Insider Buying: Rocket Companies, Inc. (NYSE: RKT) Director Buys 2,900 Shares

Rocket Companies, Inc. (NYSE: RKT – Get a rating) Director Matthew Rizik bought 2,900 shares of the company in a trade on Thursday, September 8. The shares were acquired at an average cost of $7.63 per share, for a total transaction of $22,127.00. Following completion of the transaction, the administrator now directly owns 346,002 shares of the company, valued at $2,639,995.26. The purchase was disclosed in an SEC filing, which is available via this link.

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

  • On Wednesday August 31, Matthew Rizik purchased 2,700 shares of Rocket Companies. The shares were purchased at an average cost of $7.92 per share, for a total transaction of $21,384.00.
  • On Monday, August 29, Matthew Rizik purchased 2,600 shares of Rocket Companies. The shares were purchased at an average cost of $8.32 per share, for a total transaction of $21,632.00.
  • On Friday August 26, Matthew Rizik purchased 2,400 shares of Rocket Companies. The shares were purchased at an average cost of $8.80 per share, for a total transaction of $21,120.00.
  • On Wednesday August 24, Matthew Rizik purchased 2,300 shares of Rocket Companies. The shares were purchased at an average cost of $9.27 per share, for a total transaction of $21,321.00.
  • On Monday, August 22, Matthew Rizik purchased 2,300 shares of Rocket Companies. The shares were purchased at an average cost of $9.33 per share, for a total transaction of $21,459.00.
  • On Thursday August 18, Matthew Rizik purchased 2,100 shares of Rocket Companies. The shares were purchased at an average cost of $10.46 per share, for a total transaction of $21,966.00.
  • On Wednesday August 10, Matthew Rizik purchased 2,200 shares of Rocket Companies. The shares were purchased at an average cost of $10.06 per share, for a total transaction of $22,132.00.
  • On Monday, August 8, Matthew Rizik purchased 2,200 shares of Rocket Companies. The stock was purchased at an average price of $9.61 per share, for a total transaction of $21,142.00.
  • On Friday August 5, Matthew Rizik purchased 2,200 shares of Rocket Companies. The stock was purchased at an average price of $9.72 per share, for a total transaction of $21,384.00.
  • On Wednesday August 3, Matthew Rizik purchased 2,100 shares of Rocket Companies. The stock was purchased at an average price of $10.23 per share, for a total transaction of $21,483.00.

Rocket Company Price Performance

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NYSE RKT shares rose $0.36 during Friday trading hours, hitting $8.04. 2,812,312 shares were traded, against an average volume of 4,480,556. The company has a debt ratio of 1.46, a quick ratio of 14.97 and a current ratio of 14.97. The company has a market capitalization of $15.84 billion, a PE ratio of 6.28, a price-to-earnings growth ratio of 39.68 and a beta of 1.76. The company’s fifty-day simple moving average is $9.12 and its two-hundred-day simple moving average is $9.38. Rocket Companies, Inc. has a 1-year low of $6.27 and a 1-year high of $18.13.

Rocket Companies (NYSE: RKT – Get a rating) last released its quarterly results on Thursday, August 4. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 per ($0.05). The company posted revenue of $1.39 billion for the quarter, compared to analysts’ estimates of $1.53 billion. Rocket Companies had a return on equity of 19.79% and a net margin of 1.85%. The company’s revenue was down 47.8% year over year. In the same quarter a year earlier, the company posted EPS of $0.44. On average, sell-side analysts expect Rocket Companies, Inc. to post 0.04 EPS for the current year.

Hedge funds weigh in on rocket companies

Major investors have recently changed their stake in the company. Castle Wealth Management LLC bought a new stock position in Rocket Companies during the second quarter worth $25,000. FMR LLC increased its stake in Rocket Companies by 134.7% during the second quarter. FMR LLC now owns 3,598 shares of the company worth $26,000 after purchasing an additional 2,065 shares in the last quarter. Captrust Financial Advisors increased its stake in Rocket Companies by 178.2% during the second quarter. Captrust Financial Advisors now owns 4,451 shares of the company worth $33,000 after buying 2,851 additional shares in the last quarter. Compagnie Lombard Odier SCmA bought a new position in Rocket Companies during the second quarter at a value of $43,000. Finally, Rockefeller Capital Management LP increased its stake in Rocket Companies by 173.2% during the fourth quarter. Rockefeller Capital Management LP now owns 3,500 shares of the company worth $49,000 after buying 2,219 additional shares in the last quarter. Institutional investors hold 4.16% of the company’s shares.

A Wall Street analyst gives his opinion

RKT has been the subject of several research analyst reports. Credit Suisse Group lowered its price target on Rocket Companies shares to $9.00 and set a “neutral” rating on the stock in a Thursday, May 19 report. Royal Bank of Canada lowered its price target on Rocket Companies shares from $18.00 to $9.00 in a Thursday, May 12 report. JPMorgan Chase & Co. cut shares of Rocket Companies from an “overweight” rating to a “neutral” rating and lowered its price target for the company from $11.00 to $8.50 in a report released Tuesday . Wells Fargo & Company moved shares of Rocket Companies from an “equal weight” rating to an “overweight” rating and set a target price of $10.00 on the stock in a Wednesday, July 6 research report . Finally, Keefe, Bruyette & Woods downgraded shares of Rocket Companies from a “market performance” rating to an “underperforming” rating and set a target price of $6.50 for the stock. in a research report on Sunday, August 7. Two analysts rated the stock with a sell rating, nine assigned a hold rating and one assigned the company a buy rating. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $9.88.

About Rocket Companies

(Get a rating)

Rocket Companies, Inc. operates in the technology-driven real estate, mortgage, and e-commerce industries 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 which provides title insurance, real estate appraisal and settlement services; Rocket Homes, a home search platform and realtor referral network, which offers technology services to support the home buying and selling experience; Rocket Auto, an automotive retail marketplace that provides centralized, virtual car-selling support to online car-buying platforms; and Rocket Loans, an online personal loan company.

See also

Insider buying and selling by quarter for rocket companies (NYSE: RKT)

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