Jay Farner Acquires 26,200 Shares of Rocket Companies, Inc. (NYSE:RKT) Stock

Rocket Companies, Inc. (NYSE:RKTGet Rating) CEO Jay Farner bought 26,200 shares of the firm’s stock in a transaction dated Monday, September 19th. The stock was purchased at an average price of $7.63 per share, with a total value of $199,906.00. Following the transaction, the chief executive officer now owns 4,186,507 shares in the company, valued at approximately $31,943,048.41. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

  • On Wednesday, September 21st, Jay Farner bought 26,500 shares of Rocket Companies stock. The stock was purchased at an average price of $7.55 per share, with a total value of $200,075.00.
  • On Friday, September 16th, Jay Farner bought 26,900 shares of Rocket Companies stock. The stock was purchased at an average price of $7.42 per share, with a total value of $199,598.00.
  • On Wednesday, September 14th, Jay Farner acquired 26,400 shares of Rocket Companies stock. The shares were bought at an average price of $7.55 per share, with a total value of $199,320.00.
  • On Monday, September 12th, Jay Farner acquired 25,000 shares of Rocket Companies stock. The shares were bought at an average price of $7.97 per share, with a total value of $199,250.00.
  • On Thursday, September 8th, Jay Farner acquired 26,100 shares of Rocket Companies stock. The shares were bought at an average price of $7.64 per share, with a total value of $199,404.00.
  • On Wednesday, August 31st, Jay Farner acquired 25,200 shares of Rocket Companies stock. The shares were bought at an average price of $7.91 per share, with a total value of $199,332.00.
  • On Monday, August 29th, Jay Farner acquired 24,000 shares of Rocket Companies stock. The shares were bought at an average price of $8.33 per share, with a total value of $199,920.00.
  • On Friday, August 26th, Jay Farner acquired 21,200 shares of Rocket Companies stock. The shares were bought at an average price of $8.81 per share, with a total value of $186,772.00.
  • On Wednesday, August 24th, Jay Farner bought 21,500 shares of Rocket Companies stock. The shares were acquired at an average cost of $9.27 per share, for a total transaction of $199,305.00.
  • On Monday, August 22nd, Jay Farner bought 21,400 shares of Rocket Companies stock. The shares were acquired at an average cost of $9.33 per share, for a total transaction of $199,662.00.

Rocket Companies Price Performance

NYSE RKT opened at $7.13 on Friday. Rocket Companies, Inc. has a twelve month low of $6.27 and a twelve month high of $18.13. The company has a debt-to-equity ratio of 1.46, a quick ratio of 14.97 and a current ratio of 14.97. The stock has a market capitalization of $14.05 billion, a PE ratio of 5.57, a P/E/G ratio of 56.62 and a beta of 1.76. The stock has a 50-day simple moving average of $8.96 and a 200 day simple moving average of $9.03.

Rocket Companies (NYSE:RKTGet Rating) last posted its quarterly earnings data on Thursday, August 4th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.05). The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.53 billion. Rocket Companies had a return on equity of 19.79% and a net margin of 1.85%. Rocket Companies’s revenue for the quarter was down 47.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.44 EPS. Research analysts anticipate that Rocket Companies, Inc. will post 0.03 EPS for the current year.

Hedge Funds Weigh In On Rocket Companies

Several large investors have recently added to or reduced their stakes in the company. Invesco Ltd. raised its holdings in Rocket Companies by 4.8% in the 1st 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 in the last quarter. Vanguard Group Inc. raised its holdings in Rocket Companies by 29.0% in the 1st 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 in the last quarter. BlackRock Inc. raised its holdings in Rocket Companies by 2.7% in the 1st 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 in the last quarter. State Street Corp raised its holdings in Rocket Companies by 2.3% in the 2nd quarter. State Street Corp now owns 5,518,701 shares of the company’s stock valued at $40,618,000 after acquiring an additional 122,916 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Rocket Companies by 3.3% in the 2nd quarter. Renaissance Technologies LLC now owns 2,435,000 shares of the company’s stock valued at $17,922,000 after acquiring an additional 77,900 shares in the last quarter. Institutional investors and hedge funds own 4.16% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Argus downgraded Rocket Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, May 31st. Citigroup boosted their price objective on Rocket Companies to $10.00 in a research note on Tuesday, August 9th. Wells Fargo & Company raised Rocket Companies from an “equal weight” rating to an “overweight” rating and set a $10.00 price objective on the stock in a research note on Wednesday, July 6th. Barclays dropped their price objective on Rocket Companies to $7.00 in a research note on Tuesday, August 9th. Finally, Keefe, Bruyette & Woods downgraded Rocket Companies from a “market perform” rating to an “underperform” rating and set a $6.50 price objective on the stock. in a research note on Sunday, August 7th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Rocket Companies currently has a consensus rating of “Hold” and a consensus target price of $9.88.

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.

Further Reading

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

Receive News & Ratings for Rocket Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rocket Companies and related companies with MarketBeat.com's FREE daily email newsletter.