Rocket Companies, Inc. (NYSE:RKT) CEO Buys $199,598.00 in Stock

Rocket Companies, Inc. (NYSE:RKTGet Rating) CEO Jay Farner purchased 26,900 shares of the company’s stock in a transaction dated Friday, September 16th. The stock was bought at an average cost of $7.42 per share, for a total transaction of $199,598.00. Following the completion of the purchase, the chief executive officer now directly owns 4,160,307 shares of the company’s stock, valued at approximately $30,869,477.94. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

Jay Farner also recently made the following trade(s):

  • On Wednesday, September 14th, Jay Farner purchased 26,400 shares of Rocket Companies stock. The stock was bought at an average cost of $7.55 per share, for a total transaction of $199,320.00.
  • On Monday, September 12th, Jay Farner purchased 25,000 shares of Rocket Companies stock. The stock was bought at an average cost of $7.97 per share, for a total transaction of $199,250.00.
  • On Thursday, September 8th, Jay Farner purchased 26,100 shares of Rocket Companies stock. The stock was bought at an average cost of $7.64 per share, for a total transaction of $199,404.00.
  • On Wednesday, August 31st, Jay Farner bought 25,200 shares of Rocket Companies stock. The shares were acquired at an average cost of $7.91 per share, for a total transaction of $199,332.00.
  • On Monday, August 29th, Jay Farner bought 24,000 shares of Rocket Companies stock. The shares were acquired at an average cost of $8.33 per share, for a total transaction of $199,920.00.
  • On Friday, August 26th, Jay Farner bought 21,200 shares of Rocket Companies stock. The shares were acquired at an average cost of $8.81 per share, for a total transaction of $186,772.00.
  • On Wednesday, August 24th, Jay Farner bought 21,500 shares of Rocket Companies stock. The shares were acquired at an average cost of $9.27 per share, for a total transaction of $199,305.00.
  • On Monday, August 22nd, Jay Farner bought 21,400 shares of Rocket Companies stock. The shares were acquired at an average cost of $9.33 per share, for a total transaction of $199,662.00.
  • On Thursday, August 18th, Jay Farner bought 19,100 shares of Rocket Companies stock. The shares were acquired at an average cost of $10.46 per share, for a total transaction of $199,786.00.
  • On Wednesday, August 10th, Jay Farner purchased 19,800 shares of Rocket Companies stock. The stock was acquired at an average cost of $10.06 per share, for a total transaction of $199,188.00.

Rocket Companies Stock Up 1.2 %

Shares of RKT opened at $7.60 on Friday. The stock has a market cap of $14.97 billion, a price-to-earnings ratio of 5.94, a P/E/G ratio of 39.53 and a beta of 1.76. The company has a quick ratio of 14.97, a current ratio of 14.97 and a debt-to-equity ratio of 1.46. Rocket Companies, Inc. has a 12 month low of $6.27 and a 12 month high of $18.13. The company has a 50-day moving average price of $9.07 and a two-hundred day moving average price of $9.17.

Rocket Companies (NYSE:RKTGet Rating) last posted its earnings results on Thursday, August 4th. The company reported ($0.03) earnings per share (EPS) 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 firm had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter last year, the firm posted $0.44 EPS. The business’s revenue was down 47.8% on a year-over-year basis. Equities analysts predict that Rocket Companies, Inc. will post 0.04 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on RKT shares. JPMorgan Chase & Co. downgraded Rocket Companies from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $11.00 to $8.50 in a research report on Tuesday, September 6th. Argus downgraded Rocket Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, May 31st. Wells Fargo & Company raised Rocket Companies from an “equal weight” rating to an “overweight” rating and set a $10.00 price target on the stock in a research report on Wednesday, July 6th. Barclays reduced their target price on shares of Rocket Companies to $7.00 in a research note on Tuesday, August 9th. Finally, Citigroup increased their target price on shares of Rocket Companies to $10.00 in a research note on Tuesday, August 9th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $9.88.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of RKT. Vanguard Group Inc. raised its stake in shares of Rocket Companies by 29.0% in the first quarter. Vanguard Group Inc. now owns 10,028,437 shares of the company’s stock valued at $111,517,000 after acquiring an additional 2,252,066 shares during the last quarter. ValueAct Holdings L.P. bought a new position in shares of Rocket Companies in the second quarter valued at approximately $14,720,000. Renaissance Technologies LLC raised its stake in shares of Rocket Companies by 378.7% in the first quarter. Renaissance Technologies LLC now owns 2,357,100 shares of the company’s stock valued at $26,211,000 after acquiring an additional 1,864,700 shares during the last quarter. Millennium Management LLC bought a new position in shares of Rocket Companies in the second quarter valued at approximately $8,983,000. Finally, Federated Hermes Inc. raised its stake in shares of Rocket Companies by 195.2% in the first quarter. Federated Hermes Inc. now owns 1,558,417 shares of the company’s stock valued at $17,330,000 after acquiring an additional 1,030,536 shares during the last quarter. Institutional investors own 4.16% of the company’s stock.

About Rocket Companies

(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.

Featured Stories

Insider Buying and Selling by Quarter for Rocket Companies (NYSE:RKT)

Receive News & Ratings for Rocket Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rocket Companies and related companies with MarketBeat.com's FREE daily email newsletter.