Insider Selling: Rocket Companies (NYSE:RKT) Director Sells 2,500 Shares of Stock

Rocket Companies, Inc. (NYSE:RKT) Director Matthew Rizik sold 2,500 shares of Rocket Companies stock in a transaction dated Wednesday, December 24th. The shares were sold at an average price of $19.44, for a total value of $48,600.00. Following the sale, the director owned 1,066,036 shares of the company’s stock, valued at approximately $20,723,739.84. This trade represents a 0.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Friday, December 26th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The stock was sold at an average price of $19.38, for a total transaction of $48,450.00.
• On Monday, December 22nd, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The shares were sold at an average price of $18.99, for a total transaction of $47,475.00.
• On Friday, December 19th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The stock was sold at an average price of $19.21, for a total transaction of $48,025.00.
• On Wednesday, December 17th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The shares were sold at an average price of $18.21, for a total transaction of $45,525.00.
• On Friday, December 12th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The stock was sold at an average price of $18.99, for a total transaction of $47,475.00.
• On Wednesday, December 10th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The stock was sold at an average price of $19.17, for a total transaction of $47,925.00.
• On Monday, December 8th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The shares were sold at an average price of $18.78, for a total value of $46,950.00.
• On Thursday, December 4th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The stock was sold at an average price of $19.86, for a total value of $49,650.00.
• 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 shares were sold at an average price of $16.70, for a total value of $41,750.00.

Rocket Companies Price Performance

NYSE:RKT traded down $0.01 during mid-day trading on Monday, reaching $19.40. The stock had a trading volume of 11,028,459 shares, compared to its average volume of 20,234,496. The stock has a market capitalization of $40.83 billion, a P/E ratio of 242.57 and a beta of 2.26. The firm has a 50 day moving average price of $18.08 and a two-hundred day moving average price of $17.31. The company has a debt-to-equity ratio of 2.16, a quick ratio of 19.68 and a current ratio of 19.68. Rocket Companies, Inc. has a one year low of $10.06 and a one year high of $22.56.

Rocket Companies (NYSE:RKT) last posted its quarterly earnings results on Thursday, October 30th. The company reported $0.07 EPS for the quarter, hitting 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 firm had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period last year, the firm posted $0.08 earnings per share. The business’s revenue was up 148.1% compared to the same quarter last year. As a group, analysts expect that Rocket Companies, Inc. will post 0.15 earnings per share for the current year.

Analysts Set New Price Targets

RKT has been the subject of several research reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Rocket Companies in a research report on Monday, December 22nd. Morgan Stanley raised their price objective on Rocket Companies from $16.00 to $18.00 and gave the company an “equal weight” rating in a research report on Monday, September 29th. BTIG Research reaffirmed a “buy” rating and issued a $25.00 target price on shares of Rocket Companies in a research report on Wednesday, November 19th. Wells Fargo & Company increased their price target on shares of Rocket Companies from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 5th. Finally, Zacks Research raised shares of Rocket Companies from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 14th. Five investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Rocket Companies currently has an average rating of “Hold” and a consensus price target of $19.32.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Cloud Capital Management LLC purchased a new position in shares of Rocket Companies in the third quarter valued at $25,000. Miller Wealth Advisors LLC lifted its holdings in shares of Rocket Companies by 65.0% in the 3rd quarter. Miller Wealth Advisors LLC now owns 1,650 shares of the company’s stock worth $32,000 after buying an additional 650 shares during the period. North Capital Inc. increased its position in Rocket Companies by 287.2% during the 2nd quarter. North Capital Inc. now owns 1,820 shares of the company’s stock valued at $26,000 after purchasing an additional 1,350 shares during the period. Private Capital Management LLC purchased a new position in shares of Rocket Companies in the 3rd quarter valued at $182,000. Finally, Newbridge Financial Services Group Inc. increased its holdings in shares of Rocket Companies by 875.0% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 1,950 shares of the company’s stock valued at $38,000 after acquiring an additional 1,750 shares during the period. Hedge funds and other institutional investors own 4.59% of the company’s stock.

About Rocket Companies

Rocket Companies, Inc is a Detroit-based holding company whose businesses are centered on digital mortgage origination and related consumer finance and real estate services. The company grew out of the Quicken Loans franchise and completed an initial public offering in 2020. Founder Dan Gilbert remains a prominent figure associated with the firm, which operates a suite of brands that aim to simplify the home financing and buying experience through technology and scale.

The company’s core activity is mortgage lending through its Rocket Mortgage platform, which offers online application, underwriting and servicing for home purchase and refinance loans.