Virtu Financial LLC Buys 12,287 Shares of Rocket Companies, Inc. (NYSE:RKT)

Virtu Financial LLC grew its position in shares of Rocket Companies, Inc. (NYSE:RKT) by 76.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,422 shares of the company’s stock after acquiring an additional 12,287 shares during the quarter. Virtu Financial LLC’s holdings in Rocket Companies were worth $320,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in RKT. Jones Financial Companies Lllp boosted its holdings in Rocket Companies by 131.7% during the fourth quarter. Jones Financial Companies Lllp now owns 36,427 shares of the company’s stock worth $410,000 after purchasing an additional 20,706 shares during the last quarter. Quantbot Technologies LP lifted its position in shares of Rocket Companies by 76.9% during the 4th quarter. Quantbot Technologies LP now owns 270,761 shares of the company’s stock worth $3,049,000 after buying an additional 117,728 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Rocket Companies by 11.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,163,243 shares of the company’s stock worth $13,098,000 after buying an additional 122,534 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Rocket Companies in the 3rd quarter worth approximately $1,486,000. Finally, Quadrature Capital Ltd bought a new position in shares of Rocket Companies in the third quarter valued at approximately $1,071,000. Institutional investors own 4.59% of the company’s stock.

Rocket Companies Stock Performance

Shares of Rocket Companies stock opened at $13.14 on Friday. The stock has a market cap of $26.22 billion, a price-to-earnings ratio of -82.09 and a beta of 2.39. 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 1 year low of $10.06 and a 1 year high of $21.38. The firm’s 50-day moving average is $13.31 and its 200 day moving average is $14.47.

Rocket Companies Cuts Dividend

The business also recently announced a dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th will be given a $0.80 dividend. The ex-dividend date is Thursday, March 20th. Rocket Companies’s dividend payout ratio (DPR) is presently 801.25%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. JPMorgan Chase & Co. cut their price objective on Rocket Companies from $14.00 to $10.50 and set an “underweight” rating on the stock in a research report on Tuesday, January 14th. Morgan Stanley cut their price target on shares of Rocket Companies from $16.00 to $13.00 and set an “equal weight” rating on the stock in a report on Thursday, December 19th. Wedbush restated a “neutral” rating and set a $13.00 price objective on shares of Rocket Companies in a report on Wednesday, March 5th. Keefe, Bruyette & Woods lifted their price objective on shares of Rocket Companies from $10.50 to $12.00 and gave the stock an “underperform” rating in a research report on Monday, March 3rd. Finally, 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. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $13.83.

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.