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

Rocket Companies, Inc. (NYSE:RKTGet Rating) Director Matthew Rizik purchased 2,900 shares of the business’s stock in a transaction on Thursday, September 8th. The stock was acquired at an average price of $7.63 per share, for a total transaction of $22,127.00. Following the completion of the purchase, the director now owns 346,002 shares of the company’s stock, valued at $2,639,995.26. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

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

Rocket Companies Price Performance

Shares of RKT opened at $8.04 on Friday. Rocket Companies, Inc. has a twelve month low of $6.27 and a twelve month high of $18.13. The stock’s 50 day moving average is $9.12 and its two-hundred day moving average is $9.36. The firm has a market capitalization of $15.84 billion, a PE ratio of 6.28, a P/E/G ratio of 42.32 and a beta of 1.76. The company has a current ratio of 14.97, a quick ratio of 14.97 and a debt-to-equity ratio of 1.46.

Rocket Companies (NYSE:RKTGet Rating) last announced its quarterly earnings data on Thursday, August 4th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.05). Rocket Companies had a net margin of 1.85% and a return on equity of 19.79%. The business had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the prior year, the firm posted $0.44 EPS. Rocket Companies’s revenue for the quarter was down 47.8% compared to the same quarter last year. Research analysts anticipate that Rocket Companies, Inc. will post 0.04 earnings per share for the current year.

Institutional Investors Weigh In On Rocket Companies

A number of institutional investors have recently added to or reduced their stakes in RKT. Swiss National Bank boosted its holdings in Rocket Companies by 1.0% in the 4th quarter. Swiss National Bank now owns 304,600 shares of the company’s stock valued at $4,264,000 after purchasing an additional 3,000 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Rocket Companies during the 4th quarter valued at approximately $364,000. Teacher Retirement System of Texas lifted its position in shares of Rocket Companies by 20.9% during the 4th quarter. Teacher Retirement System of Texas now owns 26,413 shares of the company’s stock valued at $370,000 after acquiring an additional 4,560 shares during the period. Citigroup Inc. lifted its position in shares of Rocket Companies by 4.9% during the 4th quarter. Citigroup Inc. now owns 63,501 shares of the company’s stock valued at $889,000 after acquiring an additional 2,941 shares during the period. Finally, Rafferty Asset Management LLC lifted its position in shares of Rocket Companies by 7.3% during the 4th quarter. Rafferty Asset Management LLC now owns 71,149 shares of the company’s stock valued at $996,000 after acquiring an additional 4,821 shares during the period. Hedge funds and other institutional investors own 4.16% of the company’s stock.

Analyst Upgrades and Downgrades

RKT has been the topic of several research reports. Argus lowered Rocket Companies from a “buy” rating to a “hold” rating in a report on Tuesday, May 31st. Keefe, Bruyette & Woods lowered Rocket Companies from a “market perform” rating to an “underperform” rating and set a $6.50 price objective on the stock. in a report on Sunday, August 7th. Wedbush dropped their price objective on Rocket Companies to $7.00 and set a “na” rating on the stock in a report on Tuesday, May 17th. Citigroup raised their price target on Rocket Companies to $10.00 in a report on Tuesday, August 9th. Finally, Credit Suisse Group lowered their price target on Rocket Companies to $9.00 and set a “neutral” rating on the stock in a report on Thursday, May 19th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $9.88.

Rocket Companies Company Profile

(Get Rating)

Rocket Companies, Inc engages in the tech-driven real estate, mortgage, and e-Commerce businesses 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 that provides title insurance, property valuation, and settlement services; Rocket Homes, a home search platform and real estate agent referral network, which offers technology-enabled services to support the home buying and selling experience; Rocket Auto, an automotive retail marketplace that provides centralized and virtual car sales support to online car purchasing platforms; and Rocket Loans, an online-based personal loans business.

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