Rocket Companies, Inc. (NYSE:RKT) Shares Bought by Aristeia Capital L.L.C.

Aristeia Capital L.L.C. grew its position in Rocket Companies, Inc. (NYSE:RKT) by 59.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,062 shares of the company’s stock after acquiring an additional 12,310 shares during the quarter. Aristeia Capital L.L.C.’s holdings in Rocket Companies were worth $372,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Barclays PLC raised its stake in Rocket Companies by 136.2% during the 3rd quarter. Barclays PLC now owns 238,323 shares of the company’s stock valued at $4,573,000 after acquiring an additional 137,441 shares during the last quarter. Virtu Financial LLC lifted its holdings in shares of Rocket Companies by 22.1% during the third quarter. Virtu Financial LLC now owns 16,135 shares of the company’s stock worth $310,000 after purchasing an additional 2,925 shares during the period. Connective Portfolio Management LLC purchased a new position in Rocket Companies in the 4th quarter valued at $428,000. Wealthcare Advisory Partners LLC increased its stake in Rocket Companies by 75.1% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 28,508 shares of the company’s stock valued at $321,000 after buying an additional 12,230 shares during the period. Finally, Missouri Trust & Investment Co raised its position in Rocket Companies by 21.5% during the 4th quarter. Missouri Trust & Investment Co now owns 86,295 shares of the company’s stock worth $972,000 after buying an additional 15,260 shares during the last quarter. 4.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Rocket Companies from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Wednesday, April 2nd. JPMorgan Chase & Co. cut their target price on Rocket Companies from $14.00 to $10.50 and set an “underweight” rating for the company in a research note on Tuesday, January 14th. The Goldman Sachs Group decreased their price target on Rocket Companies from $16.00 to $14.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Wedbush reiterated an “outperform” rating and issued a $13.00 price objective on shares of Rocket Companies in a research report on Wednesday, April 16th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $18.00 target price on shares of Rocket Companies in a research report on Tuesday, April 1st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $14.38.

Rocket Companies Stock Performance

Shares of RKT opened at $12.64 on Friday. The company has a 50-day moving average of $13.39 and a two-hundred day moving average of $13.31. The stock has a market cap of $25.23 billion, a P/E ratio of -79.00 and a beta of 2.35. Rocket Companies, Inc. has a 12-month low of $10.06 and a 12-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 Cuts Dividend

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