Rocket Companies, Inc. (NYSE:RKT) CEO Buys $199,584.00 in Stock

Rocket Companies, Inc. (NYSE: RKT – Get a rating) CEO Jay Farner bought 22,400 shares of the company in a trade on Thursday, May 19. The shares were purchased at an average price of $8.91 per share, for a total transaction of $199,584.00. Following the completion of the acquisition, the CEO now owns 2,252,207 shares of the company, valued at approximately $20,067,164.37. The acquisition was disclosed in a filing with the SEC, accessible via the SEC website.

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

  • On Monday, May 16, Jay Farner acquired 23,700 shares of Rocket Companies. The shares were purchased 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 cost 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 purchased 23,800 shares of Rocket Companies. The shares were purchased 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 purchased at an average price of $8.48 per share, with a total value of $199,280.00.
  • On Wednesday, May 4, Jay Farner acquired 21,700 shares of Rocket Companies. The shares were purchased at an average price of $9.21 per share, with a total value of $199,857.00.
  • On Monday, May 2, Jay Farner purchased 22,300 shares of Rocket Companies. The shares were purchased at an average cost 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 acquired at an average cost 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, for a total transaction of $199,500.00.
  • On Monday, April 25, Jay Farner acquired 21,700 shares of Rocket Companies. The shares were acquired at an average price of $9.21 per share, with a total value of $199,857.00.
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NYSE: RKT was 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 market capitalization of $17.53 billion, a P/E ratio of 5.42 , a PEG ratio of 1.95 and a beta of 1.39. The company has a debt ratio of 1.40, a current ratio of 13.54 and a quick ratio of 13.54. The stock has a fifty-day simple moving average of $9.64 and a 200-day simple moving average of $12.65. 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 results 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 a consensus estimate of $2.24 billion. Rocket Companies had a net margin of 2.16% and a return on equity of 31.45%. Rocket Companies’ revenue for the quarter was down 52.2% from the same quarter last year. In the same quarter a year earlier, the company posted earnings of $0.55 per share. On average, stock analysts predict that Rocket Companies, Inc. will post EPS of 0.44 for the current fiscal year.

The company also recently declared 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.

A number of hedge funds and other institutional investors have recently bought and sold shares of RKT. Invesco Ltd. increased its holdings in Rocket Companies by 4.8% in the 1st quarter. Invesco Ltd. now owns 10,789,221 shares of the company worth $119,975,000 after purchasing an additional 490,407 shares in the last quarter. Vanguard Group Inc. increased its stake in Rocket Companies by 29.0% during the first quarter. Vanguard Group Inc. now owns 10,028,437 shares of the company worth $111,517,000 after purchasing an additional 2,252,066 shares in the last quarter. BlackRock Inc. increased its holdings in Rocket Companies by 2.7% in the first quarter. BlackRock Inc. now owns 6,684,239 shares of the company valued at $74,328,000 after purchasing an additional 178,545 shares during the period. State Street Corp increased its stake in Rocket Companies by 11.3% in the first quarter. State Street Corp now owns 5,395,785 shares of the company valued at $60,001,000 after purchasing an additional 548,077 shares during the period. Finally, Renaissance Technologies LLC increased its position in Rocket Companies by 378.7% during the first quarter. Renaissance Technologies LLC now owns 2,357,100 shares of the company valued at $26,211,000 after acquiring an additional 1,864,700 shares in the last quarter. Institutional investors and hedge funds own 3.71% of the company’s shares.

RKT has been the subject of several analyst reports. Morgan Stanley lowered its price target on Rocket Companies from $12.00 to $11.00 and set an “equal weight” rating on the stock in a Thursday, April 7 report. Royal Bank of Canada lowered its price target on Rocket Companies from $18.00 to $9.00 in a Thursday, May 12 research note. Credit Suisse Group lowered its price target on Rocket Companies shares to $9.00 and set a “neutral” rating for the company in a research note on Thursday. 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 note. Finally, Bank of America downgraded Rocket Companies from a “neutral” rating to an “underperforming” rating and lowered its price target for the company from $21.00 to $11.00 in a research note. Tuesday, February 22. Two investment analysts gave the stock a sell rating, ten gave the company a hold rating and two gave the company a buy rating. According to data from MarketBeat, Rocket Companies has a consensus rating of “Hold” and a consensus price target 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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