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

Rocket Companies, Inc. (NYSE:RKT) Director Matthew Rizik sold 2,500 shares of the business’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $18.99, for a total value of $47,475.00. Following the completion of the transaction, the director owned 1,086,036 shares of the company’s stock, valued at $20,623,823.64. This represents a 0.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• 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.
• On Monday, December 8th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The stock was 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 transaction of $49,650.00.
• On Tuesday, November 25th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The stock was 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 shares were sold at an average price of $16.70, for a total transaction of $41,750.00.
• On Thursday, November 13th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The shares were sold at an average price of $17.47, for a total transaction of $43,675.00.

Rocket Companies Trading Down 3.4%

Shares of RKT stock opened at $18.70 on Friday. The company has a current ratio of 19.68, a quick ratio of 19.68 and a debt-to-equity ratio of 2.16. Rocket Companies, Inc. has a 12-month low of $10.06 and a 12-month high of $22.56. The stock has a market capitalization of $39.35 billion, a P/E ratio of 233.73 and a beta of 2.26. The firm’s 50 day moving average is $17.61 and its 200 day moving average is $16.83.

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

Institutional Trading of Rocket Companies

Hedge funds and other institutional investors have recently modified their holdings of the company. Cetera Investment Advisers lifted its stake in shares of Rocket Companies by 5.3% during the 1st quarter. Cetera Investment Advisers now owns 34,779 shares of the company’s stock valued at $420,000 after buying an additional 1,744 shares in the last quarter. US Bancorp DE raised its holdings in Rocket Companies by 81.6% during the first quarter. US Bancorp DE now owns 6,286 shares of the company’s stock valued at $76,000 after acquiring an additional 2,824 shares during the period. Vanguard Group Inc. lifted its position in shares of Rocket Companies by 2.2% in the first quarter. Vanguard Group Inc. now owns 12,793,549 shares of the company’s stock valued at $154,418,000 after acquiring an additional 273,475 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Rocket Companies by 8.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,266,399 shares of the company’s stock worth $15,285,000 after acquiring an additional 103,156 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Rocket Companies by 11.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 21,601 shares of the company’s stock worth $261,000 after acquiring an additional 2,168 shares during the period. 4.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RKT has been the subject of several research reports. Wall Street Zen lowered shares of Rocket Companies from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Barclays set a $19.00 target price on shares of Rocket Companies and gave the company a “cautious” rating in a research report on Monday, October 6th. Wells Fargo & Company increased their price target on shares of Rocket Companies from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 5th. Morgan Stanley lifted their price target on shares of Rocket Companies from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Monday, September 29th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Rocket Companies in a research report on Monday. Four equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $18.18.

Rocket Companies Company Profile

Rocket Companies, Inc, a fintech holding company, provides mortgage lending, title and settlement services, and other financial technology services 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; and Rocket Loans, an online-based personal loans business.