Director of Rocket Companies, Inc. (NYSE:RKT) Acquires $21,650.00 in Stock
Rocket Companies, Inc. (NYSE: RKT – Get Rating) Director Matthew Rizik purchased 2,500 shares of the company in a trade dated Thursday, July 7. The stock was purchased at an average price of $8.66 per share, for a total transaction of $21,650.00. Following the acquisition, the administrator now directly owns 242,602 shares of the company, valued at $2,100,933.32. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Matthew Rizik also recently made the following trade(s):
- On Tuesday, July 5, Matthew Rizik acquired 2,700 shares of Rocket Companies. The shares were purchased at an average cost of $7.86 per share, with a total value of $21,222.00.
- On Friday, July 1, Matthew Rizik purchased 2,800 shares of Rocket Companies. The shares were purchased at an average cost of $7.62 per share, for a total transaction of $21,336.00.
- On Wednesday, June 29, Matthew Rizik purchased 2,900 shares of Rocket Companies. The shares were purchased at an average cost of $7.22 per share, with a total value of $20,938.00.
- On Monday, June 27, Matthew Rizik acquired 2,800 shares of Rocket Companies. The shares were purchased at an average price of $7.73 per share, for a total transaction of $21,644.00.
- On Thursday, June 23, Matthew Rizik purchased 3,000 shares of Rocket Companies. The shares were purchased at an average price of $7.16 per share, with a total value of $21,480.00.
- On Tuesday, June 21, Matthew Rizik purchased 3,200 shares of Rocket Companies. The shares were acquired at an average price of $6.73 per share, for a total transaction of $21,536.00.
- On Friday, June 17, Matthew Rizik acquired 3,400 shares of Rocket Companies. The shares were acquired at an average price of $6.46 per share, with a total value of $21,964.00.
- 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, for a total transaction of $21,638.00.
- On Monday, June 13, Matthew Rizik purchased 2,900 shares of Rocket Companies. The shares were acquired at an average price of $7.35 per share, with a total value of $21,315.00.
RKT shares opened at $8.56 on Friday. 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 one-year low of $6.27 and a one-year high of $19.55. The company has a 50-day simple moving average of $8.17 and a two-hundred-day simple moving average of $10.61. The company has a market capitalization of $16.86 billion, a PE ratio of 5.16, a growth price-earnings ratio of 3.31 and a beta of 1.41.
Rocket Companies (NYSE:RKT – Get Rating) last announced its results on Tuesday, May 10. The company reported earnings per share (EPS) of $0.12 for the quarter, missing the consensus estimate 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. During the same period of the previous year, the company posted EPS of $0.55. The company’s revenue was down 52.2% year over year. Analysts expect Rocket Companies, Inc. to post EPS of 0.26 for the current fiscal year.
A number of institutional investors and hedge funds have recently bought and sold shares of the company. Moors & Cabot Inc. purchased a new stake in shares of Rocket Companies during Q3 for $31,000. Rockefeller Capital Management LP increased its stake in Rocket Companies by 173.2% during the fourth quarter. Rockefeller Capital Management LP now owns 3,500 shares of the company worth $49,000 after acquiring 2,219 additional shares last quarter. US Bancorp DE increased its stake in Rocket Companies by 341.4% in the first quarter. US Bancorp DE now owns 4,414 shares of the company worth $49,000 after purchasing an additional 3,414 shares during the period. Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of Rocket Companies during the first quarter worth about $52,000. Finally, the New York State Teachers’ Retirement System bought a new stock position in Rocket Companies during the fourth quarter, valued at around $73,000. Institutional investors and hedge funds own 3.71% of the company’s shares.
A number of research companies have weighed in on RKT recently. Citigroup downgraded Rocket Companies from a “buy” rating to a “neutral” rating and lowered its target price for the company from $14.00 to $8.00 in a Wednesday, May 11 research note. Keefe, Bruyette & Woods moved 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 Sunday May 15 research note. Goldman Sachs Group cut its price target on Rocket Companies shares from $14.00 to $11.50 and set a “neutral” rating on the stock in a Monday, April 4 report. Wells Fargo & Company upgraded shares of Rocket Companies from an “equal weight” rating to an “overweight” rating and set a price target of $10.00 for the company in a report released Wednesday. Finally, Royal Bank of Canada cut its price target on Rocket Companies shares from $18.00 to $9.00 in a Thursday, May 12 report. One financial analyst has assigned the stock a sell rating, ten have assigned a hold rating and two have assigned the stock a buy rating. According to data from MarketBeat.com, Rocket Companies has an average rating of “Hold” and a consensus target price of $11.35.
About Rocket Companies (Get an evaluation)
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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