Jay Farner buys 19,800 shares of Rocket Companies, Inc. (NYSE: RKT)

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Rocket Companies, Inc. (NYSE: RKTGet a rating) CEO Jay Farner bought 19,800 shares of the company in a transaction that took place on Wednesday, August 10. The shares were purchased at an average price of $10.06 per share, for a total transaction of $199,188.00. Following the acquisition, the CEO now directly owns 3,568,407 shares of the company, valued at approximately $35,898,174.42. The acquisition was disclosed in a filing with the SEC, accessible via this hyperlink.

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

  • On Monday, August 8, Jay Farner purchased 20,700 shares of Rocket Companies. The shares were purchased at an average price of $9.60 per share, for a total transaction of $198,720.00.
  • On Friday August 5, Jay Farner purchased 20,600 shares of Rocket Companies. The shares were purchased at an average price of $9.68 per share, for a total transaction of $199,408.00.
  • On Wednesday August 3, Jay Farner purchased 19,500 shares of Rocket Companies. The shares were purchased at an average price of $10.24 per share, for a total transaction of $199,680.00.
  • On Monday, August 1, Jay Farner purchased 20,500 shares of Rocket Companies. The shares were purchased at an average price of $9.72 per share, for a total transaction of $199,260.00.
  • On Friday, July 29, Jay Farner purchased 21,000 shares of Rocket Companies. The shares were acquired at an average price of $9.49 per share, for a total transaction of $199,290.00.
  • On Wednesday, July 27, Jay Farner purchased 21,500 shares of Rocket Companies. The shares were acquired at an average price of $9.28 per share, for a total transaction of $199,520.00.
  • On Monday, July 25, Jay Farner purchased 20,900 shares of Rocket Companies. The shares were acquired at an average price of $9.54 per share, for a total transaction of $199,386.00.
  • On Friday, July 22, Jay Farner purchased 20,700 shares of Rocket Companies. The shares were acquired at an average price of $9.64 per share, for a total transaction of $199,548.00.
  • On Wednesday, July 20, Jay Farner purchased 21,300 shares of Rocket Companies. The shares were acquired at an average price of $9.40 per share, for a total transaction of $200,220.00.
  • On Monday, July 18, Jay Farner purchased 21,900 shares of Rocket Companies. The shares were acquired at an average price of $9.11 per share, for a total transaction of $199,509.00.

Rocket Company Price Performance

Shares of NYSE RKT opened at $10.49 on Friday. The company has a debt ratio of 1.46, a quick ratio of 13.54 and a current ratio of 14.97. The company has a market capitalization of $20.66 billion, a PE ratio of 8.20, a P/E/G ratio of 9.09 and a beta of 1.72. The company has a 50-day simple moving average of $8.53 and a two-hundred-day simple moving average of $9.87. Rocket Companies, Inc. has a fifty-two week low of $6.27 and a fifty-two week high of $19.55.

Rocket Companies (NYSE: RKTGet a rating) last released its quarterly results on Thursday, August 4. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.02 per ($0.05). The company posted revenue of $1.39 billion in the quarter, versus analyst estimates of $1.53 billion. Rocket Companies had a return on equity of 19.79% and a net margin of 1.85%. Rocket Companies revenue was down 47.8% from the same quarter last year. During the same period a year earlier, the company posted EPS of $0.44. As a group, stock analysts expect Rocket Companies, Inc. to post EPS of 0.21 for the current fiscal year.

Institutional investors weigh in on rocket companies

Several institutional investors have recently increased or reduced their stake in the company. Invesco Ltd. increased its holdings in Rocket Companies by 4.8% in the first quarter. Invesco Ltd. now owns 10,789,221 shares of the company worth $119,975,000 after acquiring an additional 490,407 shares last quarter. 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 worth $111,517,000 after acquiring 2,252,066 additional shares in the last quarter. BlackRock Inc. increased its stake in shares of Rocket Companies by 2.7% in the first quarter. BlackRock Inc. now owns 6,684,239 shares of the company worth $74,328,000 after purchasing an additional 178,545 shares in the last quarter. State Street Corp increased its stake in shares of Rocket Companies by 11.3% in the first quarter. State Street Corp now owns 5,395,785 shares of the company worth $60,001,000 after purchasing an additional 548,077 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Rocket Companies by 378.7% in the first quarter. Renaissance Technologies LLC now owns 2,357,100 shares of the company worth $26,211,000 after purchasing an additional 1,864,700 shares in the last quarter. Institutional investors and hedge funds own 3.71% of the company’s shares.

A Wall Street analyst gives his opinion

A number of stock analysts have recently released reports on the company. Credit Suisse Group lowered its price target on Rocket Companies to $9.00 and gave the stock a “neutral” rating in a Thursday, May 19 research report. Royal Bank of Canada lowered its price target on Rocket Companies from $18.00 to $9.00 in a Thursday, May 12 research report. Wells Fargo & Company upgraded Rocket Companies from an “equal weight” rating to an “overweight” rating and set a $10.00 price target on the stock in a Wednesday, July 6 research report. Wedbush lowered its price target on Rocket Companies to $7.00 and gave the stock an “na” rating in a Tuesday, May 17 research report. Finally, Barclays lowered its price target on Rocket Companies to $7.00 in a research report on Tuesday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned the company a buy rating. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $10.42.

About 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.

Further reading

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



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