Rocket Companies, Inc. (NYSE:RKT) CEO Jay Farner Purchases 28,800 Shares

Rocket Companies, Inc. (NYSE:RKTGet Rating) CEO Jay Farner purchased 28,800 shares of the firm’s stock in a transaction that occurred on Friday, September 23rd. The shares were bought at an average cost of $6.91 per share, with a total value of $199,008.00. Following the completion of the acquisition, the chief executive officer now owns 4,296,507 shares of the company’s stock, valued at $29,688,863.37. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

  • On Wednesday, September 21st, Jay Farner purchased 26,500 shares of Rocket Companies stock. The shares were bought at an average cost of $7.55 per share, with a total value of $200,075.00.
  • On Monday, September 19th, Jay Farner acquired 26,200 shares of Rocket Companies stock. The stock was acquired at an average price of $7.63 per share, with a total value of $199,906.00.
  • On Friday, September 16th, Jay Farner acquired 26,900 shares of Rocket Companies stock. The stock was acquired 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 stock was acquired 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 stock was acquired at an average price of $7.97 per share, with a total value of $199,250.00.
  • On Thursday, September 8th, Jay Farner purchased 26,100 shares of Rocket Companies stock. The stock was purchased at an average price of $7.64 per share, with a total value of $199,404.00.
  • On Wednesday, August 31st, Jay Farner purchased 25,200 shares of Rocket Companies stock. The stock was purchased at an average price of $7.91 per share, with a total value of $199,332.00.
  • On Monday, August 29th, Jay Farner purchased 24,000 shares of Rocket Companies stock. The stock was purchased at an average price of $8.33 per share, with a total value of $199,920.00.
  • On Friday, August 26th, Jay Farner purchased 21,200 shares of Rocket Companies stock. The stock was purchased at an average price of $8.81 per share, with a total value of $186,772.00.
  • On Wednesday, August 24th, Jay Farner purchased 21,500 shares of Rocket Companies stock. The stock was purchased at an average price of $9.27 per share, with a total value of $199,305.00.

Rocket Companies Trading Down 1.8 %

Shares of NYSE RKT traded down $0.13 during midday trading on Friday, hitting $7.00. The stock had a trading volume of 3,280,807 shares, compared to its average volume of 4,416,802. The company has a market capitalization of $13.79 billion, a price-to-earnings ratio of 5.48, a PEG ratio of 56.23 and a beta of 1.76. Rocket Companies, Inc. has a 1-year low of $6.27 and a 1-year high of $18.13. The company has a quick ratio of 14.97, a current ratio of 14.97 and a debt-to-equity ratio of 1.46. The company has a fifty day moving average price of $8.96 and a 200 day moving average price of $9.03.

Rocket Companies (NYSE:RKTGet Rating) last announced its earnings results on Thursday, August 4th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.05). The company had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Rocket Companies had a net margin of 1.85% and a return on equity of 19.79%. The business’s quarterly revenue was down 47.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.44 earnings per share. On average, analysts predict that Rocket Companies, Inc. will post 0.03 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently commented on the company. JPMorgan Chase & Co. cut Rocket Companies from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $11.00 to $8.50 in a research report on Tuesday, September 6th. Argus cut Rocket Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, May 31st. Keefe, Bruyette & Woods cut Rocket Companies from a “market perform” rating to an “underperform” rating and set a $6.50 price objective for the company. in a research report on Sunday, August 7th. Barclays dropped their price objective on Rocket Companies to $7.00 in a research report on Tuesday, August 9th. Finally, Citigroup raised their price target on Rocket Companies to $10.00 in a research note on Tuesday, August 9th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $9.88.

Institutional Investors Weigh In On Rocket Companies

A number of institutional investors have recently made changes to their positions in RKT. Castle Wealth Management LLC acquired a new position in Rocket Companies during the 2nd quarter worth $25,000. FMR LLC boosted its position in Rocket Companies by 134.7% during the 2nd quarter. FMR LLC now owns 3,598 shares of the company’s stock worth $26,000 after acquiring an additional 2,065 shares during the period. Captrust Financial Advisors lifted its holdings in shares of Rocket Companies by 178.2% in the second quarter. Captrust Financial Advisors now owns 4,451 shares of the company’s stock valued at $33,000 after buying an additional 2,851 shares during the period. Compagnie Lombard Odier SCmA acquired a new stake in shares of Rocket Companies in the second quarter valued at $43,000. Finally, Rockefeller Capital Management L.P. lifted its holdings in shares of Rocket Companies by 173.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 3,500 shares of the company’s stock valued at $49,000 after buying an additional 2,219 shares during the period. 4.16% of the stock is currently owned by institutional investors.

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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