Rocket Companies (NYSE:RKT) Director Sells $46,950.00 in Stock

Rocket Companies, Inc. (NYSE:RKT) Director Matthew Rizik sold 2,500 shares of the stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $18.78, for a total transaction of $46,950.00. Following the completion of the sale, the director owned 1,096,036 shares in the company, valued at $20,583,556.08. This represents a 0.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• 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 shares were 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 stock was sold at an average price of $17.47, for a total transaction of $43,675.00.

Rocket Companies Stock Up 0.9%

Shares of NYSE:RKT traded up $0.17 during midday trading on Tuesday, reaching $18.98. The company had a trading volume of 13,605,412 shares, compared to its average volume of 20,478,518. Rocket Companies, Inc. has a 1-year low of $10.06 and a 1-year high of $22.56. The stock has a market cap of $39.94 billion, a PE ratio of 237.23 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. The business’s 50 day moving average price is $17.60 and its 200 day moving average price is $16.71.

Rocket Companies (NYSE:RKT) last released its 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 negative net margin of 1.77% and a positive return on equity of 2.83%. The business had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same period last year, the business earned $0.08 earnings per share. The firm’s revenue was up 148.1% on a year-over-year basis. Research analysts forecast that Rocket Companies, Inc. will post 0.15 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RKT. Barclays set a $19.00 target price on shares of Rocket Companies and gave the company a “cautious” rating in a report on Monday, October 6th. Royal Bank Of Canada upped their price objective on Rocket Companies from $17.00 to $20.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Rocket Companies in a research report on Monday, October 13th. UBS Group set a $17.00 target price on Rocket Companies and gave the stock a “neutral” rating in a report on Friday, October 10th. Finally, Wall Street Zen downgraded Rocket Companies from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Four equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $18.18.

Hedge Funds Weigh In On Rocket Companies

Hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. raised its holdings in Rocket Companies by 18.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,890 shares of the company’s stock valued at $55,000 after acquiring an additional 605 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Rocket Companies by 3.5% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 18,817 shares of the company’s stock worth $365,000 after purchasing an additional 636 shares during the period. Miller Wealth Advisors LLC raised its stake in Rocket Companies by 65.0% in the third quarter. Miller Wealth Advisors LLC now owns 1,650 shares of the company’s stock valued at $32,000 after purchasing an additional 650 shares in the last quarter. Parallel Advisors LLC lifted its position in Rocket Companies by 26.1% during the third quarter. Parallel Advisors LLC now owns 3,267 shares of the company’s stock worth $63,000 after purchasing an additional 677 shares during the period. Finally, Amundi lifted its position in Rocket Companies by 2.3% during the second quarter. Amundi now owns 34,170 shares of the company’s stock worth $498,000 after purchasing an additional 754 shares during the period. Institutional investors own 4.59% of the company’s stock.

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.