Bayesian Capital Management LP Takes Position in Rocket Companies, Inc. (NYSE:RKT)

Bayesian Capital Management LP bought a new position in shares of Rocket Companies, Inc. (NYSE:RKT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,100 shares of the company’s stock, valued at approximately $125,000.

Several other hedge funds have also recently bought and sold shares of the business. Itau Unibanco Holding S.A. acquired a new stake in shares of Rocket Companies in the fourth quarter worth $47,000. KBC Group NV raised its position in Rocket Companies by 58.1% in the fourth quarter. KBC Group NV now owns 6,056 shares of the company’s stock valued at $68,000 after purchasing an additional 2,226 shares during the period. Sterling Capital Management LLC lifted its stake in shares of Rocket Companies by 57.2% during the fourth 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 in the last quarter. Caisse Des Depots ET Consignations purchased a new stake in shares of Rocket Companies in the fourth quarter worth about $99,000. Finally, Garner Asset Management Corp acquired a new stake in shares of Rocket Companies in the fourth quarter valued at about $118,000. Hedge funds and other institutional investors own 4.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on RKT shares. Barclays raised shares of Rocket Companies from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $10.00 to $14.00 in a research report on Tuesday, April 8th. Keefe, Bruyette & Woods lifted 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. Deutsche Bank Aktiengesellschaft raised shares of Rocket Companies from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Wednesday, April 2nd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $18.00 target price on shares of Rocket Companies in a research report on Tuesday, April 1st. Finally, UBS Group reduced their price target on Rocket Companies from $14.00 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Rocket Companies currently has a consensus rating of “Hold” and an average target price of $14.38.

Rocket Companies Stock Performance

Shares of RKT opened at $11.66 on Friday. The stock has a market capitalization of $23.27 billion, a PE ratio of -72.84 and a beta of 2.33. The business’s fifty day moving average price is $13.24 and its 200 day moving average price is $13.18. The company has a debt-to-equity ratio of 1.51, a current ratio of 15.47 and a quick ratio of 15.47. Rocket Companies, Inc. has a 12-month low of $10.06 and a 12-month high of $21.38.

Rocket Companies Cuts Dividend

The firm also recently declared a dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th were issued a $0.80 dividend. The ex-dividend date of this dividend was Thursday, March 20th. Rocket Companies’s dividend payout ratio (DPR) is presently 801.25%.

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.