Rocket Companies (NYSE:RKT) CEO Jesse Bray Sells 225,000 Shares of Stock

Rocket Companies, Inc. (NYSE:RKT) CEO Jesse Bray sold 225,000 shares of the company’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $13.11, for a total value of $2,949,750.00. Following the completion of the transaction, the chief executive officer owned 7,953,027 shares of the company’s stock, valued at $104,264,183.97. The trade was a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Rocket Companies Trading Down 1.7%

Shares of RKT opened at $12.97 on Thursday. The company has a current ratio of 4.85, a quick ratio of 4.85 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $36.72 billion, a P/E ratio of 92.63, a price-to-earnings-growth ratio of 3.62 and a beta of 2.20. The stock’s fifty day simple moving average is $13.87 and its 200 day simple moving average is $14.35. Rocket Companies, Inc. has a twelve month low of $12.17 and a twelve month high of $24.36.

Rocket Companies (NYSE:RKT) last announced its earnings results on Thursday, August 6th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.16. The business had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.81 billion. Rocket Companies had a return on equity of 5.13% and a net margin of 4.70%.The company’s revenue for the quarter was up 91.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.04 earnings per share. On average, equities research analysts forecast that Rocket Companies, Inc. will post 0.52 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Benchmark lowered their price objective on shares of Rocket Companies from $21.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. Barclays dropped their price target on Rocket Companies from $19.00 to $17.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 7th. Weiss Ratings downgraded shares of Rocket Companies from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, August 21st. Keefe, Bruyette & Woods reduced their price target on Rocket Companies from $20.00 to $19.00 and set an “outperform” rating for the company in a report on Monday, August 10th. Finally, Wells Fargo & Company reduced their price objective on shares of Rocket Companies from $17.00 to $15.00 and set an “equal weight” rating for the company in a research note on Friday, August 7th. Nine analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, Rocket Companies has an average rating of “Moderate Buy” and an average price target of $19.57.

Institutional Investors Weigh In On Rocket Companies

Institutional investors and hedge funds have recently bought and sold shares of the business. Integrated Wealth Concepts LLC grew its position in Rocket Companies by 32.8% in the second quarter. Integrated Wealth Concepts LLC now owns 142,805 shares of the company’s stock valued at $2,249,000 after acquiring an additional 35,239 shares during the period. Nykredit A S bought a new position in shares of Rocket Companies during the second quarter valued at $2,980,000. Greenland Capital Management LP increased its position in shares of Rocket Companies by 84.6% during the 2nd quarter. Greenland Capital Management LP now owns 48,000 shares of the company’s stock worth $756,000 after purchasing an additional 22,000 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in Rocket Companies in the second quarter valued at about $113,000. Finally, Wedmont Private Capital boosted its position in Rocket Companies by 28.4% in the second quarter. Wedmont Private Capital now owns 31,319 shares of the company’s stock valued at $451,000 after buying an additional 6,930 shares in the last quarter. Institutional investors own 4.59% of the company’s stock.

Rocket Companies Company Profile

Rocket Companies, Inc is a Detroit-based financial technology company that provides digital platforms and services for homeownership and personal finance. Its flagship business, Rocket Mortgage, originates and services residential mortgage loans through an online application and lending process, serving borrowers across the United States.

The company also operates Rocket Homes, a real estate platform that connects consumers with real estate agents and home-buying resources; Rocket Loans, which provides personal loans; and Rocket Money, a personal finance app designed to help users manage subscriptions, budgeting and other aspects of their financial lives.