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

Rocket Companies, Inc. (NYSE:RKT) Director Matthew Rizik sold 2,500 shares of Rocket Companies stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $18.21, for a total value of $45,525.00. Following the transaction, the director owned 1,078,536 shares of the company’s stock, valued at $19,640,140.56. The trade was a 0.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• 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 value 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 value of $47,925.00.
• On Monday, December 8th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The shares were sold at an average price of $18.78, for a total value 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 value 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 value of $48,225.00.
• On Monday, November 17th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The stock was sold at an average price of $16.70, for a total transaction of $41,750.00.
• On Thursday, November 13th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The shares were sold at an average price of $17.47, for a total transaction of $43,675.00.

Rocket Companies Stock Performance

RKT opened at $19.08 on Friday. The firm has a fifty day moving average price of $17.81 and a 200 day moving average price of $17.05. Rocket Companies, Inc. has a 1 year low of $10.06 and a 1 year high of $22.56. The stock has a market cap of $40.15 billion, a P/E ratio of 238.53 and a beta of 2.26. The company has a debt-to-equity ratio of 2.16, a current ratio of 19.68 and a quick ratio of 19.68.

Rocket Companies (NYSE:RKT) last released its quarterly earnings data on Thursday, October 30th. The company reported $0.07 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.07. The company had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Rocket Companies had a negative net margin of 1.77% and a positive return on equity of 2.83%. The firm’s revenue for the quarter was up 148.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.08 earnings per share. Equities research analysts anticipate that Rocket Companies, Inc. will post 0.15 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on RKT shares. Oppenheimer started coverage on Rocket Companies in a research report on Thursday, November 13th. They set an “outperform” rating and a $25.00 price target on the stock. Keefe, Bruyette & Woods upped their target price on Rocket Companies from $18.00 to $20.00 and gave the stock a “market perform” rating in a research note on Thursday. Jefferies Financial Group assumed coverage on Rocket Companies in a research report on Friday. They set a “buy” rating and a $25.00 target price on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of Rocket Companies in a research note on Monday, December 15th. Finally, BTIG Research reissued a “buy” rating and issued a $25.00 price target on shares of Rocket Companies in a report on Wednesday, November 19th. Five equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Rocket Companies has a consensus rating of “Hold” and an average price target of $19.32.

Institutional Trading of Rocket Companies

Institutional investors have recently made changes to their positions in the company. ValueAct Holdings L.P. raised its stake in Rocket Companies by 67.9% in the 3rd quarter. ValueAct Holdings L.P. now owns 25,395,627 shares of the company’s stock valued at $492,167,000 after purchasing an additional 10,270,018 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Rocket Companies by 29.5% during the third quarter. Vanguard Group Inc. now owns 22,945,500 shares of the company’s stock worth $444,684,000 after buying an additional 5,226,931 shares in the last quarter. Boston Partners grew its holdings in shares of Rocket Companies by 6.2% during the second quarter. Boston Partners now owns 14,560,706 shares of the company’s stock worth $206,610,000 after buying an additional 856,367 shares in the last quarter. Durable Capital Partners LP acquired a new stake in shares of Rocket Companies in the third quarter valued at about $213,010,000. Finally, Wellington Management Group LLP lifted its stake in shares of Rocket Companies by 30.6% in the third quarter. Wellington Management Group LLP now owns 6,298,220 shares of the company’s stock worth $122,060,000 after buying an additional 1,474,040 shares in the last quarter. 4.59% of the stock is 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.