Numerai GP LLC Buys New Position in Rocket Companies, Inc. (NYSE:RKT)

Numerai GP LLC bought a new stake in shares of Rocket Companies, Inc. (NYSE:RKT) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 20,596 shares of the company’s stock, valued at approximately $232,000.

Other large investors also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. bought a new position in shares of Rocket Companies in the fourth quarter worth approximately $47,000. KBC Group NV lifted its holdings in shares of Rocket Companies by 58.1% in the fourth quarter. KBC Group NV now owns 6,056 shares of the company’s stock worth $68,000 after buying an additional 2,226 shares in the last quarter. Sterling Capital Management LLC lifted its holdings in shares of Rocket Companies by 57.2% in the fourth quarter. Sterling Capital Management LLC now owns 8,295 shares of the company’s stock worth $93,000 after buying an additional 3,019 shares in the last quarter. Caisse Des Depots ET Consignations purchased a new position in shares of Rocket Companies in the fourth quarter worth $99,000. Finally, Garner Asset Management Corp purchased a new position in shares of Rocket Companies in the fourth quarter worth $118,000. 4.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on RKT shares. UBS Group lowered their target price on shares of Rocket Companies from $14.00 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, April 16th. Deutsche Bank Aktiengesellschaft raised shares of 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. Keefe, Bruyette & Woods lowered their target price on shares of Rocket Companies from $15.00 to $13.00 and set a “market perform” rating on the stock in a report on Monday, May 12th. Wedbush reissued a “neutral” rating and issued a $12.00 target price (down previously from $13.00) on shares of Rocket Companies in a report on Friday, May 9th. Finally, Barclays raised shares of Rocket Companies from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $10.00 to $14.00 in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $14.13.

Rocket Companies Price Performance

Rocket Companies stock opened at $13.21 on Friday. The company has a market cap of $26.36 billion, a price-to-earnings ratio of -82.53 and a beta of 2.33. The firm’s fifty day moving average is $13.01 and its 200 day moving average is $13.01. The company has a quick ratio of 15.47, a current ratio of 15.47 and a debt-to-equity ratio of 1.51. Rocket Companies, Inc. has a 52-week low of $10.06 and a 52-week high of $21.38.

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

Rocket Companies Cuts Dividend

The company also recently announced a dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th were paid a $0.80 dividend. The ex-dividend date was Thursday, March 20th. Rocket Companies’s dividend payout ratio is currently -4,273.33%.

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.