Rocket Companies (NYSE:RKT) Director Sells $47,475.00 in Stock

Rocket Companies, Inc. (NYSE:RKT) Director Matthew Rizik sold 2,500 shares of Rocket Companies stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $18.99, for a total transaction of $47,475.00. Following the completion of the sale, the director owned 1,071,036 shares in the company, valued at $20,338,973.64. The trade was a 0.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Friday, December 19th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The shares were sold at an average price of $19.21, for a total value of $48,025.00.
• On Wednesday, December 17th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The stock was sold at an average price of $18.21, for a total value of $45,525.00.
• 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 transaction of $47,475.00.
• On Wednesday, December 10th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The stock was 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 shares were 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 value of $48,225.00.
• On Monday, November 17th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The shares were sold at an average price of $16.70, for a total value of $41,750.00.
• On Thursday, November 13th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The stock was sold at an average price of $17.47, for a total value of $43,675.00.

Rocket Companies Stock Up 2.2%

RKT opened at $19.50 on Friday. The stock’s fifty day simple moving average is $18.02 and its 200 day simple moving average is $17.21. Rocket Companies, Inc. has a 1-year low of $10.06 and a 1-year high of $22.56. The stock has a market cap of $41.04 billion, a PE ratio of 243.78 and a beta of 2.26. The company has a current ratio of 19.68, a quick ratio of 19.68 and a debt-to-equity ratio of 2.16.

Rocket Companies (NYSE:RKT) last released its quarterly earnings data on Thursday, October 30th. The company reported $0.07 EPS for the quarter, hitting analysts’ consensus estimates of $0.07. The firm had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Rocket Companies had a negative net margin of 1.77% and a positive return on equity of 2.83%. The company’s revenue for the quarter was up 148.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.08 earnings per share. As a group, research analysts expect that Rocket Companies, Inc. will post 0.15 earnings per share for the current year.

Institutional Investors Weigh In On Rocket Companies

A number of institutional investors have recently modified their holdings of RKT. AIA Group Ltd bought a new stake in Rocket Companies during the third quarter valued at $377,000. Hudson Bay Capital Management LP acquired a new position in shares of Rocket Companies in the 3rd quarter valued at about $13,728,000. Allworth Financial LP boosted its position in shares of Rocket Companies by 85.8% during the 3rd quarter. Allworth Financial LP now owns 3,243 shares of the company’s stock valued at $63,000 after purchasing an additional 1,498 shares in the last quarter. IFP Advisors Inc grew its stake in Rocket Companies by 26.2% during the third quarter. IFP Advisors Inc now owns 7,696 shares of the company’s stock worth $157,000 after purchasing an additional 1,596 shares during the period. Finally, Polar Asset Management Partners Inc. bought a new stake in Rocket Companies in the third quarter worth approximately $957,000. 4.59% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on RKT shares. Zacks Research upgraded Rocket Companies from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 14th. Oppenheimer began coverage on shares of Rocket Companies in a report on Thursday, November 13th. They set an “outperform” rating and a $25.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Rocket Companies in a report on Monday. Jefferies Financial Group assumed coverage on shares of Rocket Companies in a report on Friday, December 19th. They set a “buy” rating and a $25.00 target price on the stock. Finally, Bank of America upgraded shares of Rocket Companies from a “neutral” rating to a “buy” rating and upped their price target for the company from $21.00 to $24.00 in a research report on Wednesday, September 10th. Five analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $19.32.

About Rocket Companies

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.