Rocket Companies, Inc. (NYSE:RKT) CEO buys 22,400 shares



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

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

  • On Monday, May 16, Jay Farner purchased 23,700 shares of Rocket Companies. The stock was purchased at an average price of $8.43 per share, for a total transaction of $199,791.00.
  • On Friday, May 13, Jay Farner acquired 24,300 shares of Rocket Companies. The shares were purchased at an average price of $8.22 per share, with a total value of $199,746.00.
  • On Wednesday, May 11, Jay Farner purchased 26,600 shares of Rocket Companies. The stock was purchased at an average price of $7.52 per share, for a total transaction of $200,032.00.
  • On Monday, May 9, Jay Farner purchased 23,800 shares of Rocket Companies. The shares were purchased at an average price of $8.40 per share, with a total value of $199,920.00.
  • On Friday, May 6, Jay Farner acquired 23,500 shares of Rocket Companies. The shares were purchased at an average price of $8.48 per share, for a total transaction of $199,280.00.
  • On Wednesday, May 4, Jay Farner purchased 21,700 shares of Rocket Companies. The shares were purchased at an average price of $9.21 per share, for a total transaction of $199,857.00.
  • On Monday, May 2, Jay Farner purchased 22,300 shares of Rocket Companies. The shares were purchased at an average price of $8.96 per share, with a total value of $199,808.00.
  • On Friday, April 29, Jay Farner acquired 22,200 shares of Rocket Companies. The shares were purchased at an average price of $8.98 per share, for a total transaction of $199,356.00.
  • On Wednesday, April 27, Jay Farner purchased 22,800 shares of Rocket Companies. The shares were acquired at an average price of $8.75 per share, with a total value of $199,500.00.
  • On Monday, April 25, Jay Farner purchased 21,700 shares of Rocket Companies. 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 Friday trading hours, hitting $8.90. The company’s shares had a trading volume of 4,595,583 shares, compared to its average volume of 5,418,365. The company has a debt ratio of 1.40, a quick ratio of 13.54 and a current 13.54. The company has a market capitalization of $17.53 billion, a price/earnings ratio of 5.42, a PEG ratio of 1.95 and a beta of 1.39. The company 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: RKTGet a rating) last released its quarterly earnings data on Tuesday, May 10. The company reported EPS of $0.12 for the quarter, missing the consensus estimate of $0.16 per ($0.04). The company posted revenue of $1.93 billion in the quarter, versus $2.24 billion expected by analysts. Rocket Companies had a return on equity of 31.45% and a net margin of 2.16%. The company’s quarterly revenue was down 52.2% year over year. In the same quarter a year earlier, the company posted EPS of $0.55. Stock analysts expect Rocket Companies, Inc. to post earnings per share of 0.44 for the current fiscal year.

The company also recently disclosed a dividend, which was paid on Tuesday, March 22. Shareholders of record on Tuesday, March 8 received a dividend of $1.01 per share. The ex-dividend date was Monday, March 7.

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

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

Company Profile 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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