Jay Farner buys 22,500 shares of Rocket Companies, Inc. (NYSE: RKT)

Rocket Companies, Inc. (NYSE: RKT – Get a rating) CEO Jay Farner bought 22,500 shares in a trade on Thursday, June 2. The shares were purchased at an average cost of $8.88 per share, with a total value of $199,800.00. As a result of the transaction, the CEO now owns 2,452,207 shares of the company, valued at approximately $21,775,598.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink.

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

  • On Tuesday, May 31, Jay Farner acquired 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 Wednesday, May 25, Jay Farner purchased 22,400 shares of Rocket Companies. The shares were acquired at an average cost of $8.93 per share, with a total value of $200,032.00.
  • On Monday, May 23, Jay Farner purchased 22,600 shares of Rocket Companies. The shares were acquired at an average price of $8.81 per share, for a total transaction of $199,106.00.
  • On Thursday, May 19, Jay Farner acquired 22,400 shares of Rocket Companies. The shares were acquired at an average cost of $8.91 per share, with a total value of $199,584.00.
  • On Monday, May 16, Jay Farner purchased 23,700 shares of Rocket Companies. The shares were acquired at an average price of $8.43 per share, with a total value of $199,791.00.
  • On Friday, May 13, Jay Farner purchased 24,300 shares of Rocket Companies. The shares were acquired at an average price of $8.22 per share, for a total transaction of $199,746.00.
  • On Wednesday, May 11, Jay Farner acquired 26,600 shares of Rocket Companies. The shares were acquired at an average price of $7.52 per share, with a total value of $200,032.00.
  • On Monday, May 9, Jay Farner acquired 23,800 shares of Rocket Companies. The shares were acquired at an average price of $8.40 per share, for a total transaction of $199,920.00.
  • On Friday, May 6, Jay Farner purchased 23,500 shares of Rocket Companies. The shares were acquired at an average price of $8.48 per share, with a total value of $199,280.00.
  • On Wednesday, May 4, Jay Farner purchased 21,700 shares of Rocket Companies. The stock was purchased at an average price of $9.21 per share, with a total value of $199,857.00.
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Shares of NYSE:RKT traded down $0.46 during Friday’s trading, hitting $8.53. The company had a trading volume of 4,789,939 shares, compared to its average volume of 5,248,419. The company’s fifty-day moving average is $9.32 and its 200-day moving average is $12.09. The company has a debt ratio of 1.40, a quick ratio of 13.54 and a current ratio of 13.54. The company has a market capitalization of $16.80 billion, a PE ratio of 5.07, a growth price-earnings ratio of 3.20 and a beta of 1.38. Rocket Companies, Inc. has a 12-month low of $6.91 and a 12-month high of $22.68.

Rocket Companies (NYSE: RKT – Get a rating) last released its quarterly 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). Rocket Companies had a net margin of 2.16% and a return on equity of 31.45%. The company posted revenue of $1.93 billion for the quarter, versus a consensus estimate of $2.24 billion. In the same period a year earlier, the company posted earnings of $0.55 per share. The company’s revenue for the quarter was down 52.2% from the same quarter last year. Stock analysts predict that Rocket Companies, Inc. will post earnings per share of 0.27 for the current fiscal year.

Several brokerages have weighed in on RKT. Royal Bank of Canada lowered its price target on Rocket Companies shares from $18.00 to $9.00 in a report Thursday, May 12. Barclays cut its price target on Rocket Companies from $14.00 to $13.00 and set an “equal weight” rating on the stock in a Tuesday, April 12 report. 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 report. Credit Suisse Group cut its price target on Rocket Companies to $9.00 and set a “neutral” rating on the stock in a Thursday, May 19 research note. Finally, Argus downgraded shares of Rocket Companies from a “buy” rating to a “hold” rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned the company a buy rating. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $12.97.

Large investors have recently increased or reduced their stakes in the stock. Envestnet Asset Management Inc. increased its holdings in Rocket Companies by 163.6% in Q4. Envestnet Asset Management Inc. now owns 216,979 shares of the company valued at $3,038,000 after acquiring an additional 134,676 shares in the last quarter. Invesco Ltd. increased its stake in Rocket Companies by 10.0% during the fourth quarter. Invesco Ltd. now owns 10,298,814 shares of the company valued at $144,183,000 after purchasing an additional 934,907 shares in the last quarter. Millennium Management LLC increased its holdings in Rocket Companies by 255.9% during the third quarter. Millennium Management LLC now owns 257,636 shares of the company worth $4,132,000 after purchasing an additional 185,236 shares last quarter. Oak Thistle LLC acquired a new position in Rocket Companies in the fourth quarter worth approximately $331,000. Finally, Polianta Ltd bought a new position in shares of Rocket Companies in the fourth quarter worth $1,145,000. 3.71% of the shares are currently held by hedge funds and other institutional investors.

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.

See also

Insider buying and selling by quarter for rocket companies (NYSE: RKT)

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