Insider Buying: Rocket Companies, Inc. (NYSE:RKT) Director Buys 3,200 Shares of Stock

Rocket Companies, Inc. (NYSE:RKT – Get Rating) Director Matthew Rizik acquired 3,200 shares of the company’s stock in a transaction that occurred on Tuesday, June 21st. The stock was bought at an average cost of $6.73 per share, with a total value of $21,536.00. Following the purchase, the director now owns 211,802 shares in the company, valued at $1,425,427.46. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Matthew Rizik also recently made the following trade(s):

• On Friday, June 17th, Matthew Rizik acquired 3,400 shares of Rocket Companies stock. The stock was bought at an average cost of $6.46 per share, with a total value of $21,964.00.
• On Wednesday, June 15th, Matthew Rizik acquired 3,100 shares of Rocket Companies stock. The stock was bought at an average cost of $6.98 per share, with a total value of $21,638.00.
• On Monday, June 13th, Matthew Rizik acquired 2,900 shares of Rocket Companies stock. The stock was bought at an average cost of $7.35 per share, with a total value of $21,315.00.

NYSE:RKT traded up $0.18 during trading hours on Wednesday, reaching $6.96. The company had a trading volume of 4,524,710 shares, compared to its average volume of 5,099,824. The company has a quick ratio of 13.54, a current ratio of 13.54 and a debt-to-equity ratio of 1.40. The firm has a market cap of $13.71 billion, a price-to-earnings ratio of 4.19, a P/E/G ratio of 2.41 and a beta of 1.38. The business’s 50-day simple moving average is $8.53 and its two-hundred day simple moving average is $11.33. Rocket Companies, Inc. has a twelve month low of $6.27 and a twelve month high of $20.84.

Rocket Companies (NYSE:RKT – Get Rating) last posted its quarterly earnings results on Tuesday, May 10th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.04). The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $2.24 billion. Rocket Companies had a return on equity of 31.45% and a net margin of 2.16%. The company’s revenue for the quarter was down 52.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.55 earnings per share. As a group, equities analysts predict that Rocket Companies, Inc. will post 0.26 earnings per share for the current year.

Several research firms have recently issued reports on RKT. Morgan Stanley dropped their price target on shares of Rocket Companies from $12.00 to $11.00 and set an “equal weight” rating for the company in a research note on Thursday, April 7th. Citigroup downgraded shares of Rocket Companies from a “buy” rating to a “neutral” rating and dropped their price target for the company from $14.00 to $8.00 in a research note on Wednesday, May 11th. Bank of America downgraded shares of Rocket Companies from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $21.00 to $11.00 in a research note on Tuesday, February 22nd. Royal Bank of Canada dropped their price target on shares of Rocket Companies from $18.00 to $9.00 in a research note on Thursday, May 12th. Finally, Credit Suisse Group dropped their price target on shares of Rocket Companies to $9.00 and set a “neutral” rating for the company in a research note on Thursday, May 19th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $11.08.

A number of large investors have recently bought and sold shares of RKT. Renaissance Technologies LLC acquired a new stake in Rocket Companies in the third quarter worth $372,000. Marshall Wace LLP acquired a new stake in Rocket Companies in the third quarter worth $930,000. California State Teachers Retirement System grew its holdings in Rocket Companies by 40.6% in the third quarter. California State Teachers Retirement System now owns 331,044 shares of the company’s stock worth $5,310,000 after purchasing an additional 95,648 shares during the period. Cubist Systematic Strategies LLC grew its holdings in Rocket Companies by 168.9% in the third quarter. Cubist Systematic Strategies LLC now owns 47,863 shares of the company’s stock worth $768,000 after purchasing an additional 30,066 shares during the period. Finally, Millennium Management LLC grew its holdings in Rocket Companies by 255.9% in the third quarter. Millennium Management LLC now owns 257,636 shares of the company’s stock worth $4,132,000 after purchasing an additional 185,236 shares during the period. Institutional investors and hedge funds own 3.71% of the company’s stock.

Rocket Companies Company Profile (Get Rating)

Rocket Companies, Inc engages in the tech-driven real estate, mortgage, and e-Commerce businesses 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; Rocket Auto, an automotive retail marketplace that provides centralized and virtual car sales support to online car purchasing platforms; and Rocket Loans, an online-based personal loans business.

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