Proficio Capital Partners LLC Takes $154,000 Position in Rocket Companies, Inc. (NYSE:RKT)

Proficio Capital Partners LLC purchased a new position in Rocket Companies, Inc. (NYSE:RKT) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,636 shares of the company’s stock, valued at approximately $154,000.

Other large investors also recently added to or reduced their stakes in the company. State Street Corp increased its position in shares of Rocket Companies by 44.7% during the 3rd quarter. State Street Corp now owns 4,108,189 shares of the company’s stock valued at $78,836,000 after purchasing an additional 1,269,795 shares during the last quarter. Tidal Investments LLC boosted its stake in Rocket Companies by 804.3% in the 3rd quarter. Tidal Investments LLC now owns 315,764 shares of the company’s stock worth $6,060,000 after purchasing an additional 280,847 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Rocket Companies in the 3rd quarter worth $3,655,000. Lincoln Capital Corp bought a new position in Rocket Companies during the fourth quarter valued at approximately $1,831,000. Finally, National Bank of Canada FI grew its stake in shares of Rocket Companies by 6,932.4% during the 3rd quarter. National Bank of Canada FI now owns 145,922 shares of the company’s stock valued at $2,800,000 after purchasing an additional 143,847 shares during the period. Institutional investors own 4.59% of the company’s stock.

Rocket Companies Stock Up 8.4 %

Shares of NYSE RKT opened at $14.29 on Thursday. 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, Inc. has a 52-week low of $10.06 and a 52-week high of $21.38. The firm has a market cap of $28.52 billion, a price-to-earnings ratio of -89.28 and a beta of 2.39. The company’s 50-day simple moving average is $12.55 and its 200-day simple moving average is $14.85.

Rocket Companies Cuts Dividend

The firm 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 of this dividend is Thursday, March 20th. Rocket Companies’s payout ratio is 801.25%.

Analyst Ratings Changes

Several equities analysts have weighed in on RKT shares. Piper Sandler lowered their price target on shares of Rocket Companies from $17.00 to $16.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Bank of America boosted their price objective on Rocket Companies from $14.00 to $15.00 and gave the company an “underperform” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. lowered their price objective on shares of Rocket Companies from $14.00 to $10.50 and set an “underweight” rating for the company in a research note on Tuesday, January 14th. Wedbush restated a “neutral” rating and issued a $13.00 price target on shares of Rocket Companies in a report on Wednesday, March 5th. Finally, Morgan Stanley lowered their price objective on shares of Rocket Companies from $16.00 to $13.00 and set an “equal weight” rating for the company in a research note on Thursday, December 19th. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target 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.