Rocket Companies, Inc. (NYSE:RKT) CEO Jay Farner Buys 22,200 Shares

Rocket Companies, Inc. (NYSE:RKTGet Rating) CEO Jay Farner acquired 22,200 shares of the stock in a transaction dated Friday, April 29th. The stock was acquired at an average cost of $8.98 per share, with a total value of $199,356.00. Following the completion of the transaction, the chief executive officer now owns 1,922,407 shares in the company, valued at approximately $17,263,214.86. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

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

  • On Wednesday, April 27th, Jay Farner acquired 22,800 shares of Rocket Companies stock. The stock was acquired at an average cost of $8.75 per share, with a total value of $199,500.00.
  • On Monday, April 25th, Jay Farner acquired 21,700 shares of Rocket Companies stock. The stock was acquired at an average cost of $9.21 per share, with a total value of $199,857.00.
  • On Friday, April 22nd, Jay Farner acquired 22,400 shares of Rocket Companies stock. The stock was acquired at an average cost of $8.93 per share, with a total value of $200,032.00.
  • On Wednesday, April 20th, Jay Farner acquired 21,400 shares of Rocket Companies stock. The stock was acquired at an average cost of $9.34 per share, with a total value of $199,876.00.
  • On Monday, April 18th, Jay Farner acquired 21,600 shares of Rocket Companies stock. The stock was acquired at an average cost of $9.25 per share, with a total value of $199,800.00.
  • On Wednesday, April 13th, Jay Farner bought 20,800 shares of Rocket Companies stock. The stock was purchased at an average price of $9.57 per share, with a total value of $199,056.00.
  • On Monday, April 11th, Jay Farner bought 20,300 shares of Rocket Companies stock. The stock was purchased at an average price 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 stock was purchased at an average price 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 stock was purchased at an average price 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 stock was purchased at an average price of $11.52 per share, with a total value of $99,072.00.

RKT stock opened at $8.85 on Friday. Rocket Companies, Inc. has a 12-month low of $8.49 and a 12-month high of $23.33. The company has a quick ratio of 21.68, a current ratio of 21.68 and a debt-to-equity ratio of 1.92. The business has a 50 day moving average of $10.71 and a 200-day moving average of $13.42. The firm has a market cap of $17.56 billion, a PE ratio of 3.80, a P/E/G ratio of 0.94 and a beta of 1.31.

Rocket Companies (NYSE:RKTGet Rating) last posted its quarterly earnings data on Thursday, February 24th. The company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.06). Rocket Companies had a net margin of 2.38% and a return on equity of 48.76%. The firm had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same quarter in the previous year, the company posted $1.12 EPS. Rocket Companies’s revenue for the quarter was down 44.6% on a year-over-year basis. On average, research analysts expect that Rocket Companies, Inc. will post 0.98 earnings per share for the current year.

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

Several brokerages have recently commented on RKT. Wedbush upgraded Rocket Companies from an “underperform” rating to a “neutral” rating and set a $14.00 target price for the company in a research note on Monday, January 3rd. They noted that the move was a valuation call. 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 research note on Tuesday, April 12th. Citigroup cut their price target 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. Morgan Stanley cut their price target on Rocket Companies from $12.00 to $11.00 and set an “equal weight” rating for the company in a research note on Thursday, April 7th. Finally, Piper Sandler cut their price target on Rocket Companies from $19.00 to $18.00 in a research note on Wednesday, January 5th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Rocket Companies presently has a consensus rating of “Hold” and an average price target of $15.46.

A number of institutional investors have recently bought and sold shares of the stock. Invesco Ltd. lifted its position in shares of Rocket Companies by 39.5% during the third quarter. Invesco Ltd. now owns 9,363,907 shares of the company’s stock worth $150,198,000 after acquiring an additional 2,653,662 shares in the last quarter. BlackRock Inc. lifted its position in shares of Rocket Companies by 17.9% during the fourth quarter. BlackRock Inc. now owns 6,505,694 shares of the company’s stock worth $91,081,000 after acquiring an additional 988,019 shares in the last quarter. Bruni J V & Co. Co. purchased a new stake in shares of Rocket Companies during the fourth quarter worth $11,947,000. Renaissance Technologies LLC lifted its position in shares of Rocket Companies by 2,022.4% during the fourth quarter. Renaissance Technologies LLC now owns 492,400 shares of the company’s stock worth $6,894,000 after acquiring an additional 469,200 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its position in shares of Rocket Companies by 961.1% during the fourth quarter. Los Angeles Capital Management LLC now owns 365,547 shares of the company’s stock worth $5,118,000 after acquiring an additional 331,097 shares in the last quarter. Institutional investors and hedge funds own 3.74% of the company’s stock.

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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