Rocket Companies (NYSE:RKT) Director Sells $48,450.00 in Stock

Rocket Companies, Inc. (NYSE:RKT) Director Matthew Rizik sold 2,500 shares of the company’s stock in a transaction on Friday, December 26th. The shares were sold at an average price of $19.38, for a total value of $48,450.00. Following the completion of the transaction, the director directly owned 1,063,536 shares in the company, valued at $20,611,327.68. This represents a 0.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Wednesday, December 24th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The stock was sold at an average price of $19.44, for a total value of $48,600.00.
• On Monday, December 22nd, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The shares were sold at an average price of $18.99, for a total value of $47,475.00.
• On Friday, December 19th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The shares were sold at an average price of $19.21, for a total value of $48,025.00.
• On Wednesday, December 17th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The stock was sold at an average price of $18.21, for a total value of $45,525.00.
• 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 transaction 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 transaction of $46,950.00.
• On Thursday, December 4th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The stock was sold at an average price of $19.86, for a total transaction of $49,650.00.
• On Tuesday, November 25th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The shares were 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 shares were sold at an average price of $16.70, for a total value of $41,750.00.

Rocket Companies Stock Down 0.0%

NYSE:RKT traded down $0.01 during trading hours on Monday, hitting $19.40. 11,028,459 shares of the company’s stock traded hands, compared to its average volume of 20,234,496. The stock’s fifty day moving average price is $18.08 and its two-hundred day moving average price is $17.31. The firm has a market cap of $40.83 billion, a P/E ratio of 242.57 and a beta of 2.26. The company has a debt-to-equity ratio of 2.16, a quick ratio of 19.68 and a current ratio of 19.68. Rocket Companies, Inc. has a twelve month low of $10.06 and a twelve month high of $22.56.

Rocket Companies (NYSE:RKT) last released its earnings results on Thursday, October 30th. The company reported $0.07 earnings per share for the quarter, meeting the consensus estimate 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 positive return on equity of 2.83% and a negative net margin of 1.77%.The business’s revenue for the quarter was up 148.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.08 EPS. On average, research analysts expect that Rocket Companies, Inc. will post 0.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on RKT shares. Wall Street Zen cut Rocket Companies from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Oppenheimer initiated coverage on Rocket Companies in a report on Thursday, November 13th. They set an “outperform” rating and a $25.00 price target for the company. Jefferies Financial Group initiated coverage on Rocket Companies in a research note on Friday, December 19th. They issued a “buy” rating and a $25.00 price target for the company. UBS Group set a $17.00 price objective on shares of Rocket Companies and gave the company a “neutral” rating in a research report on Friday, October 10th. Finally, BTIG Research reissued a “buy” rating and issued a $25.00 target price on shares of Rocket Companies in a research report on Wednesday, November 19th. Five analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $19.32.

Institutional Trading of Rocket Companies

Several institutional investors have recently made changes to their positions in RKT. Lincoln Capital Corp lifted its stake in shares of Rocket Companies by 304.1% in the 2nd quarter. Lincoln Capital Corp now owns 270,614 shares of the company’s stock valued at $3,837,000 after purchasing an additional 203,639 shares during the period. Woodline Partners LP bought a new stake in shares of Rocket Companies in the 1st quarter valued at about $5,381,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Rocket Companies in the 2nd quarter valued at approximately $44,102,000. MFG Wealth Management Inc. grew its holdings in Rocket Companies by 37.6% during the second quarter. MFG Wealth Management Inc. now owns 177,762 shares of the company’s stock valued at $2,521,000 after purchasing an additional 48,560 shares during the period. Finally, Clifford Capital Partners LLC bought a new stake in Rocket Companies in the second quarter valued at approximately $11,487,000. 4.59% of the stock is currently owned by institutional investors and hedge funds.

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.