Matthew Rizik Sells 2,500 Shares of Rocket Companies (NYSE:RKT) Stock

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

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

• On Monday, December 8th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The stock was sold at an average price of $18.78, for a total value of $46,950.00.
• 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 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.
• 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 Price Performance

Rocket Companies stock opened at $18.98 on Wednesday. The firm has a market capitalization of $39.94 billion, a PE ratio of 237.23 and a beta of 2.26. Rocket Companies, Inc. has a 52 week low of $10.06 and a 52 week high of $22.56. The firm’s 50-day simple moving average is $17.59 and its 200 day simple moving average is $16.75. The company has a quick ratio of 19.68, a current ratio of 19.68 and a debt-to-equity ratio of 2.16.

Rocket Companies (NYSE:RKT) last announced its earnings results on Thursday, October 30th. The company reported $0.07 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.07. The company had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Rocket Companies had a negative net margin of 1.77% and a positive return on equity of 2.83%. The firm’s quarterly revenue was up 148.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.08 earnings per share. On average, equities research analysts predict that Rocket Companies, Inc. will post 0.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. boosted its holdings in Rocket Companies by 18.4% in the second quarter. PNC Financial Services Group Inc. now owns 3,890 shares of the company’s stock valued at $55,000 after purchasing an additional 605 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Rocket Companies by 3.5% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 18,817 shares of the company’s stock worth $365,000 after buying an additional 636 shares during the last quarter. Miller Wealth Advisors LLC boosted 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 valued at $32,000 after buying an additional 650 shares during the period. Parallel Advisors LLC boosted its holdings in shares of 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 buying an additional 677 shares during the period. Finally, Amundi raised its stake in Rocket Companies by 2.3% during the second quarter. Amundi now owns 34,170 shares of the company’s stock worth $498,000 after acquiring an additional 754 shares during the period. 4.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on RKT shares. BTIG Research reiterated a “buy” rating and set a $25.00 target price on shares of Rocket Companies in a report on Wednesday, November 19th. Bank of America raised Rocket Companies from a “neutral” rating to a “buy” rating and increased their price objective for the company from $21.00 to $24.00 in a research note on Wednesday, September 10th. Oppenheimer began coverage on Rocket Companies in a research report on Thursday, November 13th. They set an “outperform” rating and a $25.00 price objective for the company. Royal Bank Of Canada upped 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. Finally, UBS Group set a $17.00 price target on shares of Rocket Companies and gave the stock a “neutral” rating in a report on Friday, October 10th. Four investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Rocket Companies has a consensus rating of “Hold” and a consensus price target of $18.18.

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.