Jay Farner Acquires 20,800 Shares of Rocket Companies, Inc. (NYSE:RKT) Stock

Rocket Companies, Inc. (NYSE:RKTGet Rating) CEO Jay Farner bought 20,800 shares of the firm’s stock in a transaction on Wednesday, April 13th. The shares were purchased at an average price of $9.57 per share, for a total transaction of $199,056.00. Following the completion of the transaction, the chief executive officer now owns 1,681,707 shares of the company’s stock, valued at approximately $16,093,935.99. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

  • On Monday, April 11th, Jay Farner bought 20,300 shares of Rocket Companies stock. The shares were purchased at an average price of $9.82 per share, for a total transaction of $199,346.00.
  • On Friday, April 8th, Jay Farner bought 20,400 shares of Rocket Companies stock. The shares were purchased at an average price of $9.80 per share, for a total transaction of $199,920.00.
  • On Wednesday, April 6th, Jay Farner bought 19,500 shares of Rocket Companies stock. The shares were purchased at an average price of $10.24 per share, for a total transaction of $199,680.00.
  • On Monday, April 4th, Jay Farner bought 8,600 shares of Rocket Companies stock. The shares were purchased at an average price of $11.52 per share, for a total transaction of $99,072.00.
  • On Friday, April 1st, Jay Farner purchased 13,100 shares of Rocket Companies stock. The stock was bought at an average cost of $11.04 per share, with a total value of $144,624.00.
  • On Wednesday, March 30th, Jay Farner purchased 8,900 shares of Rocket Companies stock. The stock was bought at an average cost of $11.20 per share, with a total value of $99,680.00.

NYSE:RKT traded up $0.05 on Wednesday, hitting $9.60. 6,312,060 shares of the stock were exchanged, compared to its average volume of 5,508,577. The stock has a market cap of $19.05 billion, a PE ratio of 4.07, a PEG ratio of 0.91 and a beta of 1.31. The company has a current ratio of 21.68, a quick ratio of 21.68 and a debt-to-equity ratio of 1.92. The stock has a fifty day moving average of $11.57 and a 200-day moving average of $14.00. Rocket Companies, Inc. has a fifty-two week low of $9.36 and a fifty-two week high of $23.33.

Rocket Companies (NYSE:RKTGet Rating) last posted its earnings results on Thursday, February 24th. The company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.06). Rocket Companies had a net margin of 2.38% and a return on equity of 48.76%. The company had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same quarter last year, the business posted $1.12 EPS. Rocket Companies’s quarterly revenue was down 44.6% compared to the same quarter last year. As a group, analysts predict that Rocket Companies, Inc. will post 1.07 earnings per share for the current year.

The business also recently announced a dividend, which was paid on Tuesday, March 22nd. Stockholders of record on Tuesday, March 8th were paid a $1.01 dividend. The ex-dividend date was Monday, March 7th.

Hedge funds have recently bought and sold shares of the company. Millennium Management LLC grew its stake in shares of 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 buying an additional 185,236 shares in the last quarter. Oak Thistle LLC acquired a new stake in shares of Rocket Companies in the fourth quarter valued at about $331,000. Polianta Ltd acquired a new stake in shares of Rocket Companies in the fourth quarter valued at about $1,145,000. Patriot Financial Group Insurance Agency LLC grew its stake in shares of Rocket Companies by 111.6% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 3,640 shares of the company’s stock valued at $58,000 after buying an additional 1,920 shares in the last quarter. Finally, Advisor Group Holdings Inc. grew its stake in shares of Rocket Companies by 2.8% in the third quarter. Advisor Group Holdings Inc. now owns 110,065 shares of the company’s stock valued at $1,766,000 after buying an additional 3,020 shares in the last quarter. Institutional investors and hedge funds own 3.74% of the company’s stock.

A number of research firms have recently weighed in on RKT. Barclays cut their price target on Rocket Companies from $14.00 to $13.00 and set an “equal weight” rating for the company in a report on Tuesday. The Goldman Sachs Group dropped their target price on Rocket Companies from $14.00 to $11.50 and set a “neutral” rating for the company in a research note on Monday, April 4th. Zacks Investment Research lowered Rocket Companies from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 2nd. Bank of America lowered Rocket Companies from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $21.00 to $11.00 in a research note on Tuesday, February 22nd. Finally, Citigroup dropped their target price on Rocket Companies from $23.00 to $14.00 and set a “buy” rating for the company in a research note on Monday, February 28th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.46.

About Rocket Companies (Get Rating)

Rocket Companies, Inc engages in the tech-driven real estate, mortgage, and e-Commerce businesses 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 that provides title insurance, property valuation, and settlement services; Rocket Homes, a home search platform and real estate agent referral network, which offers technology-enabled services to support the home buying and selling experience; Rocket Auto, an automotive retail marketplace that provides centralized and virtual car sales support to online car purchasing platforms; and Rocket Loans, an online-based personal loans business.

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