Rocket Companies (NYSE:RKT) Director Matthew Rizik Sells 2,500 Shares

Rocket Companies, Inc. (NYSE:RKT) Director Matthew Rizik sold 2,500 shares of Rocket Companies stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $18.21, for a total value of $45,525.00. Following the sale, the director owned 1,078,536 shares in the company, valued at $19,640,140.56. This represents a 0.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Friday, December 12th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The shares were sold at an average price of $18.99, for a total value of $47,475.00.
• On Wednesday, December 10th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The shares were sold at an average price of $19.17, for a total transaction of $47,925.00.
• On Monday, December 8th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The stock was sold at an average price of $18.78, for a total transaction of $46,950.00.
• On Thursday, December 4th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The shares were sold at an average price of $19.86, for a total transaction of $49,650.00.
• On Tuesday, November 25th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The stock was sold at an average price of $19.29, for a total transaction of $48,225.00.
• On Monday, November 17th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The stock was sold at an average price of $16.70, for a total transaction of $41,750.00.
• On Thursday, November 13th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The shares were sold at an average price of $17.47, for a total transaction of $43,675.00.

Rocket Companies Stock Up 2.3%

Shares of RKT traded up $0.43 during mid-day trading on Friday, reaching $19.08. The company had a trading volume of 19,588,493 shares, compared to its average volume of 20,428,527. The company has a debt-to-equity ratio of 2.16, a quick ratio of 19.68 and a current ratio of 19.68. The firm has a 50-day moving average price of $17.76 and a 200 day moving average price of $16.98. Rocket Companies, Inc. has a 52 week low of $10.06 and a 52 week high of $22.56. The company has a market capitalization of $40.15 billion, a price-to-earnings ratio of 238.53 and a beta of 2.26.

Rocket Companies (NYSE:RKT) last posted its quarterly earnings data on Thursday, October 30th. The company reported $0.07 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.07. Rocket Companies had a positive return on equity of 2.83% and a negative net margin of 1.77%.The company had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter last year, the company earned $0.08 EPS. The firm’s revenue for the quarter was up 148.1% on a year-over-year basis. On average, sell-side analysts forecast that Rocket Companies, Inc. will post 0.15 EPS for the current year.

Institutional Investors Weigh In On Rocket Companies

A number of hedge funds have recently added to or reduced their stakes in RKT. Durable Capital Partners LP bought a new stake in shares of Rocket Companies in the third quarter worth $213,010,000. ValueAct Holdings L.P. boosted its position in Rocket Companies by 67.9% in the third quarter. ValueAct Holdings L.P. now owns 25,395,627 shares of the company’s stock worth $492,167,000 after purchasing an additional 10,270,018 shares during the last quarter. Fred Alger Management LLC grew its stake in shares of Rocket Companies by 7,412.6% during the 3rd quarter. Fred Alger Management LLC now owns 6,078,800 shares of the company’s stock valued at $117,807,000 after purchasing an additional 5,997,885 shares during the period. Vanguard Group Inc. grew its stake in shares of Rocket Companies by 29.5% during the 3rd quarter. Vanguard Group Inc. now owns 22,945,500 shares of the company’s stock valued at $444,684,000 after purchasing an additional 5,226,931 shares during the period. Finally, Third Point LLC purchased a new stake in shares of Rocket Companies during the 2nd quarter valued at about $67,355,000. 4.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RKT has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of Rocket Companies from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Zacks Research upgraded shares of Rocket Companies from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 14th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Rocket Companies in a report on Monday. BTIG Research restated a “buy” rating and issued a $25.00 price objective on shares of Rocket Companies in a report on Wednesday, November 19th. Finally, Bank of America raised Rocket Companies from a “neutral” rating to a “buy” rating and upped their price objective for the company from $21.00 to $24.00 in a research report on Wednesday, September 10th. Five investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Rocket Companies presently has a consensus rating of “Hold” and a consensus price target of $19.32.

Rocket Companies Company Profile

Rocket Companies, Inc is a Detroit-based holding company whose businesses are centered on digital mortgage origination and related consumer finance and real estate services. The company grew out of the Quicken Loans franchise and completed an initial public offering in 2020. Founder Dan Gilbert remains a prominent figure associated with the firm, which operates a suite of brands that aim to simplify the home financing and buying experience through technology and scale.

The company’s core activity is mortgage lending through its Rocket Mortgage platform, which offers online application, underwriting and servicing for home purchase and refinance loans.