Atlas Capital Advisors Inc. Cuts Stock Holdings in Rocket Companies, Inc. (NYSE:RKT)

Atlas Capital Advisors Inc. reduced its position in Rocket Companies, Inc. (NYSE:RKT) by 76.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,791 shares of the company’s stock after selling 12,251 shares during the period. Atlas Capital Advisors Inc.’s holdings in Rocket Companies were worth $43,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. KBC Group NV raised its stake in shares of Rocket Companies by 58.1% in 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. Caisse Des Depots ET Consignations bought a new stake in Rocket Companies in the 4th quarter worth about $99,000. Huntington National Bank raised its position in Rocket Companies by 548,750.0% in the 4th quarter. Huntington National Bank now owns 10,977 shares of the company’s stock worth $124,000 after buying an additional 10,975 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Rocket Companies during the 4th quarter valued at about $135,000. Finally, Daiwa Securities Group Inc. purchased a new position in shares of Rocket Companies during the fourth quarter valued at approximately $136,000. 4.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Keefe, Bruyette & Woods raised shares of Rocket Companies from an “underperform” rating to a “market perform” rating and lifted their target price for the stock from $12.00 to $14.00 in a research report on Wednesday. Morgan Stanley cut their price objective 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. Wedbush reissued a “neutral” rating and issued a $13.00 target price on shares of Rocket Companies in a report on Wednesday, March 5th. The Goldman Sachs Group cut their price target on Rocket Companies from $16.00 to $14.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Finally, JPMorgan Chase & Co. lowered their price objective 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. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $14.08.

Rocket Companies Price Performance

Shares of NYSE:RKT opened at $15.38 on Friday. The company has a market capitalization of $30.70 billion, a P/E ratio of -96.13 and a beta of 2.35. Rocket Companies, Inc. has a 1-year low of $10.06 and a 1-year high of $21.38. The firm’s 50 day simple moving average is $13.49 and its two-hundred day simple moving average is $14.18. 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 Cuts Dividend

The company also recently announced a dividend, which was paid on Thursday, April 3rd. Investors of record on Thursday, March 20th were paid a dividend of $0.80 per share. The ex-dividend date was Thursday, March 20th. Rocket Companies’s dividend payout ratio (DPR) is 801.25%.

Rocket Companies 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.