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 Friday, December 26th. The stock was sold at an average price of $19.38, for a total value of $48,450.00. Following the transaction, the director owned 1,063,536 shares in the company, valued at approximately $20,611,327.68. This represents a 0.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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 stock was sold at an average price of $19.21, for a total transaction of $48,025.00.
• On Wednesday, December 17th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The shares were sold at an average price of $18.21, for a total transaction 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 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 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.
• 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.

Rocket Companies Stock Down 0.0%

Rocket Companies stock traded down $0.01 during mid-day trading on Monday, reaching $19.40. The company’s stock had a trading volume of 11,028,459 shares, compared to its average volume of 20,234,496. The business’s 50 day simple moving average is $18.08 and its 200 day simple moving average is $17.31. 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 12 month low of $10.06 and a 12 month high of $22.56. The company has a market capitalization of $40.83 billion, a price-to-earnings ratio of 242.57 and a beta of 2.26.

Rocket Companies (NYSE:RKT) last announced its quarterly earnings data on Thursday, October 30th. The company reported $0.07 earnings per share for the quarter, meeting the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter last year, the company 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, research analysts anticipate that Rocket Companies, Inc. will post 0.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on RKT shares. Bank of America raised shares of Rocket Companies from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $21.00 to $24.00 in a research note on Wednesday, September 10th. Royal Bank Of Canada lifted their price target on Rocket Companies from $17.00 to $20.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 8th. Jefferies Financial Group began coverage on Rocket Companies in a research note on Friday, December 19th. They issued a “buy” rating and a $25.00 price objective on the stock. UBS Group set a $17.00 target price on Rocket Companies and gave the stock a “neutral” rating in a research note on Friday, October 10th. Finally, Barclays set a $19.00 price objective on shares of Rocket Companies and gave the company a “cautious” rating in a research note on Monday, October 6th. Five analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $19.32.

Institutional Investors Weigh In On Rocket Companies

Hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. raised its position in shares of Rocket Companies by 804.9% during the first quarter. Russell Investments Group Ltd. now owns 13,800 shares of the company’s stock worth $167,000 after purchasing an additional 12,275 shares during the period. Raymond James Financial Inc. increased its stake in Rocket Companies by 17.5% during the 1st quarter. Raymond James Financial Inc. now owns 361,975 shares of the company’s stock valued at $4,369,000 after purchasing an additional 53,887 shares in the last quarter. State of Wyoming raised its holdings in Rocket Companies by 36.9% during the first quarter. State of Wyoming now owns 26,926 shares of the company’s stock worth $325,000 after buying an additional 7,262 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in Rocket Companies by 39.3% during the first quarter. Canada Pension Plan Investment Board now owns 156,054 shares of the company’s stock worth $1,884,000 after buying an additional 44,064 shares during the last quarter. Finally, Vident Advisory LLC lifted its stake in shares of Rocket Companies by 16.2% in the first quarter. Vident Advisory LLC now owns 35,794 shares of the company’s stock valued at $432,000 after buying an additional 4,996 shares in the last quarter. 4.59% of the stock is currently owned by institutional investors.

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.