AXQ Capital LP Acquires 81,695 Shares of Rocket Companies, Inc. (NYSE:RKT)

AXQ Capital LP increased its holdings in Rocket Companies, Inc. (NYSE:RKT) by 125.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 146,691 shares of the company’s stock after buying an additional 81,695 shares during the period. Rocket Companies makes up approximately 0.7% of AXQ Capital LP’s holdings, making the stock its 9th largest holding. AXQ Capital LP’s holdings in Rocket Companies were worth $1,652,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. KBC Group NV increased its position in Rocket Companies by 58.1% in the 4th quarter. KBC Group NV now owns 6,056 shares of the company’s stock valued at $68,000 after acquiring an additional 2,226 shares during the period. SBI Securities Co. Ltd. acquired a new position in Rocket Companies in the 4th quarter valued at about $135,000. Daiwa Securities Group Inc. acquired a new position in Rocket Companies in the 4th quarter valued at about $136,000. Kingsview Wealth Management LLC acquired a new position in Rocket Companies in the 3rd quarter valued at about $235,000. Finally, Townsquare Capital LLC acquired a new position in Rocket Companies in the 3rd quarter valued at about $238,000. 4.59% of the stock is owned by institutional investors and hedge funds.

Rocket Companies Stock Performance

Rocket Companies stock opened at $14.10 on Friday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 15.47 and a current ratio of 15.47. The stock has a fifty day moving average of $13.14 and a two-hundred day moving average of $14.64. The company has a market capitalization of $28.14 billion, a price-to-earnings ratio of -88.09 and a beta of 2.39. Rocket Companies, Inc. has a fifty-two week low of $10.06 and a fifty-two week high of $21.38.

Rocket Companies Cuts Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on RKT shares. The Goldman Sachs Group dropped their price target on Rocket Companies from $16.00 to $14.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Morgan Stanley reduced their target price on Rocket Companies from $16.00 to $13.00 and set an “equal weight” rating for the company in a report on Thursday, December 19th. JPMorgan Chase & Co. lowered 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. Keefe, Bruyette & Woods increased their target price on shares of Rocket Companies from $10.50 to $12.00 and gave the company an “underperform” rating in a report on Monday, March 3rd. Finally, UBS Group upgraded shares of Rocket Companies from a “sell” rating to a “neutral” rating and reduced their price target for the company from $12.50 to $11.50 in a research report on Friday, January 10th. 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.com, the company presently has an average rating of “Hold” and an average target price of $13.83.

About Rocket Companies

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.