Insider Buying: Rocket Companies, Inc. (NYSE:RKT) CEO Buys 24,300 Shares of Stock

Rocket Companies, Inc. (NYSE:RKTGet Rating) CEO Jay Farner purchased 24,300 shares of the stock in a transaction dated Friday, May 13th. The stock was acquired at an average cost of $8.22 per share, with a total value of $199,746.00. Following the transaction, the chief executive officer now directly owns 2,160,307 shares in the company, valued at approximately $17,757,723.54. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

  • On Wednesday, May 11th, Jay Farner purchased 26,600 shares of Rocket Companies stock. The stock was acquired at an average cost of $7.52 per share, with a total value of $200,032.00.
  • On Monday, May 9th, Jay Farner purchased 23,800 shares of Rocket Companies stock. The stock was acquired at an average cost of $8.40 per share, with a total value of $199,920.00.
  • On Friday, May 6th, Jay Farner bought 23,500 shares of Rocket Companies stock. The shares were purchased at an average cost of $8.48 per share, with a total value of $199,280.00.
  • On Wednesday, May 4th, Jay Farner bought 21,700 shares of Rocket Companies stock. The shares were purchased at an average cost of $9.21 per share, with a total value of $199,857.00.
  • On Monday, May 2nd, Jay Farner bought 22,300 shares of Rocket Companies stock. The shares were purchased at an average cost of $8.96 per share, with a total value of $199,808.00.
  • On Friday, April 29th, Jay Farner bought 22,200 shares of Rocket Companies stock. The shares were purchased at an average cost of $8.98 per share, with a total value of $199,356.00.
  • On Wednesday, April 27th, Jay Farner bought 22,800 shares of Rocket Companies stock. The shares were purchased at an average cost of $8.75 per share, with a total value of $199,500.00.
  • On Monday, April 25th, Jay Farner purchased 21,700 shares of Rocket Companies stock. The shares were bought at an average price of $9.21 per share, for a total transaction of $199,857.00.
  • On Friday, April 22nd, Jay Farner purchased 22,400 shares of Rocket Companies stock. The shares were bought at an average price of $8.93 per share, for a total transaction of $200,032.00.
  • On Wednesday, April 20th, Jay Farner purchased 21,400 shares of Rocket Companies stock. The shares were bought at an average price of $9.34 per share, for a total transaction of $199,876.00.

Shares of NYSE RKT opened at $8.11 on Friday. The company’s fifty day moving average price is $9.87 and its 200 day moving average price is $12.86. Rocket Companies, Inc. has a 1 year low of $6.91 and a 1 year high of $22.68. The company has a market capitalization of $15.98 billion, a PE ratio of 4.89, a price-to-earnings-growth ratio of 0.75 and a beta of 1.39. The company has a debt-to-equity ratio of 1.40, a quick ratio of 21.68 and a current ratio of 13.54.

Rocket Companies (NYSE:RKTGet Rating) last announced its quarterly earnings results on Tuesday, May 10th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.04). Rocket Companies had a return on equity of 31.45% and a net margin of 2.16%. The firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same period last year, the company posted $0.55 earnings per share. The business’s quarterly revenue was down 52.2% on a year-over-year basis. On average, equities analysts expect that Rocket Companies, Inc. will post 0.8 EPS for the current year.

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

A number of research analysts have issued reports on the stock. Morgan Stanley cut 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 note on Thursday, April 7th. Citigroup lowered shares of Rocket Companies from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $14.00 to $8.00 in a research note on Wednesday. Credit Suisse Group cut their price objective on shares of Rocket Companies from $16.00 to $13.00 and set a “neutral” rating on the stock in a research note on Friday, February 25th. Barclays cut their price objective on shares of Rocket Companies from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 12th. Finally, Royal Bank of Canada cut their price objective on shares of Rocket Companies from $18.00 to $9.00 in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $14.18.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC lifted its holdings in Rocket Companies by 378.7% during the first quarter. Renaissance Technologies LLC now owns 2,357,100 shares of the company’s stock valued at $26,211,000 after purchasing an additional 1,864,700 shares in the last quarter. Ancora Advisors LLC purchased a new position in Rocket Companies during the first quarter valued at $81,000. Charles Schwab Investment Management Inc. lifted its holdings in Rocket Companies by 3.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 696,479 shares of the company’s stock valued at $7,745,000 after purchasing an additional 20,063 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in Rocket Companies by 38.2% during the first quarter. International Assets Investment Management LLC now owns 36,034 shares of the company’s stock valued at $401,000 after purchasing an additional 9,959 shares in the last quarter. Finally, Baltimore Washington Financial Advisors Inc. lifted its holdings in Rocket Companies by 2,348.9% during the first quarter. Baltimore Washington Financial Advisors Inc. now owns 286,275 shares of the company’s stock valued at $6,610,000 after purchasing an additional 274,585 shares in the last quarter. 3.71% of the stock is currently owned by institutional investors and hedge funds.

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.

Further Reading

Insider Buying and Selling by Quarter for Rocket Companies (NYSE:RKT)

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