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

Rocket Companies, Inc. (NYSE:RKT) Director Matthew Rizik sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, December 24th. The stock was sold at an average price of $19.44, for a total value of $48,600.00. Following the transaction, the director directly owned 1,066,036 shares of the company’s stock, valued at approximately $20,723,739.84. The trade was a 0.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Friday, December 26th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The shares were sold at an average price of $19.38, for a total value of $48,450.00.
• On Monday, December 22nd, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The stock was sold at an average price of $18.99, for a total transaction of $47,475.00.
• On Friday, December 19th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The stock was 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 transaction 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 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 shares were sold at an average price of $18.78, for a total value 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 value of $49,650.00.
• On Tuesday, November 25th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The shares were 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 value of $41,750.00.

Rocket Companies Price Performance

Shares of NYSE RKT traded down $0.01 during trading on Monday, hitting $19.40. 11,028,459 shares of the company were exchanged, compared to its average volume of 20,234,496. Rocket Companies, Inc. has a 1 year low of $10.06 and a 1 year high of $22.56. The company has a market cap of $40.83 billion, a price-to-earnings ratio of 242.57 and a beta of 2.26. The firm’s fifty day moving average price is $18.08 and its 200 day moving average price is $17.31. The company has a debt-to-equity ratio of 2.16, a current ratio of 19.68 and a quick ratio of 19.68.

Rocket Companies (NYSE:RKT) last issued its quarterly earnings data on Thursday, October 30th. The company reported $0.07 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.07. The business 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 was up 148.1% on a year-over-year basis. During the same period last year, the company posted $0.08 EPS. On average, sell-side analysts expect that Rocket Companies, Inc. will post 0.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rocket Companies

Several large investors have recently modified their holdings of RKT. Durable Capital Partners LP bought a new position in shares of Rocket Companies in the third quarter valued at approximately $213,010,000. ValueAct Holdings L.P. raised its stake in shares of 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 acquiring an additional 10,270,018 shares during the last quarter. Fred Alger Management LLC lifted its position in shares of Rocket Companies by 7,412.6% during the third quarter. Fred Alger Management LLC now owns 6,078,800 shares of the company’s stock worth $117,807,000 after purchasing an additional 5,997,885 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Rocket Companies by 29.5% during the third 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 last quarter. Finally, Third Point LLC bought a new position in Rocket Companies in the 2nd quarter worth approximately $67,355,000. 4.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RKT has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price objective on shares of Rocket Companies from $16.00 to $18.00 and gave the company an “equal weight” rating in a research note on Monday, September 29th. Royal Bank Of Canada boosted their price objective on shares of Rocket Companies from $17.00 to $20.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 8th. Zacks Research upgraded shares of Rocket Companies from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 14th. Barclays set a $19.00 price target on shares of Rocket Companies and gave the stock a “cautious” rating in a research note on Monday, October 6th. Finally, Wells Fargo & Company lifted their price objective on Rocket Companies from $15.00 to $17.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 5th. Five research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently 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.