Rocket Companies (NYSE:RKT) Director Sells $56,950.00 in Stock

Rocket Companies, Inc. (NYSE:RKT) Director Matthew Rizik sold 2,500 shares of the stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $22.78, for a total transaction of $56,950.00. Following the sale, the director directly owned 1,041,036 shares of the company’s stock, valued at $23,714,800.08. This represents a 0.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Monday, January 12th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The shares were sold at an average price of $22.99, for a total transaction of $57,475.00.
• On Wednesday, January 7th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The stock was sold at an average price of $21.26, for a total transaction of $53,150.00.
• On Monday, December 29th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The stock was sold at an average price of $19.25, for a total transaction of $48,125.00.
• 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 transaction of $48,450.00.
• On Wednesday, December 24th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The stock was sold at an average price of $19.44, for a total value of $48,600.00.
• 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 value of $47,475.00.
• 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 stock was 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 stock was sold at an average price of $19.17, for a total value of $47,925.00.

Rocket Companies Stock Performance

Shares of RKT stock opened at $23.44 on Friday. The company has a market cap of $49.33 billion, a price-to-earnings ratio of 293.04 and a beta of 2.29. Rocket Companies, Inc. has a 52 week low of $10.94 and a 52 week high of $23.60. The company has a quick ratio of 19.68, a current ratio of 19.68 and a debt-to-equity ratio of 2.16. The firm has a 50 day moving average of $19.30 and a 200-day moving average of $17.96.

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

Institutional Investors Weigh In On Rocket Companies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Cloud Capital Management LLC bought a new position in Rocket Companies during the 3rd quarter valued at $25,000. North Capital Inc. raised its holdings in shares of Rocket Companies by 287.2% in the second quarter. North Capital Inc. now owns 1,820 shares of the company’s stock valued at $26,000 after purchasing an additional 1,350 shares during the last quarter. SouthState Corp lifted its position in shares of Rocket Companies by 2,044.8% during the second quarter. SouthState Corp now owns 2,059 shares of the company’s stock valued at $29,000 after purchasing an additional 1,963 shares in the last quarter. Miller Wealth Advisors LLC boosted its holdings in Rocket Companies by 65.0% during the third quarter. Miller Wealth Advisors LLC now owns 1,650 shares of the company’s stock worth $32,000 after purchasing an additional 650 shares during the last quarter. Finally, Geneos Wealth Management Inc. purchased a new position in Rocket Companies during the third quarter worth about $38,000. 4.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on RKT. The Goldman Sachs Group restated a “neutral” rating and issued a $22.00 target price (up from $16.00) on shares of Rocket Companies in a research note on Wednesday, October 29th. Oppenheimer began coverage on Rocket Companies in a research note on Thursday, November 13th. They issued an “outperform” rating and a $25.00 price objective for the company. Morgan Stanley boosted their price objective on Rocket Companies from $16.00 to $18.00 and gave the company an “equal weight” rating in a report on Monday, September 29th. BTIG Research reaffirmed a “buy” rating and set a $25.00 target price on shares of Rocket Companies in a research report on Wednesday, November 19th. Finally, JPMorgan Chase & Co. began coverage on shares of Rocket Companies in a research report on Monday. They issued a “neutral” rating and a $24.00 price target for the company. Five equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $20.50.

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.