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 the firm’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $18.78, for a total transaction of $46,950.00. Following the sale, the director owned 1,096,036 shares of the company’s stock, valued at approximately $20,583,556.08. This represents a 0.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• 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 transaction of $49,650.00.
• On Tuesday, November 25th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The shares were sold at an average price of $19.29, for a total transaction 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 value of $41,750.00.
• On Thursday, November 13th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The stock was sold at an average price of $17.47, for a total value of $43,675.00.

Rocket Companies Stock Up 0.9%

Shares of Rocket Companies stock traded up $0.17 during trading on Tuesday, hitting $18.98. 13,605,412 shares of the stock traded hands, compared to its average volume of 20,478,518. The stock has a market cap of $39.94 billion, a P/E ratio of 237.23 and a beta of 2.26. The company has a fifty day moving average price of $17.60 and a two-hundred day moving average price of $16.71. Rocket Companies, Inc. has a twelve month low of $10.06 and a twelve month high of $22.56. 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 (NYSE:RKT) last released its quarterly earnings data on Thursday, October 30th. The company reported $0.07 EPS for the quarter, hitting analysts’ consensus estimates of $0.07. The firm had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.65 billion. Rocket Companies had a positive return on equity of 2.83% and a negative net margin of 1.77%.The firm’s revenue was up 148.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.08 earnings per share. Equities research analysts predict that Rocket Companies, Inc. will post 0.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Rocket Companies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its position in shares of Rocket Companies by 18.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,890 shares of the company’s stock worth $55,000 after acquiring an additional 605 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Rocket Companies by 3.5% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 18,817 shares of the company’s stock worth $365,000 after purchasing an additional 636 shares in the last quarter. Miller Wealth Advisors LLC increased its holdings in shares of Rocket Companies by 65.0% during the third quarter. Miller Wealth Advisors LLC now owns 1,650 shares of the company’s stock worth $32,000 after buying an additional 650 shares in the last quarter. Parallel Advisors LLC raised its position in Rocket Companies by 26.1% in the 3rd quarter. Parallel Advisors LLC now owns 3,267 shares of the company’s stock valued at $63,000 after purchasing an additional 677 shares during the last quarter. Finally, Amundi boosted its position in shares of Rocket Companies by 2.3% in the 2nd quarter. Amundi now owns 34,170 shares of the company’s stock worth $498,000 after purchasing an additional 754 shares during the last quarter. 4.59% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on RKT. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $22.00 price objective (up previously from $16.00) on shares of Rocket Companies in a research note on Wednesday, October 29th. Bank of America raised Rocket Companies from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $21.00 to $24.00 in a research report on Wednesday, September 10th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Rocket Companies in a report on Monday, October 13th. Weiss Ratings restated a “sell (d)” rating on shares of Rocket Companies in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada upped their target price on Rocket Companies from $17.00 to $20.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 8th. Four 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 stock. According to MarketBeat.com, Rocket Companies presently has a consensus rating of “Hold” and a consensus price target of $18.18.

About Rocket Companies

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.