Insider Buys: Rocket Companies, Inc. (NYSE:RKT) director buys 3,200 shares

Rocket Companies, Inc. (NYSE:RKT – Get Rating) director Matthew Rizik acquired 3,200 shares of the company’s stock in a transaction that took place Tuesday, June 21. The stock was purchased at an average price of $6.73 per share for a total value of $21,536.00. Following the purchase, the director now owns 211,802 shares of the company, valued at $1,425,427.46. The purchase was disclosed in a filing with the Securities & Exchange Commission, available at this link.

Matthew Rizik also recently made the following trades:

  • On Friday, June 17th, Matthew Rizik purchased 3,400 shares of Rocket Companies. The stock was purchased at an average price of $6.46 per share for a total value of $21,964.00.
  • On Wednesday, June 15, Matthew Rizik purchased 3,100 shares of Rocket Companies. The stock was purchased at an average price of $6.98 per share for a total value of $21,638.00.
  • On Monday, June 13th, Matthew Rizik purchased 2,900 shares of Rocket Companies. The stock was purchased at an average price of $7.35 per share for a total value of $21,315.00.
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NYSE: RKT rose $0.18 during trading hours on Wednesday to hit $6.96. The company had a trading volume of 4,524,710 shares compared to an average volume of 5,099,824. The company has a quick ratio of 13.54, a current ratio of 13.54 and a debt to equity ratio of 1.40. The company has a market cap of $13.71 billion, a price-to-earnings ratio of 4.19, a price-to-earnings ratio of 2.41 and a beta of 1.38. The company’s 50-day simple moving average is $8.53 and its 200-day simple moving average is $11.33. Rocket Companies, Inc. has a 12-month low of $6.27 and a 12-month high of $20.84.

Rocket Companies (NYSE:RKT – Get Rating) last issued its quarterly earnings results on Tuesday, May 10th. The company reported $0.12 per share for the quarter, missing analyst consensus estimates of $0.16 to ($0.04). The company had revenue of $1.93 billion in the quarter, compared to analyst estimates of $2.24 billion. Rocket Companies had a return on equity of 31.45% and a net margin of 2.16%. The company’s revenue for the quarter fell 52.2% compared to the same quarter last year. In the same quarter last year, the company reported earnings per share of $0.55. As a group, equity analysts are forecasting that Rocket Companies, Inc. will report year-to-date earnings per share of 0.26.

Several research companies have recently issued reports on RKT. Morgan Stanley lowered its price target on Rocket Companies stock to $11.00 from $12.00 and on Thursday, April 7th Citigroup downgraded Rocket Companies stock from a “buy” rating to a “neutral” rating , lowering its price target on the company to $8.00 from $14.00 in a research note on Wednesday, May 11. Bank of America downgraded shares of Rocket Companies from a “neutral” rating to an “underperform” rating and lowered its price target on the company to $11.00 from $21.00 in a research note on Tuesday, March 22 . February. The Royal Bank of Canada lowered its target price on shares of Rocket Companies from $18.00 to $9.00 in a research note on Thursday, May 12. Finally, Credit Suisse Group lowered its price target on Rocket Companies shares to $9.00 and gave the company a “neutral” rating in a research note on Thursday, May 19. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $11.08.

A number of major investors have recently bought and sold shares in RKT. Renaissance Technologies LLC acquired a new equity stake in Rocket Companies valued at $372,000 during the third quarter. Marshall Wace LLP acquired a new equity interest in Rocket Companies valued at $930,000 during the third quarter. The California State Teachers Retirement System increased its stake in Rocket Companies by 40.6% in the third quarter. The California State Teachers Retirement System now owns 331,044 shares of the company’s stock valued at $5,310,000 after purchasing an additional 95,648 shares during the period. Cubist Systematic Strategies LLC increased its stake in Rocket Companies by 168.9% in the third quarter. Cubist Systematic Strategies LLC now owns 47,863 shares of the company’s stock valued at $768,000 after purchasing an additional 30,066 shares during the period. Finally, Millennium Management LLC increased its stake in Rocket Companies by 255.9% in the third quarter. Millennium Management LLC now owns 257,636 shares of the Company’s stock valued at $4,132,000 after purchasing an additional 185,236 shares during the period. Institutional investors and hedge funds own 3.71% of the company’s shares.

Rocket Companies company profile (get rating)

Rocket Companies, Inc operates in the United States and Canada in the technology-enabled real estate, mortgage and e-commerce businesses. 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, property appraisal and settlement services; Rocket Homes, a home search platform and real estate agent referral network that offers technology-enabled services to assist in the buying and selling of homes; Rocket Auto, an automotive retail marketplace that provides centralized and virtual auto sales support for online auto buying platforms; and Rocket Loans, an online personal loan business.

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Insider Buying and Sales by Quarter for Rocket Company (NYSE:RKT)

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