Insider Buying: Rocket Companies, Inc. (NYSE:RKT) CEO Buys 21,400 Shares of Stock

Rocket Companies, Inc. (NYSE:RKTGet Rating) CEO Jay Farner purchased 21,400 shares of the firm’s stock in a transaction on Wednesday, April 20th. The stock was bought at an average cost of $9.34 per share, with a total value of $199,876.00. Following the acquisition, the chief executive officer now owns 1,767,107 shares of the company’s stock, valued at approximately $16,504,779.38. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

  • On Monday, April 18th, Jay Farner purchased 21,600 shares of Rocket Companies stock. The stock was bought at an average cost of $9.25 per share, with a total value of $199,800.00.
  • On Wednesday, April 13th, Jay Farner purchased 20,800 shares of Rocket Companies stock. The stock was bought at an average cost of $9.57 per share, with a total value of $199,056.00.
  • On Monday, April 11th, Jay Farner purchased 20,300 shares of Rocket Companies stock. The stock was bought at an average cost of $9.82 per share, with a total value of $199,346.00.
  • On Friday, April 8th, Jay Farner bought 20,400 shares of Rocket Companies stock. The shares were acquired at an average cost of $9.80 per share, with a total value of $199,920.00.
  • On Wednesday, April 6th, Jay Farner bought 19,500 shares of Rocket Companies stock. The shares were acquired at an average cost of $10.24 per share, with a total value of $199,680.00.
  • On Monday, April 4th, Jay Farner bought 8,600 shares of Rocket Companies stock. The shares were acquired at an average cost of $11.52 per share, with a total value of $99,072.00.
  • On Friday, April 1st, Jay Farner bought 13,100 shares of Rocket Companies stock. The shares were acquired at an average cost of $11.04 per share, with a total value of $144,624.00.
  • On Wednesday, March 30th, Jay Farner bought 8,900 shares of Rocket Companies stock. The shares were acquired at an average cost of $11.20 per share, with a total value of $99,680.00.

Shares of NYSE:RKT traded up $0.04 during midday trading on Wednesday, hitting $9.29. The company’s stock had a trading volume of 4,857,028 shares, compared to its average volume of 5,418,617. The business’s 50 day simple moving average is $11.28 and its 200 day simple moving average is $13.76. The company has a debt-to-equity ratio of 1.92, a quick ratio of 21.68 and a current ratio of 21.68. The company has a market cap of $18.43 billion, a P/E ratio of 4.08, a price-to-earnings-growth ratio of 0.91 and a beta of 1.31. Rocket Companies, Inc. has a 12-month low of $9.14 and a 12-month high of $23.33.

Rocket Companies (NYSE:RKTGet Rating) last posted its quarterly earnings results on Thursday, February 24th. The company reported $0.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.06). The business had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.62 billion. Rocket Companies had a return on equity of 48.76% and a net margin of 2.38%. The business’s quarterly revenue was down 44.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.12 earnings per share. On average, sell-side analysts predict that Rocket Companies, Inc. will post 1.03 earnings per share for the current fiscal year.

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

Several research analysts recently issued reports on RKT shares. Bank of America cut shares of Rocket Companies from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $21.00 to $11.00 in a report on Tuesday, February 22nd. Morgan Stanley dropped their price target on shares of Rocket Companies from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 7th. JPMorgan Chase & Co. upgraded shares of Rocket Companies from an “underweight” rating to an “overweight” rating and dropped their price target for the company from $17.50 to $15.00 in a research report on Wednesday, January 19th. Zacks Investment Research lowered shares of Rocket Companies from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 2nd. Finally, Piper Sandler dropped their price target on shares of Rocket Companies from $19.00 to $18.00 in a research report on Wednesday, January 5th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $15.46.

A number of hedge funds have recently modified their holdings of the business. Invesco Ltd. raised its stake in Rocket Companies by 10.0% during the fourth quarter. Invesco Ltd. now owns 10,298,814 shares of the company’s stock worth $144,183,000 after purchasing an additional 934,907 shares during the period. BlackRock Inc. raised its stake in shares of Rocket Companies by 17.9% in the 4th quarter. BlackRock Inc. now owns 6,505,694 shares of the company’s stock valued at $91,081,000 after acquiring an additional 988,019 shares during the period. Geode Capital Management LLC raised its stake in shares of Rocket Companies by 5.6% in the 4th quarter. Geode Capital Management LLC now owns 1,679,424 shares of the company’s stock valued at $23,511,000 after acquiring an additional 89,003 shares during the period. Bruni J V & Co. Co. purchased a new stake in shares of Rocket Companies in the 4th quarter valued at approximately $11,947,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Rocket Companies by 0.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 676,416 shares of the company’s stock valued at $9,470,000 after acquiring an additional 2,119 shares during the period. 3.74% of the stock is currently owned by institutional investors.

Rocket Companies Company Profile (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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