Rocket Companies (NYSE:RKT) Director Matthew Rizik Sells 2,500 Shares of Stock

Rocket Companies, Inc. (NYSE:RKT) Director Matthew Rizik sold 2,500 shares of Rocket Companies stock in a transaction that occurred on Monday, December 29th. The stock was sold at an average price of $19.25, for a total transaction of $48,125.00. Following the completion of the sale, the director directly owned 1,061,036 shares of the company’s stock, valued at approximately $20,424,943. This trade represents a 0.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Friday, December 26th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The stock was sold at an average price of $19.38, for a total value of $48,450.00.
• 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 shares were 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 stock was 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 shares were 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 stock was sold at an average price of $19.29, for a total transaction of $48,225.00.

Rocket Companies Stock Performance

Shares of Rocket Companies stock traded down $0.69 on Wednesday, hitting $19.37. 17,326,518 shares of the company’s stock were exchanged, compared to its average volume of 20,295,064. Rocket Companies, Inc. has a 1 year low of $10.06 and a 1 year high of $22.56. The company has a 50-day simple moving average of $18.18 and a 200-day simple moving average of $17.39. The company has a debt-to-equity ratio of 2.16, a quick ratio of 19.68 and a current ratio of 19.68. The stock has a market capitalization of $40.76 billion, a PE ratio of 242.16 and a beta of 2.26.

Rocket Companies (NYSE:RKT) last announced its earnings results on Thursday, October 30th. The company reported $0.07 EPS for the quarter, hitting analysts’ consensus estimates of $0.07. Rocket Companies had a positive return on equity of 2.83% and a negative net margin of 1.77%.The company had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same period last year, the firm earned $0.08 EPS. Rocket Companies’s revenue for the quarter was up 148.1% compared to the same quarter last year. As a group, equities analysts anticipate that Rocket Companies, Inc. will post 0.15 EPS for the current year.

Hedge Funds Weigh In On Rocket Companies

Hedge funds and other institutional investors have recently modified their holdings of the stock. AIA Group Ltd purchased a new position in Rocket Companies during the third quarter valued at $377,000. Hudson Bay Capital Management LP purchased a new position in shares of Rocket Companies during the third quarter valued at about $13,728,000. Allworth Financial LP increased its holdings in shares of Rocket Companies by 85.8% in the third quarter. Allworth Financial LP now owns 3,243 shares of the company’s stock worth $63,000 after purchasing an additional 1,498 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of Rocket Companies by 26.2% in the third quarter. IFP Advisors Inc now owns 7,696 shares of the company’s stock worth $157,000 after purchasing an additional 1,596 shares during the last quarter. Finally, Polar Asset Management Partners Inc. purchased a new stake in shares of Rocket Companies in the third quarter worth about $957,000. Institutional investors own 4.59% of the company’s stock.

Wall Street Analysts Forecast Growth

RKT has been the subject of several analyst reports. Wall Street Zen lowered shares of Rocket Companies from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. UBS Group set a $17.00 price objective on shares of Rocket Companies and gave the stock a “neutral” rating in a research note on Friday, October 10th. BTIG Research restated a “buy” rating and set a $25.00 price objective on shares of Rocket Companies in a research report on Wednesday, November 19th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Rocket Companies in a report on Monday, October 13th. Finally, Keefe, Bruyette & Woods increased their price target on Rocket Companies from $18.00 to $20.00 and gave the stock a “market perform” rating in a research note on Thursday, December 18th. Five equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Rocket Companies has an average rating of “Hold” and a consensus price target of $19.32.

Rocket Companies Company Profile

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.