Rocket Companies, Inc. (NYSE:RKT) Short Interest Update

Rocket Companies, Inc. (NYSE:RKT) experienced notable growth in short interest during March. As of March 15th, the total short interest reached 30,600,000 shares, marking a 42.8% increase from the previous total of 21,430,000 shares on February 28th. Currently, around 22.8% of the company's stock is reported as sold short. Considering the average trading volume of 4,920,000 shares, the short-interest ratio stands at 6.2 days.

Wall Street Analyst Opinions

Several research firms have provided updates regarding Rocket Companies. UBS Group upgraded Rocket Companies from a "sell" rating to a "neutral" rating, adjusting their price target from $12.50 to $11.50 as reported on January 10th. Meanwhile, Goldman Sachs lowered their price target from $16.00 to $14.00 while maintaining a "neutral" rating in their assessment on January 7th. On January 14th, JPMorgan Chase reduced their target price from $14.00 to $10.50, designating an "underweight" rating. Additionally, Keefe, Bruyette & Woods raised their price target from $10.50 to $12.00 but rated the stock as "underperform" on March 3rd. The consensus among analysts shows four recommending a sell rating, while eight analysts suggest a hold rating. As per MarketBeat.com, the average rating for Rocket Companies is a "Hold" with a consensus price target set at $13.83.

Institutional Investor Activity

Recently, several institutional investors have adjusted their holdings in Rocket Companies. AXQ Capital LP increased its stake by 125.7% during the last quarter, now owning 146,691 shares valued at $1,652,000 after acquiring an additional 81,695 shares. Similarly, Quantbot Technologies LP raised their investment by 76.9%, owning 270,761 shares worth $3,049,000 after adding 117,728 shares. Jones Financial Companies Lllp also boosted their share count by 131.7%, now holding 36,427 shares valued at $410,000. Charles Schwab Investment Management Inc. expanded its stake by 11.8%, owning 1,163,243 shares valued at $13,098,000 after acquiring 122,534 shares. Additionally, XTX Topco Ltd entered a new position during the third quarter worth $1,486,000. Institutional investors and hedge funds hold about 4.59% of Rocket Companies' stock.

Rocket Companies Stock Performance

In trading on Friday, shares of NYSE:RKT fell by $0.13, closing at $13.03. The trading volume reached 4,391,618 shares compared to an average volume of 3,541,371. The company has a market capitalization of $26.00 billion, a PE ratio of -81.41, and a beta of 2.39. The current ratio and quick ratio were both reported at 15.47, with a debt-to-equity ratio of 1.51. The stock has fluctuated between a 12-month low of $10.06 and a high of $21.38.

Dividend Update

Rocket Companies has announced a dividend, which is scheduled for payment on April 3rd. Shareholders on record as of March 20th will receive a $0.80 dividend. The ex-dividend date is also March 20th. The company’s current dividend payout ratio stands at a substantial 801.25%.

Company Overview

Rocket Companies, Inc. is a financial technology holding company that provides mortgage lending services, title and settlement services, and various financial technology services across the United States and Canada. Its operations are divided into two segments: Direct to Consumer and Partner Network. Key offerings include Rocket Mortgage, which is a direct mortgage lender; Amrock, which offers title insurance and property valuation; Rocket Homes, a comprehensive home search platform and real estate referral network; and Rocket Loans, an online personal loans service.

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