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

Rocket Companies, Inc. (NYSE:RKT) Director Matthew Rizik sold 2,500 shares of the business’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $19.21, for a total value of $48,025.00. Following the completion of the transaction, the director directly owned 1,073,536 shares of the company’s stock, valued at approximately $20,622,626.56. This trade represents a 0.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• 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 Wednesday, December 17th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The shares were sold at an average price of $18.21, for a total transaction of $45,525.00.
• On Friday, December 12th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The shares were sold at an average price of $18.99, for a total transaction 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 transaction of $47,925.00.
• On Monday, December 8th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The shares were sold at an average price of $18.78, for a total transaction 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 value of $41,750.00.
• On Thursday, November 13th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The stock was sold at an average price of $17.47, for a total value of $43,675.00.

Rocket Companies Price Performance

RKT stock opened at $19.50 on Thursday. The stock has a market capitalization of $41.04 billion, a price-to-earnings ratio of 243.78 and a beta of 2.26. The company has a quick ratio of 19.68, a current ratio of 19.68 and a debt-to-equity ratio of 2.16. Rocket Companies, Inc. has a 52-week low of $10.06 and a 52-week high of $22.56. The stock’s fifty day simple moving average is $17.96 and its 200-day simple moving average is $17.19.

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

Institutional Investors Weigh In On Rocket Companies

Institutional investors and hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. raised its holdings in shares of Rocket Companies by 18.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,890 shares of the company’s stock valued at $55,000 after buying an additional 605 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Rocket Companies by 3.5% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 18,817 shares of the company’s stock valued at $365,000 after purchasing an additional 636 shares during the period. Miller Wealth Advisors LLC lifted its position in shares of 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 in the last quarter. Parallel Advisors LLC boosted its stake in shares of Rocket Companies by 26.1% in the third quarter. Parallel Advisors LLC now owns 3,267 shares of the company’s stock valued at $63,000 after purchasing an additional 677 shares during the period. Finally, Amundi grew its holdings in Rocket Companies by 2.3% during the 2nd quarter. Amundi now owns 34,170 shares of the company’s stock valued at $498,000 after purchasing an additional 754 shares in the last quarter. Hedge funds and other institutional investors own 4.59% of the company’s stock.

Analyst Upgrades and Downgrades

RKT has been the topic of a number of recent analyst reports. BTIG Research reaffirmed a “buy” rating and set a $25.00 price target on shares of Rocket Companies in a research note on Wednesday, November 19th. Jefferies Financial Group assumed coverage on Rocket Companies in a report on Friday, December 19th. They issued a “buy” rating and a $25.00 target price on the stock. UBS Group set a $17.00 price target on Rocket Companies and gave the stock a “neutral” rating in a research note on Friday, October 10th. Wall Street Zen downgraded Rocket Companies from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Finally, Bank of America upgraded Rocket Companies from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $21.00 to $24.00 in a report on Wednesday, September 10th. Five equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $19.32.

About Rocket Companies

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.