Rocket Companies, Inc. (NYSE:RKT) CEO Acquires $199,906.00 in Stock

Rocket Companies, Inc. (NYSE:RKTGet Rating) CEO Jay Farner acquired 26,200 shares of the firm’s stock in a transaction on Monday, September 19th. The stock was purchased at an average price of $7.63 per share, for a total transaction of $199,906.00. Following the completion of the transaction, the chief executive officer now directly owns 4,186,507 shares in the company, valued at approximately $31,943,048.41. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

  • On Wednesday, September 21st, Jay Farner acquired 26,500 shares of Rocket Companies stock. The stock was purchased at an average price of $7.55 per share, for a total transaction of $200,075.00.
  • On Friday, September 16th, Jay Farner acquired 26,900 shares of Rocket Companies stock. The stock was purchased at an average price of $7.42 per share, for a total transaction of $199,598.00.
  • 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 acquired 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 acquired 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 acquired 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 acquired 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 acquired 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.

Rocket Companies Price Performance

Shares of NYSE RKT opened at $7.13 on Friday. The stock has a market capitalization of $14.05 billion, a price-to-earnings ratio of 5.57, a PEG ratio of 56.62 and a beta of 1.76. The business has a 50-day moving average of $8.96 and a 200-day moving average of $9.03. The company has a debt-to-equity ratio of 1.46, a current ratio of 14.97 and a quick ratio of 14.97. Rocket Companies, Inc. has a fifty-two week low of $6.27 and a fifty-two week high of $18.13.

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 the consensus estimate of $0.02 by ($0.05). The company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.53 billion. Rocket Companies had a net margin of 1.85% and a return on equity of 19.79%. Rocket Companies’s revenue was down 47.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.44 EPS. As a group, sell-side analysts predict that Rocket Companies, Inc. will post 0.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rocket Companies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Castle Wealth Management LLC bought a new position in Rocket Companies during the second quarter worth about $25,000. FMR LLC grew its holdings in Rocket Companies by 134.7% during the second quarter. FMR LLC now owns 3,598 shares of the company’s stock worth $26,000 after purchasing an additional 2,065 shares during the period. Captrust Financial Advisors grew its holdings in Rocket Companies by 178.2% during the second quarter. Captrust Financial Advisors now owns 4,451 shares of the company’s stock worth $33,000 after purchasing an additional 2,851 shares during the period. Compagnie Lombard Odier SCmA bought a new position in Rocket Companies during the second quarter worth about $43,000. Finally, Rockefeller Capital Management L.P. grew its holdings in Rocket Companies by 173.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 3,500 shares of the company’s stock worth $49,000 after purchasing an additional 2,219 shares during the period. Institutional investors own 4.16% of the company’s stock.

Wall Street Analyst Weigh In

RKT has been the topic of several research analyst reports. Citigroup raised their price objective on Rocket Companies to $10.00 in a research note on Tuesday, August 9th. Wells Fargo & Company upgraded Rocket Companies from an “equal weight” rating to an “overweight” rating and set a $10.00 target price for the company in a report on Wednesday, July 6th. Keefe, Bruyette & Woods cut Rocket Companies from a “market perform” rating to an “underperform” rating and set a $6.50 target price for the company. in a report on Sunday, August 7th. Argus cut Rocket Companies from a “buy” rating to a “hold” rating in a report on Tuesday, May 31st. Finally, Barclays lowered their target price on Rocket Companies to $7.00 in a report on Tuesday, August 9th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Rocket Companies presently has a consensus rating of “Hold” and a consensus price target of $9.88.

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.

Further Reading

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

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