Rocket Companies, Inc. (NYSE:RKT) CEO Buys 22,400 Shares


Rocket Companies, Inc. (NYSE:RKT – Get Rating) CEO Jay Farner acquired 22,400 shares of Rocket Companies stock in a transaction on Thursday, May 19th. The stock was acquired at an average price of $8.91 per share, with a total value of $199,584.00. Following the purchase, the chief executive officer now directly owns 2,252,207 shares in the company, valued at $20,067,164.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

  • On Monday, May 16th, Jay Farner purchased 23,700 shares of Rocket Companies stock. The stock was bought at an average cost of $8.43 per share, for a total transaction of $199,791.00.
  • On Friday, May 13th, Jay Farner acquired 24,300 shares of Rocket Companies stock. The shares were bought at an average price of $8.22 per share, with a total value of $199,746.00.
  • On Wednesday, May 11th, Jay Farner bought 26,600 shares of Rocket Companies stock. The stock was bought at an average price of $7.52 per share, for a total transaction of $200,032.00.
  • On Monday, May 9th, Jay Farner purchased 23,800 shares of Rocket Companies stock. The shares were bought at an average price of $8.40 per share, with a total value of $199,920.00.
  • On Friday, May 6th, Jay Farner acquired 23,500 shares of Rocket Companies stock. The stock was purchased at an average price of $8.48 per share, for a total transaction of $199,280.00.
  • On Wednesday, May 4th, Jay Farner bought 21,700 shares of Rocket Companies stock. The stock was purchased at an average price of $9.21 per share, for a total transaction of $199,857.00.
  • On Monday, May 2nd, Jay Farner purchased 22,300 shares of Rocket Companies stock. The shares were purchased at an average price of $8.96 per share, with a total value of $199,808.00.
  • On Friday, April 29th, Jay Farner acquired 22,200 shares of Rocket Companies stock. The stock was purchased at an average price of $8.98 per share, for a total transaction of $199,356.00.
  • On Wednesday, April 27th, Jay Farner bought 22,800 shares of Rocket Companies stock. The stock was acquired at an average price of $8.75 per share, with a total value of $199,500.00.
  • On Monday, April 25th, Jay Farner purchased 21,700 shares of Rocket Companies stock. The shares were acquired at an average price of $9.21 per share, for a total transaction of $199,857.00.

NYSE:RKT traded down $0.09 during trading hours on Friday, reaching $8.90. The company’s stock had a trading volume of 4,595,583 shares, compared to its average volume of 5,418,365. The company has a debt-to-equity ratio of 1.40, a quick ratio of 13.54 and a current ratio of 13.54. The firm has a market capitalization of $17.53 billion, a price-to-earnings ratio of 5.42, a PEG ratio of 1.95 and a beta of 1.39. The firm has a 50-day simple moving average of $9.64 and a 200-day simple moving average of $12.65. Rocket Companies, Inc. has a 1 year low of $6.91 and a 1 year high of $22.68.

Rocket Companies (NYSE:RKT – Get Rating) last released its quarterly earnings data on Tuesday, May 10th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.04). The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Rocket Companies had a return on equity of 31.45% and a net margin of 2.16%. The firm’s quarterly revenue was down 52.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.55 EPS. Equities analysts anticipate that Rocket Companies, Inc. will post 0.44 earnings per share for the current fiscal year.

The business also recently disclosed a dividend, which was paid on Tuesday, March 22nd. Stockholders of record on Tuesday, March 8th were paid a dividend of $1.01 per share. The ex-dividend date was Monday, March 7th.

Several institutional investors have recently modified their holdings of RKT. Rockefeller Capital Management LP raised its holdings in Rocket Companies by 173.2% during the 4th quarter. Rockefeller Capital Management LP now owns 3,500 shares of the company’s stock valued at $49,000 after buying an additional 2,219 shares during the last quarter. Ancora Advisors LLC purchased a new position in shares of Rocket Companies in the first quarter valued at about $81,000. Patriot Financial Group Insurance Agency LLC raised its stake in shares of Rocket Companies by 111.6% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 3,640 shares of the company’s stock valued at $58,000 after acquiring an additional 1,920 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Rocket Companies by 341.4% during the first quarter. US Bancorp DE now owns 4,414 shares of the company’s stock worth $49,000 after purchasing an additional 3,414 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of Rocket Companies during the first quarter worth about $52,000. Hedge funds and other institutional investors own 3.71% of the company’s stock.

A number of equities research analysts have issued reports on the stock. Credit Suisse Group lowered their target price on shares of Rocket Companies to $9.00 and set a “neutral” rating on the stock in a report on Thursday. Citigroup lowered Rocket Companies from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $14.00 to $8.00 in a research note on Wednesday, May 11th. Barclays cut their target price on Rocket Companies from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 12th. Zacks Investment Research cut Rocket Companies from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 2nd. Finally, Morgan Stanley reduced their price objective on shares of Rocket Companies from $12.00 to $11.00 and set an “equal weight” rating for the company in a research note on Thursday, April 7th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $12.97.

Rocket Companies Company Profile (GetRated)

Rocket Companies, Inc engages in the tech-driven real estate, mortgage, and e-Commerce businesses 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 that provides title insurance, property valuation, and settlement services; Rocket Homes, a home search platform and real estate agent referral network, which offers technology-enabled services to support the home buying and selling experience; Rocket Auto, an automotive retail marketplace that provides centralized and virtual car sales support to online car purchasing platforms; and Rocket Loans, an online-based personal loans business.

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