Farringdon Capital Ltd. Purchases New Shares in Rocket Companies, Inc. (NYSE:RKT)

Farringdon Capital Ltd. acquired a new stake in shares of Rocket Companies, Inc. (NYSE:RKT) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 28,526 shares of the company’s stock, valued at approximately $321,000.

A number of other hedge funds have also recently bought and sold shares of the company. KBC Group NV boosted its holdings in Rocket Companies by 58.1% during the fourth quarter. KBC Group NV now owns 6,056 shares of the company’s stock worth $68,000 after purchasing an additional 2,226 shares during the last quarter. Sterling Capital Management LLC boosted its stake in shares of Rocket Companies by 57.2% in the 4th 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 during the last quarter. Caisse Des Depots ET Consignations bought a new position in shares of Rocket Companies in the fourth quarter valued at approximately $99,000. Garner Asset Management Corp purchased a new stake in shares of Rocket Companies during the fourth quarter valued at approximately $118,000. Finally, Huntington National Bank lifted its holdings in Rocket Companies by 548,750.0% during the fourth quarter. Huntington National Bank now owns 10,977 shares of the company’s stock worth $124,000 after acquiring an additional 10,975 shares during the period. 4.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RKT has been the subject of a number of recent analyst reports. Barclays upgraded Rocket Companies from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $10.00 to $14.00 in a research note on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft upgraded shares of Rocket Companies from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Wednesday, April 2nd. UBS Group dropped their target price on shares of Rocket Companies from $14.00 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday. The Goldman Sachs Group reduced their target price on shares of Rocket Companies from $16.00 to $14.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Finally, 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 report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Rocket Companies currently has a consensus rating of “Hold” and an average price target of $14.38.

Rocket Companies Stock Performance

Rocket Companies stock opened at $12.08 on Friday. The firm’s 50 day simple moving average is $13.48 and its 200 day simple moving average is $13.71. 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, Inc. has a 1-year low of $10.06 and a 1-year high of $21.38. The firm has a market capitalization of $24.11 billion, a PE ratio of -75.49 and a beta of 2.35.

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 given a dividend of $0.80 per share. The ex-dividend date of this dividend was 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.