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 stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $18.99, for a total value of $47,475.00. Following the transaction, the director owned 1,071,036 shares of the company’s stock, valued at approximately $20,338,973.64. The trade was a 0.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

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

• 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 value of $48,025.00.
• On Wednesday, December 17th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The stock was 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 shares were 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 transaction 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 transaction 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.
• 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 Stock Performance

NYSE RKT traded down $0.16 during trading on Tuesday, reaching $19.08. 13,405,673 shares of the company’s stock were exchanged, compared to its average volume of 20,379,885. The company has a debt-to-equity ratio of 2.16, a current ratio of 19.68 and a quick ratio of 19.68. The stock has a market capitalization of $40.14 billion, a P/E ratio of 238.47 and a beta of 2.26. Rocket Companies, Inc. has a fifty-two week low of $10.06 and a fifty-two week high of $22.56. The business has a 50 day moving average price of $17.87 and a 200-day moving average price of $17.13.

Rocket Companies (NYSE:RKT) last announced its quarterly earnings results 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 positive return on equity of 2.83% and a negative net margin of 1.77%.The business had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter last year, the firm posted $0.08 EPS. The company’s quarterly revenue was up 148.1% on a year-over-year basis. Sell-side analysts forecast that Rocket Companies, Inc. will post 0.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have weighed in on RKT. Royal Bank Of Canada lifted their price objective on shares of Rocket Companies from $17.00 to $20.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 8th. Jefferies Financial Group started coverage on shares of Rocket Companies in a research note on Friday. They set a “buy” rating and a $25.00 price objective on the stock. Morgan Stanley boosted their target price on shares of Rocket Companies from $16.00 to $18.00 and gave the company an “equal weight” rating in a research report on Monday, September 29th. Oppenheimer assumed coverage on shares of Rocket Companies in a report on Thursday, November 13th. They set an “outperform” rating and a $25.00 price target for the company. Finally, Wells Fargo & Company lifted their price objective on shares of Rocket Companies from $15.00 to $17.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 5th. Five equities research 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, the stock has a consensus rating of “Hold” and a consensus price target of $19.32.

Hedge Funds Weigh In On Rocket Companies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cloud Capital Management LLC bought a new stake in shares of Rocket Companies during the third quarter worth $25,000. Miller Wealth Advisors LLC boosted its holdings in shares of Rocket Companies by 65.0% during the 3rd quarter. Miller Wealth Advisors LLC now owns 1,650 shares of the company’s stock valued at $32,000 after acquiring an additional 650 shares in the last quarter. North Capital Inc. grew 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 worth $26,000 after acquiring an additional 1,350 shares during the last quarter. Private Capital Management LLC acquired a new position in Rocket Companies in the 3rd quarter worth about $182,000. Finally, Newbridge Financial Services Group Inc. increased its holdings in Rocket Companies by 875.0% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 1,950 shares of the company’s stock worth $38,000 after purchasing an additional 1,750 shares in the last quarter. Institutional investors own 4.59% of the company’s stock.

Rocket Companies Company Profile

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.