Rocket Companies, Inc. (NYSE:RKT – Get Rating) Director Matthew Rizik acquired 2,900 shares of the company’s stock in a transaction that occurred on Friday, September 16th. The stock was purchased at an average cost of $7.42 per share, for a total transaction of $21,518.00. Following the acquisition, the director now owns 362,902 shares in the company, valued at $2,692,732.84. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Matthew Rizik also recently made the following trade(s):
- On Wednesday, September 14th, Matthew Rizik bought 2,900 shares of Rocket Companies stock. The shares were bought at an average cost of $7.55 per share, for a total transaction of $21,895.00.
- On Monday, September 12th, Matthew Rizik bought 2,700 shares of Rocket Companies stock. The shares were bought at an average cost of $7.98 per share, for a total transaction of $21,546.00.
- On Thursday, September 8th, Matthew Rizik bought 2,900 shares of Rocket Companies stock. The shares were bought at an average cost of $7.63 per share, for a total transaction of $22,127.00.
- On Wednesday, August 31st, Matthew Rizik bought 2,700 shares of Rocket Companies stock. The shares were bought at an average cost of $7.92 per share, for a total transaction of $21,384.00.
- On Monday, August 29th, Matthew Rizik bought 2,600 shares of Rocket Companies stock. The shares were bought at an average cost of $8.32 per share, for a total transaction of $21,632.00.
- On Friday, August 26th, Matthew Rizik bought 2,400 shares of Rocket Companies stock. The shares were bought at an average cost of $8.80 per share, for a total transaction of $21,120.00.
- On Wednesday, August 24th, Matthew Rizik bought 2,300 shares of Rocket Companies stock. The shares were bought at an average cost of $9.27 per share, for a total transaction of $21,321.00.
- On Monday, August 22nd, Matthew Rizik acquired 2,300 shares of Rocket Companies stock. The stock was acquired at an average cost of $9.33 per share, for a total transaction of $21,459.00.
- On Thursday, August 18th, Matthew Rizik acquired 2,100 shares of Rocket Companies stock. The stock was acquired at an average cost of $10.46 per share, for a total transaction of $21,966.00.
- On Wednesday, August 10th, Matthew Rizik acquired 2,200 shares of Rocket Companies stock. The stock was acquired at an average cost of $10.06 per share, for a total transaction of $22,132.00.
Rocket Companies Stock Up 1.2 %
Shares of RKT stock traded up $0.09 during trading on Friday, hitting $7.60. 7,303,314 shares of the company were exchanged, compared to its average volume of 4,463,921. The company has a debt-to-equity ratio of 1.46, a quick ratio of 14.97 and a current ratio of 14.97. The firm has a market capitalization of $14.97 billion, a price-to-earnings ratio of 5.94, a P/E/G ratio of 39.63 and a beta of 1.76. The business’s 50-day simple moving average is $9.09 and its 200 day simple moving average is $9.24. Rocket Companies, Inc. has a twelve month low of $6.27 and a twelve month high of $18.13.
Rocket Companies (NYSE:RKT – Get Rating) last posted its quarterly earnings results on Thursday, August 4th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.05). The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.53 billion. Rocket Companies had a return on equity of 19.79% and a net margin of 1.85%. The business’s revenue for the quarter was down 47.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.44 earnings per share. As a group, analysts forecast that Rocket Companies, Inc. will post 0.04 EPS for the current fiscal year.
Institutional Trading of Rocket Companies
Several institutional investors have recently made changes to their positions in RKT. Vanguard Group Inc. raised its position in Rocket Companies by 29.0% during the first quarter. Vanguard Group Inc. now owns 10,028,437 shares of the company’s stock valued at $111,517,000 after acquiring an additional 2,252,066 shares in the last quarter. ValueAct Holdings L.P. bought a new position in Rocket Companies during the second quarter valued at approximately $14,720,000. Renaissance Technologies LLC raised its position in Rocket Companies by 378.7% during the first quarter. Renaissance Technologies LLC now owns 2,357,100 shares of the company’s stock valued at $26,211,000 after acquiring an additional 1,864,700 shares in the last quarter. Millennium Management LLC bought a new position in Rocket Companies during the second quarter valued at approximately $8,983,000. Finally, Federated Hermes Inc. raised its position in Rocket Companies by 195.2% during the first quarter. Federated Hermes Inc. now owns 1,558,417 shares of the company’s stock valued at $17,330,000 after acquiring an additional 1,030,536 shares in the last quarter. 4.16% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on RKT. Barclays lowered their price objective on shares of Rocket Companies to $7.00 in a research note on Tuesday, August 9th. Keefe, Bruyette & Woods cut shares of Rocket Companies from a “market perform” rating to an “underperform” rating and set a $6.50 price objective on the stock. in a research note on Sunday, August 7th. Argus cut shares of Rocket Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, May 31st. JPMorgan Chase & Co. cut shares of Rocket Companies from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $11.00 to $8.50 in a research note on Tuesday, September 6th. Finally, Credit Suisse Group decreased their target price on shares of Rocket Companies to $9.00 and set a “neutral” rating for the company in a report on Thursday, May 19th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $9.88.
Rocket Companies Company Profile
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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