Rocket Companies, Inc. (NYSE: RKT – Get a rating) Director Matthew Rizik bought 2,900 shares of the company in a transaction that took place on Monday, June 13. The shares were purchased at an average price of $7.35 per share, for a total transaction of $21,315.00. Following the acquisition, the director now owns 195,702 shares of the company, valued at $1,438,409.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, available at this hyperlink.
Matthew Rizik also recently made the following trade(s):
- On Wednesday, June 15, Matthew Rizik purchased 3,100 shares of Rocket Companies. The shares were acquired at an average price of $6.98 per share, with a total value of $21,638.00.
Shares of NYSE RKT traded down $0.02 during Wednesday’s trading, hitting $6.98. The stock recorded a trading volume of 4,850,975 shares, against an average volume of 5,093,040. The company has a fifty-day moving average of $8.85 and a two-hundred-day moving average of 11 $.64. The company has a market capitalization of $13.75 billion, a PE ratio of 4.33, a PEG ratio of 2.88 and a beta of 1.38. The company has a debt ratio of 1.40, a current ratio of 13.54 and a quick ratio of 13.54. Rocket Companies, Inc. has a 12-month low of $6.66 and a 12-month high of $20.84.
Rocket Companies (NYSE: RKT – Get a rating) last released its quarterly earnings data on Tuesday, May 10. The company reported earnings per share (EPS) of $0.12 for the quarter, missing analyst consensus estimates of $0.16 per ($0.04). Rocket Companies had a return on equity of 31.45% and a net margin of 2.16%. The company posted revenue of $1.93 billion in the quarter, versus a consensus estimate of $2.24 billion. In the same period a year earlier, the company posted earnings per share of $0.55. The company’s revenue for the quarter was down 52.2% year over year. On average, stock analysts expect Rocket Companies, Inc. to post earnings per share of 0.27 for the current fiscal year.
Several equity research analysts have recently commented on RKT shares. Goldman Sachs Group cut its price target on Rocket Companies from $14.00 to $11.50 and set a “neutral” rating on the stock in a Monday, April 4 research report. Citigroup downgraded Rocket Companies from a “buy” rating to a “neutral” rating and lowered its price target for the stock from $14.00 to $8.00 in a Wednesday, May 11 report. Argus downgraded shares of Rocket Companies from a “buy” rating to a “hold” rating in a Tuesday, May 31 research note. Keefe, Bruyette & Woods upgraded Rocket Companies shares from an “underperforming” rating to a “market performing” rating and lowered their target price for the company from $10.00 to $7.00 $ in a Sunday May 15 research report. Finally, Bank of America downgraded shares of 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 report for Tuesday 22 February. One analyst rated the security with a sell rating, eleven issued a hold rating and one issued a buy rating for the security. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $11.88.
Institutional investors and hedge funds have recently changed their stock holdings. Invesco Ltd. increased its holdings in Rocket Companies by 39.5% during the third quarter. Invesco Ltd. now owns 9,363,907 shares of the company worth $150,198,000 after acquiring an additional 2,653,662 shares during the period. Vanguard Group Inc. increased its position in shares of Rocket Companies by 29.0% during the 1st quarter. Vanguard Group Inc. now owns 10,028,437 shares of the company valued at $111,517,000 after purchasing an additional 2,252,066 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Rocket Companies by 378.7% during the 1st 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 during the period. Federated Hermes Inc. increased its position in Rocket Companies by 195.2% in the first quarter. Federated Hermes Inc. now owns 1,558,417 shares of the company valued at $17,330,000 after purchasing an additional 1,030,536 shares during the period. Finally, BlackRock Inc. increased its position in Rocket Companies by 17.9% during the fourth quarter. BlackRock Inc. now owns 6,505,694 shares of the company valued at $91,081,000 after purchasing an additional 988,019 shares during the period. 3.71% of the shares are held by institutional investors.
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.
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