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 stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $18.21, for a total transaction of $45,525.00. Following the transaction, the director directly owned 1,078,536 shares of the company’s stock, valued at $19,640,140.56. This represents a 0.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Friday, December 12th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The stock was 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 shares were 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 value 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 value of $48,225.00.
• On Monday, November 17th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The stock was 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 shares were sold at an average price of $17.47, for a total value of $43,675.00.

Rocket Companies Price Performance

Shares of NYSE:RKT opened at $19.08 on Friday. 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 firm has a market capitalization of $40.15 billion, a PE ratio of 238.53 and a beta of 2.26. Rocket Companies, Inc. has a twelve month low of $10.06 and a twelve month high of $22.56. The company has a 50-day moving average price of $17.81 and a two-hundred day moving average price of $17.02.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of RKT. Durable Capital Partners LP bought a new position in shares of Rocket Companies in the third quarter worth approximately $213,010,000. ValueAct Holdings L.P. grew its stake in Rocket Companies by 67.9% in the 3rd quarter. ValueAct Holdings L.P. now owns 25,395,627 shares of the company’s stock worth $492,167,000 after buying an additional 10,270,018 shares in the last quarter. Fred Alger Management LLC grew its stake in Rocket Companies by 7,412.6% in the 3rd quarter. Fred Alger Management LLC now owns 6,078,800 shares of the company’s stock worth $117,807,000 after buying an additional 5,997,885 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Rocket Companies by 29.5% in the 3rd quarter. Vanguard Group Inc. now owns 22,945,500 shares of the company’s stock worth $444,684,000 after buying an additional 5,226,931 shares during the last quarter. Finally, Third Point LLC purchased a new stake in shares of Rocket Companies during the 2nd quarter valued at $67,355,000. Hedge funds and other institutional investors own 4.59% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on RKT shares. UBS Group set a $17.00 price target on Rocket Companies and gave the company a “neutral” rating in a research report on Friday, October 10th. Weiss Ratings restated a “sell (d+)” rating on shares of Rocket Companies in a research note on Monday. Jefferies Financial Group began coverage on Rocket Companies in a report on Friday. They set a “buy” rating and a $25.00 target price for the company. Keefe, Bruyette & Woods increased their price target on shares of Rocket Companies from $18.00 to $20.00 and gave the stock a “market perform” rating in a report on Thursday. Finally, BTIG Research reaffirmed a “buy” rating and set a $25.00 price objective on shares of Rocket Companies in a research note on Wednesday, November 19th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average 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.