Rocket Companies, Inc. (NYSE:RKT) Director Matthew Rizik Buys 3,400 Shares
Rocket Companies, Inc. (NYSE: RKT – Get a rating) Director Matthew Rizik acquired 3,400 shares of Rocket Companies in a transaction that took place on Friday, June 17. The shares were purchased at an average cost of $6.46 per share, for a total transaction of $21,964.00. Following the purchase, the director now directly owns 208,602 shares of the company, valued at approximately $1,347,568.92. The transaction was disclosed in an SEC filing, available at the SEC website.
Matthew Rizik also recently made the following trade(s):
- On Wednesday, June 15, Matthew Rizik purchased 3,100 shares of Rocket Companies. The shares were acquired at an average cost of $6.98 per share, for a total transaction of $21,638.00.
- On Monday, June 13, Matthew Rizik acquired 2,900 shares of Rocket Companies. The shares were purchased at an average cost of $7.35 per share, with a total value of $21,315.00.
NYSE RKT opened at $6.37 on Friday. The company has a quick ratio of 13.54, a current ratio of 13.54 and a leverage ratio of 1.40. The stock has a market capitalization of $12.55 billion, a PE ratio of 3.84, a growth price-earnings ratio of 2.38 and a beta of 1.38. The company has a 50-day moving average price of $8.65 and a two-hundred-day moving average price of $11.49. Rocket Companies, Inc. has a 12-month low of $6.27 and a 12-month high of $20.84.
Rocket Companies (NYSE: RKT – Get a rating) last released its results on Tuesday, May 10. The company reported earnings per share (EPS) of $0.12 for the quarter, missing analyst consensus estimates of $0.16 per ($0.04). The company posted revenue of $1.93 billion in the quarter, versus analyst estimates of $2.24 billion. Rocket Companies had a net margin of 2.16% and a return on equity of 31.45%. Rocket Companies revenue was down 52.2% from the same quarter last year. In the same quarter last year, the company earned $0.55 per share. As a group, stock analysts expect Rocket Companies, Inc. to post EPS of 0.27 for the current year.
A number of research companies have commented on RKT. Goldman Sachs Group lowered 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 research report. Credit Suisse Group lowered its price target on Rocket Companies shares to $9.00 and set a “neutral” rating on the stock in a Thursday, May 19 research report. Bank of America downgraded shares of Rocket Companies from a “neutral” rating to an “underperforming” rating and lowered its price target for the stock from $21.00 to $11.00 in a rating of research from Tuesday, February 22. Keefe, Bruyette & Woods upgraded Rocket Companies shares from an “underperforming” rating to a “market performing” rating and lowered their price target for the stock from $10.00 to 7 $.00 in a research note from Sunday, May 15. Finally, Morgan Stanley lowered its price target on shares of Rocket Companies from $12.00 to $11.00 and set an “equal weight” rating on the stock in a Thursday, April 7 research report. One financial analyst gave the stock a sell rating, eleven gave the company a hold rating and one gave the company a buy rating. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $11.08.
Institutional investors have recently changed their stake in the company. Advisory Services Network LLC purchased a new stake in Rocket Companies during Q1 for approximately $120,000. Wealthfront Advisers LLC purchased a new stake in Rocket Companies during Q1 for approximately $916,000. Advisors Asset Management Inc. increased its stake in Rocket Companies by 11.7% during the 1st quarter. Advisors Asset Management Inc. now owns 89,951 shares of the company worth $1,000,000 after purchasing an additional 9,445 shares in the last quarter. Point72 Hong Kong Ltd increased its stake in Rocket Companies by 84.6% during Q1. Point72 Hong Kong Ltd now owns 12,460 shares of the company worth $139,000 after buying an additional 5,709 shares in the last quarter. Finally, Delphia USA Inc. increased its stake in Rocket Companies by 129.3% during the 1st quarter. Delphia USA Inc. now owns 78,568 shares of the company worth $874,000 after purchasing an additional 44,299 shares in the last quarter. Institutional investors and hedge funds own 3.71% of the company’s shares.
About Rocket Companies (Get a rating)
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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