Jay Farner Acquires 23,300 Shares of Rocket Companies, Inc. (NYSE:RKT) Stock

Rocket Companies, Inc. (NYSE:RKTGet Rating) CEO Jay Farner acquired 23,300 shares of the firm’s stock in a transaction on Wednesday, June 8th. The shares were acquired at an average price of $8.58 per share, with a total value of $199,914.00. Following the completion of the transaction, the chief executive officer now directly owns 2,545,507 shares in the company, valued at approximately $21,840,450.06. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

  • On Monday, June 6th, Jay Farner acquired 23,100 shares of Rocket Companies stock. The shares were acquired at an average price of $8.66 per share, with a total value of $200,046.00.
  • On Thursday, June 2nd, Jay Farner purchased 22,500 shares of Rocket Companies stock. The shares were purchased at an average cost of $8.88 per share, with a total value of $199,800.00.
  • On Tuesday, May 31st, Jay Farner purchased 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 Wednesday, May 25th, Jay Farner purchased 22,400 shares of Rocket Companies stock. The shares were purchased at an average cost of $8.93 per share, with a total value of $200,032.00.
  • On Monday, May 23rd, Jay Farner acquired 22,600 shares of Rocket Companies stock. The stock was bought at an average cost of $8.81 per share, for a total transaction of $199,106.00.
  • On Thursday, May 19th, Jay Farner acquired 22,400 shares of Rocket Companies stock. The stock was bought at an average cost of $8.91 per share, for a total transaction of $199,584.00.
  • On Monday, May 16th, Jay Farner acquired 23,700 shares of Rocket Companies stock. The stock was bought at an average cost of $8.43 per share, for a total transaction of $199,791.00.
  • On Friday, May 13th, Jay Farner purchased 24,300 shares of Rocket Companies stock. The stock was acquired at an average cost of $8.22 per share, for a total transaction of $199,746.00.
  • 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, for a total transaction 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, for a total transaction of $199,920.00.

NYSE RKT traded down $0.09 on Wednesday, reaching $8.60. The company had a trading volume of 2,511,443 shares, compared to its average volume of 5,177,242. The stock’s 50 day moving average is $9.18 and its 200-day moving average is $11.92. The stock has a market cap of $16.94 billion, a price-to-earnings ratio of 5.23, a PEG ratio of 3.09 and a beta of 1.38. The company has a quick ratio of 13.54, a current ratio of 13.54 and a debt-to-equity ratio of 1.40. Rocket Companies, Inc. has a 52 week low of $6.91 and a 52 week high of $22.68.

Rocket Companies (NYSE:RKTGet Rating) last released its quarterly earnings data on Tuesday, May 10th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.04). The company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $2.24 billion. Rocket Companies had a net margin of 2.16% and a return on equity of 31.45%. The company’s revenue for the quarter was down 52.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.55 EPS. As a group, analysts forecast that Rocket Companies, Inc. will post 0.27 EPS for the current year.

A number of large investors have recently bought and sold shares of the business. Invesco Ltd. grew its stake in Rocket Companies by 4.8% in the first quarter. Invesco Ltd. now owns 10,789,221 shares of the company’s stock valued at $119,975,000 after acquiring an additional 490,407 shares during the period. Vanguard Group Inc. grew its stake in Rocket Companies by 29.0% in the first quarter. Vanguard Group Inc. now owns 10,028,437 shares of the company’s stock valued at $111,517,000 after acquiring an additional 2,252,066 shares during the period. BlackRock Inc. grew its stake in Rocket Companies by 2.7% in the first quarter. BlackRock Inc. now owns 6,684,239 shares of the company’s stock valued at $74,328,000 after acquiring an additional 178,545 shares during the period. State Street Corp grew its stake in Rocket Companies by 11.3% in the first quarter. State Street Corp now owns 5,395,785 shares of the company’s stock valued at $60,001,000 after acquiring an additional 548,077 shares during the period. Finally, Renaissance Technologies LLC grew its stake in Rocket Companies by 378.7% in the first quarter. Renaissance Technologies LLC now owns 2,357,100 shares of the company’s stock valued at $26,211,000 after acquiring an additional 1,864,700 shares during the period. 3.71% of the stock is owned by hedge funds and other institutional investors.

Several brokerages have commented on RKT. Morgan Stanley dropped their price target on 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. Zacks Investment Research lowered Rocket Companies from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 2nd. Argus lowered Rocket Companies from a “buy” rating to a “hold” rating in a report on Tuesday, May 31st. Bank of America lowered Rocket Companies from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $21.00 to $11.00 in a report on Tuesday, February 22nd. Finally, Keefe, Bruyette & Woods raised Rocket Companies from an “underperform” rating to a “market perform” rating and decreased their price target for the company from $10.00 to $7.00 in a research note on Sunday, May 15th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Rocket Companies presently has an average rating of “Hold” and an average target price of $12.97.

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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