.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 270,761 shares of the company’s stock after acquiring an additional 117,728 shares during the quarter. Quantbot Technologies LP’s holdings in Rocket Companies were worth $3,049,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted its position in Rocket Companies by 131.7% during the 4th quarter. Jones Financial Companies Lllp now owns 36,427 shares of the company’s stock worth $410,000 after buying an additional 20,706 shares during the period. Victory Capital Management Inc. lifted its position in shares of Rocket Companies by 324.4% in the 3rd quarter. Victory Capital Management Inc. now owns 67,161 shares of the company’s stock worth $1,289,000 after purchasing an additional 51,336 shares during the period. XTX Topco Ltd acquired a new position in shares of Rocket Companies in the 3rd quarter worth approximately $1,486,000. Quadrature Capital Ltd acquired a new position in shares of Rocket Companies in the 3rd quarter worth approximately $1,071,000. Finally, Bruni J V & Co. Co. lifted its position in shares of Rocket Companies by 21.2% in the 4th quarter. Bruni J V & Co. Co. now owns 1,860,060 shares of the company’s stock worth $20,944,000 after purchasing an additional 324,976 shares during the period. 4.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RKT has been the topic of a number of recent analyst reports. UBS Group upgraded shares of Rocket Companies from a “sell” rating to a “neutral” rating and dropped their price target for the stock from $12.50 to $11.50 in a research report on Friday, January 10th. Keefe, Bruyette & Woods boosted their price target on shares of Rocket Companies from $10.50 to $12.00 and gave the stock an “underperform” rating in a research report on Monday, March 3rd. Wedbush restated a “neutral” rating and issued a $13.00 price target on shares of Rocket Companies in a research report on Wednesday, March 5th. JPMorgan Chase & Co. dropped their price target on shares of Rocket Companies from $14.00 to $10.50 and set an “underweight” rating on the stock in a research report on Tuesday, January 14th. Finally, Morgan Stanley dropped their price target on shares of Rocket Companies from $16.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Thursday, December 19th. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $13.83.

Rocket Companies Price Performance

NYSE RKT opened at $14.10 on Friday. The company has a market cap of $28.14 billion, a PE ratio of -88.09 and a beta of 2.39. Rocket Companies, Inc. has a 52 week low of $10.06 and a 52 week high of $21.38. The company has a quick ratio of 15.47, a current ratio of 15.47 and a debt-to-equity ratio of 1.51. The firm’s 50-day simple moving average is $13.14 and its two-hundred day simple moving average is $14.61.

Rocket Companies Cuts Dividend

The company also recently declared a dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th will be issued a $0.80 dividend. The ex-dividend date is Thursday, March 20th. Rocket Companies’s payout ratio is 801.25%.

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.