Rocket Companies, Inc. (NYSE:RKT) Shares Sold by J. Goldman & Co LP

J. Goldman & Co LP decreased its position in Rocket Companies, Inc. (NYSE:RKT) by 96.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,909 shares of the company’s stock after selling 1,628,951 shares during the period. J. Goldman & Co LP’s holdings in Rocket Companies were worth $753,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in RKT. Vanguard Group Inc. grew its position in Rocket Companies by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 12,520,074 shares of the company’s stock worth $140,976,000 after acquiring an additional 431,054 shares during the period. Boston Partners lifted its stake in Rocket Companies by 29.8% during the fourth quarter. Boston Partners now owns 12,313,780 shares of the company’s stock worth $138,673,000 after purchasing an additional 2,829,292 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Rocket Companies by 2.2% during the fourth quarter. JPMorgan Chase & Co. now owns 8,161,979 shares of the company’s stock worth $91,904,000 after buying an additional 174,978 shares during the period. Wellington Management Group LLP grew its stake in shares of Rocket Companies by 174.5% in the fourth quarter. Wellington Management Group LLP now owns 4,705,177 shares of the company’s stock valued at $52,980,000 after buying an additional 2,990,837 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Rocket Companies by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 2,118,701 shares of the company’s stock valued at $23,865,000 after buying an additional 74,726 shares in the last quarter. Institutional investors and hedge funds own 4.59% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on RKT. UBS Group decreased their target price on Rocket Companies from $14.00 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 16th. JPMorgan Chase & Co. lowered their price objective on shares of Rocket Companies from $14.00 to $10.50 and set an “underweight” rating for the company in a research note on Tuesday, January 14th. Royal Bank of Canada restated a “sector perform” rating and issued a $18.00 price objective on shares of Rocket Companies in a report on Tuesday, April 1st. Wedbush reiterated a “neutral” rating and set a $12.00 target price (down from $13.00) on shares of Rocket Companies in a report on Friday. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Rocket Companies from $14.00 to $15.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Rocket Companies currently has an average rating of “Hold” and an average target price of $14.29.

Rocket Companies Price Performance

Shares of RKT opened at $11.11 on Monday. The firm has a market capitalization of $22.18 billion, a price-to-earnings ratio of -69.44 and a beta of 2.33. The firm’s fifty day simple moving average is $13.19 and its 200-day simple moving average is $13.09. 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.

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

Rocket Companies Cuts Dividend

The firm also recently announced a dividend, which was paid on Thursday, April 3rd. Investors 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 payout ratio is -4,273.33%.

Rocket Companies 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.