Jay Farner acquires 23,300 shares of Rocket Companies, Inc. (NYSE: RKT)

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Rocket Companies, Inc. (NYSE: RKTGet a rating) CEO Jay Farner acquired 23,300 shares of the company in a transaction on Wednesday, June 8. The shares were acquired at an average price of $8.58 per share, with a total value of $199,914.00. Following completion of the transaction, the CEO now directly owns 2,545,507 shares of the company, valued at approximately $21,840,450.06. The purchase was disclosed in a legal filing with the SEC, which is available via this hyperlink.

Jay Farner also recently made the following trade(s):

  • On Monday, June 6, Jay Farner acquired 23,100 shares of Rocket Companies. The shares were acquired at an average price of $8.66 per share, with a total value of $200,046.00.
  • On Thursday, June 2, Jay Farner purchased 22,500 shares of Rocket Companies. The shares were purchased at an average cost of $8.88 per share, with a total value of $199,800.00.
  • On Tuesday, May 31, Jay Farner purchased 21,700 shares of Rocket Companies. The shares were purchased at an average cost of $9.21 per share, with a total value of $199,857.00.
  • On Wednesday, May 25, Jay Farner purchased 22,400 shares of Rocket Companies. The shares were purchased at an average cost of $8.93 per share, with a total value of $200,032.00.
  • On Monday, May 23, Jay Farner acquired 22,600 shares of Rocket Companies. The stock was purchased at an average price of $8.81 per share, for a total transaction of $199,106.00.
  • On Thursday, May 19, Jay Farner acquired 22,400 shares of Rocket Companies. The stock was purchased at an average cost of $8.91 per share, for a total transaction of $199,584.00.
  • On Monday, May 16, Jay Farner acquired 23,700 shares of Rocket Companies. The stock was purchased at an average price of $8.43 per share, for a total transaction of $199,791.00.
  • On Friday, May 13, Jay Farner purchased 24,300 shares of Rocket Companies. The shares were acquired at an average cost of $8.22 per share, for a total transaction of $199,746.00.
  • On Wednesday, May 11, Jay Farner purchased 26,600 shares of Rocket Companies. The shares were acquired at an average cost of $7.52 per share, for a total transaction of $200,032.00.
  • On Monday, May 9, Jay Farner purchased 23,800 shares of Rocket Companies. The shares were acquired at an average cost of $8.40 per share, for a total transaction of $199,920.00.

NYSE RKT traded down $0.09 on Wednesday, hitting $8.60. The company had a trading volume of 2,511,443 shares, compared to an average volume of 5,177,242 shares. The stock’s 50-day moving average is $9.18 and its 200-day moving average is $11.92. The stock has a market capitalization of $16.94 billion, a price/earnings ratio of 5.23, a PEG ratio of 3.09 and a beta of 1.38. The company has a quick ratio of 13.54, a current ratio of 13.54 and a leverage ratio of 1.40. Rocket Companies, Inc. has a 52-week low of $6.91 and a 52-week high of $22.68.

Rocket Companies (NYSE: RKTGet a rating) last released its quarterly earnings data on Tuesday, May 10. The company reported EPS of $0.12 for the quarter, missing analyst consensus estimates of $0.16 per ($0.04). The company posted revenue of $1.93 billion in the quarter, versus a consensus estimate of $2.24 billion. Rocket Companies had a net margin of 2.16% and a return on equity of 31.45%. The company’s revenue for the quarter decreased 52.2% compared to the same quarter last year. In the same quarter a year earlier, the company posted EPS of $0.55. As a group, analysts expect Rocket Companies, Inc. to post EPS of 0.27 for the current year.

A number of large investors have recently bought and sold shares of the company. Invesco Ltd. increased its stake in Rocket Companies by 4.8% in the first quarter. Invesco Ltd. now owns 10,789,221 shares of the company valued at $119,975,000 after acquiring an additional 490,407 shares during the period. Vanguard Group Inc. increased its stake in Rocket Companies by 29.0% in the first quarter. Vanguard Group Inc. now owns 10,028,437 shares of the company valued at $111,517,000 after acquiring an additional 2,252,066 shares during the period. BlackRock Inc. increased its stake in Rocket Companies by 2.7% in the first quarter. BlackRock Inc. now owns 6,684,239 shares of the company valued at $74,328,000 after acquiring an additional 178,545 shares during the period. State Street Corp increased its stake in Rocket Companies by 11.3% in the first quarter. State Street Corp now owns 5,395,785 shares of the company valued at $60,001,000 after acquiring an additional 548,077 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Rocket Companies by 378.7% in the first quarter. Renaissance Technologies LLC now owns 2,357,100 shares of the company valued at $26,211,000 after acquiring an additional 1,864,700 shares during the period. 3.71% of the shares are held by hedge funds and other institutional investors.

Several brokerages commented on RKT. Morgan Stanley lowered its price target on Rocket Companies from $12.00 to $11.00 and set an “equal weight” rating on the stock in a Thursday, April 7 research report. Zacks Investment Research downgraded Rocket Companies from a “hold” rating to a “strong sell” rating in a Wednesday, March 2, report. Argus downgraded Rocket Companies from a “buy” rating to a “hold” rating in a Tuesday, May 31 report. Bank of America downgraded Rocket Companies from a “neutral” rating to an “underperforming” rating and lowered its price target for the stock from $21.00 to $11.00 in a Tuesday, February 22 report . Finally, Keefe, Bruyette & Woods downgraded the Rocket companies from an “underperforming” rating to a “market performing” rating and lowered their price target for the company from $10.00 to 7, $00 in a research note from Sunday, May 15. Two analysts gave the stock a sell rating, eleven gave the company a hold rating and one gave the company a buy rating. According to data from MarketBeat, Rocket Companies currently has an average rating of “Hold” and an average target price of $12.97.

Company Profile Rocket Companies (Get a rating)

Rocket Companies, Inc. operates in the technology-driven real estate, mortgage, and e-commerce industries 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 which provides title insurance, real estate appraisal and settlement services; Rocket Homes, a home search platform and realtor referral network, which offers technology services to support the home buying and selling experience; Rocket Auto, an automotive retail marketplace that provides centralized, virtual car-selling support to online car-buying platforms; and Rocket Loans, an online personal loan company.

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Insider buying and selling by quarter for rocket companies (NYSE: RKT)



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