Rocket Companies (NYSE:RKT) Director Sells $47,925.00 in Stock

Rocket Companies, Inc. (NYSE:RKT) Director Matthew Rizik sold 2,500 shares of the stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $19.17, for a total transaction of $47,925.00. Following the transaction, the director owned 1,091,036 shares in the company, valued at $20,915,160.12. The trade was a 0.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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 transaction of $47,475.00.
• 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 transaction of $46,950.00.
• On Thursday, December 4th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The stock was 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 value of $48,225.00.
• On Monday, November 17th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The shares were 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 stock was sold at an average price of $17.47, for a total transaction of $43,675.00.

Rocket Companies Stock Down 3.4%

Rocket Companies stock traded down $0.66 during trading hours on Friday, hitting $18.70. 13,691,949 shares of the stock traded hands, compared to its average volume of 20,438,932. Rocket Companies, Inc. has a one year low of $10.06 and a one year high of $22.56. The company has a market cap of $39.35 billion, a PE ratio of 233.73 and a beta of 2.26. The company has a current ratio of 19.68, a quick ratio of 19.68 and a debt-to-equity ratio of 2.16. The firm’s 50-day moving average price is $17.59 and its two-hundred day moving average price is $16.79.

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, hitting analysts’ consensus estimates of $0.07. The company had revenue of $1.78 billion during the quarter, compared to analyst estimates 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 period in the previous year, the business earned $0.08 EPS. On average, research analysts forecast that Rocket Companies, Inc. will post 0.15 EPS for the current year.

Institutional Trading of Rocket Companies

A number of hedge funds and other institutional investors have recently made changes to their positions in RKT. Allworth Financial LP boosted its holdings in Rocket Companies by 85.8% during the 3rd quarter. Allworth Financial LP now owns 3,243 shares of the company’s stock valued at $63,000 after acquiring an additional 1,498 shares during the period. IFP Advisors Inc increased its position in shares of Rocket Companies by 26.2% during 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 in the last quarter. Polar Asset Management Partners Inc. purchased a new stake in Rocket Companies in the 3rd quarter valued at $957,000. CIBC Private Wealth Group LLC raised its stake in Rocket Companies by 15.5% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 57,011 shares of the company’s stock valued at $1,105,000 after acquiring an additional 7,639 shares during the last quarter. Finally, Prana Capital Management LP lifted its holdings in shares of Rocket Companies by 5.9% during the third quarter. Prana Capital Management LP now owns 284,899 shares of the company’s stock worth $5,521,000 after purchasing an additional 15,869 shares during the period. Institutional investors and hedge funds own 4.59% of the company’s stock.

Wall Street Analysts Forecast Growth

RKT has been the topic of a number of research reports. Wells Fargo & Company lifted their price target on shares of Rocket Companies from $15.00 to $17.00 and gave the company an “equal weight” rating in a report on Wednesday, November 5th. Wall Street Zen lowered shares of Rocket Companies from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Zacks Research raised shares of Rocket Companies from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 14th. Royal Bank Of Canada upped their price objective on Rocket Companies from $17.00 to $20.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 8th. Finally, Oppenheimer started coverage on Rocket Companies in a research report on Thursday, November 13th. They issued an “outperform” rating and a $25.00 price objective for the company. Four equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Rocket Companies presently has a consensus rating of “Hold” and an average target price of $18.18.

About Rocket Companies

Rocket Companies, Inc, a fintech holding company, provides mortgage lending, title and settlement services, and other financial technology services 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; and Rocket Loans, an online-based personal loans business.