Insider Selling: Rocket Companies (NYSE:RKT) Director Sells $49,650.00 in Stock

Rocket Companies, Inc. (NYSE:RKT) Director Matthew Rizik sold 2,500 shares of the company’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $19.86, for a total transaction of $49,650.00. Following the transaction, the director directly owned 990,684 shares in the company, valued at approximately $19,674,984.24. This trade represents a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Matthew Rizik also recently made the following trade(s):

• On Tuesday, November 25th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The stock was sold at an average price of $19.29, for a total value of $48,225.00.
• On Monday, November 17th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The stock was sold at an average price of $16.70, for a total transaction of $41,750.00.
• On Thursday, November 13th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The shares were sold at an average price of $17.47, for a total transaction of $43,675.00.

Rocket Companies Price Performance

Rocket Companies stock traded down $0.24 during mid-day trading on Monday, hitting $18.79. 15,406,045 shares of the company were exchanged, compared to its average volume of 20,507,207. Rocket Companies, Inc. has a 12-month low of $10.06 and a 12-month high of $22.56. The company has a market capitalization of $39.54 billion, a P/E ratio of 234.89 and a beta of 2.26. The business’s 50 day simple moving average is $17.62 and its two-hundred day simple moving average is $16.66. The company has a debt-to-equity ratio of 2.16, a current ratio of 19.68 and a quick ratio of 19.68.

Rocket Companies (NYSE:RKT) last announced its quarterly earnings data on Thursday, October 30th. The company reported $0.07 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.07. Rocket Companies had a negative net margin of 1.77% and a positive return on equity of 2.83%. The business had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the firm posted $0.08 earnings per share. The company’s quarterly revenue was up 148.1% compared to the same quarter last year. Analysts forecast that Rocket Companies, Inc. will post 0.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RKT. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Rocket Companies in a report on Monday, October 13th. The Goldman Sachs Group restated a “neutral” rating and issued a $22.00 price target (up previously from $16.00) on shares of Rocket Companies in a report on Wednesday, October 29th. Bank of America upgraded shares of Rocket Companies from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $21.00 to $24.00 in a research note on Wednesday, September 10th. BTIG Research reissued a “buy” rating and issued a $25.00 price objective on shares of Rocket Companies in a research report on Wednesday, November 19th. Finally, Royal Bank Of Canada lifted their target price on shares of Rocket Companies from $17.00 to $20.00 and gave the company a “sector perform” rating in a report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $18.18.

Hedge Funds Weigh In On Rocket Companies

A number of hedge funds have recently bought and sold shares of RKT. Allworth Financial LP boosted its holdings in shares of Rocket Companies by 85.8% in the 3rd quarter. Allworth Financial LP now owns 3,243 shares of the company’s stock valued at $63,000 after buying an additional 1,498 shares during the period. IFP Advisors Inc lifted its holdings in Rocket Companies by 26.2% in the third quarter. IFP Advisors Inc now owns 7,696 shares of the company’s stock worth $157,000 after acquiring an additional 1,596 shares during the last quarter. Polar Asset Management Partners Inc. bought a new position in Rocket Companies in the third quarter worth about $957,000. CIBC Private Wealth Group LLC boosted its stake in Rocket Companies by 15.5% in the third quarter. CIBC Private Wealth Group LLC now owns 57,011 shares of the company’s stock valued at $1,105,000 after acquiring an additional 7,639 shares during the period. Finally, Prana Capital Management LP grew its holdings in shares of Rocket Companies by 5.9% during the third quarter. Prana Capital Management LP now owns 284,899 shares of the company’s stock valued at $5,521,000 after purchasing an additional 15,869 shares during the last quarter. 4.59% of the stock is currently owned by institutional investors and hedge funds.

Rocket Companies Company Profile

Rocket Companies, Inc, a fintech holding company, provides mortgage lending, title and settlement services, and other financial technology services 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; and Rocket Loans, an online-based personal loans business.