EMG Holdings L.P. Increases Stock Position in Rocket Companies, Inc. (NYSE:RKT)

EMG Holdings L.P. grew its stake in Rocket Companies, Inc. (NYSE:RKT) by 170.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 220,748 shares of the company’s stock after buying an additional 139,252 shares during the period. Rocket Companies makes up about 1.5% of EMG Holdings L.P.’s holdings, making the stock its 14th biggest holding. EMG Holdings L.P.’s holdings in Rocket Companies were worth $2,486,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. AXQ Capital LP grew its position in Rocket Companies by 125.7% in the fourth quarter. AXQ Capital LP now owns 146,691 shares of the company’s stock worth $1,652,000 after acquiring an additional 81,695 shares in the last quarter. Quantbot Technologies LP boosted its holdings in shares of Rocket Companies by 76.9% in the 4th quarter. Quantbot Technologies LP now owns 270,761 shares of the company’s stock worth $3,049,000 after purchasing an additional 117,728 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Rocket Companies by 131.7% during the 4th quarter. Jones Financial Companies Lllp now owns 36,427 shares of the company’s stock valued at $410,000 after purchasing an additional 20,706 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings 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 valued at $13,098,000 after buying an additional 122,534 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in Rocket Companies in the 3rd quarter worth approximately $1,486,000. Institutional investors own 4.59% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on RKT. JPMorgan Chase & Co. decreased their price target on shares of Rocket Companies from $14.00 to $10.50 and set an “underweight” rating on the stock in a research note on Tuesday, January 14th. UBS Group raised shares of Rocket Companies from a “sell” rating to a “neutral” rating and lowered their price target for the stock from $12.50 to $11.50 in a research note on Friday, January 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $18.00 price objective on shares of Rocket Companies in a research note on Tuesday. Keefe, Bruyette & Woods boosted their target price on Rocket Companies from $10.50 to $12.00 and gave the company an “underperform” rating in a research note on Monday, March 3rd. Finally, Wedbush restated a “neutral” rating and set a $13.00 price target on shares of Rocket Companies in a research report on Wednesday, March 5th. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $13.83.

Rocket Companies Price Performance

Shares of Rocket Companies stock opened at $12.57 on Wednesday. The business has a 50 day moving average of $13.35 and a 200 day moving average of $14.27. Rocket Companies, Inc. has a 52 week low of $10.06 and a 52 week high of $21.38. The company has a market cap of $25.08 billion, a PE ratio of -78.53 and a beta of 2.39. 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 Cuts Dividend

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