Rocket Companies, Inc. (NYSE:RKT – Get Rating) CEO Jay Farner acquired 21,200 shares of the business’s stock in a transaction dated Friday, August 26th. The stock was purchased at an average price of $8.81 per share, for a total transaction of $186,772.00. Following the completion of the acquisition, the chief executive officer now owns 3,797,107 shares in the company, valued at $33,452,512.67. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink.
Jay Farner also recently made the following trade(s):
- On Wednesday, August 24th, Jay Farner acquired 21,500 shares of Rocket Companies stock. The stock was purchased at an average price of $9.27 per share, for a total transaction of $199,305.00.
- On Monday, August 22nd, Jay Farner acquired 21,400 shares of Rocket Companies stock. The stock was purchased at an average price of $9.33 per share, for a total transaction of $199,662.00.
- On Thursday, August 18th, Jay Farner acquired 19,100 shares of Rocket Companies stock. The stock was purchased at an average price of $10.46 per share, for a total transaction of $199,786.00.
- On Wednesday, August 10th, Jay Farner acquired 19,800 shares of Rocket Companies stock. The stock was purchased at an average price of $10.06 per share, for a total transaction of $199,188.00.
- On Monday, August 8th, Jay Farner acquired 20,700 shares of Rocket Companies stock. The stock was purchased at an average price of $9.60 per share, for a total transaction of $198,720.00.
- On Friday, August 5th, Jay Farner bought 20,600 shares of Rocket Companies stock. The shares were bought at an average price of $9.68 per share, for a total transaction of $199,408.00.
- On Wednesday, August 3rd, Jay Farner bought 19,500 shares of Rocket Companies stock. The shares were bought at an average price of $10.24 per share, for a total transaction of $199,680.00.
- On Monday, August 1st, Jay Farner bought 20,500 shares of Rocket Companies stock. The shares were bought at an average price of $9.72 per share, for a total transaction of $199,260.00.
- On Friday, July 29th, Jay Farner bought 21,000 shares of Rocket Companies stock. The shares were bought at an average price of $9.49 per share, for a total transaction of $199,290.00.
- On Wednesday, July 27th, Jay Farner bought 21,500 shares of Rocket Companies stock. The shares were bought at an average price of $9.28 per share, for a total transaction of $199,520.00.
Rocket Companies Stock Down 10.7 %
Shares of Rocket Companies stock opened at $8.44 on Monday. The stock’s fifty day moving average is $9.02 and its 200-day moving average is $9.64. The firm has a market capitalization of $16.63 billion, a PE ratio of 6.59, a price-to-earnings-growth ratio of 37.96 and a beta of 1.72. The company has a quick ratio of 14.97, a current ratio of 14.97 and a debt-to-equity ratio of 1.46. Rocket Companies, Inc. has a 12-month low of $6.27 and a 12-month high of $18.13.
Rocket Companies (NYSE:RKT – Get Rating) last issued its quarterly earnings results on Thursday, August 4th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.05). Rocket Companies had a net margin of 1.85% and a return on equity of 19.79%. The business had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the prior year, the firm posted $0.44 EPS. The business’s quarterly revenue was down 47.8% compared to the same quarter last year. Equities analysts anticipate that Rocket Companies, Inc. will post 0.05 earnings per share for the current year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the business. Sage Private Wealth Group LLC grew its holdings in shares of Rocket Companies by 11.4% during the second quarter. Sage Private Wealth Group LLC now owns 10,188 shares of the company’s stock valued at $75,000 after buying an additional 1,041 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Rocket Companies by 16.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 9,037 shares of the company’s stock valued at $67,000 after buying an additional 1,244 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in shares of Rocket Companies by 7.6% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 17,689 shares of the company’s stock valued at $197,000 after buying an additional 1,250 shares in the last quarter. Bank of Nova Scotia grew its stake in Rocket Companies by 3.3% in the first quarter. Bank of Nova Scotia now owns 61,090 shares of the company’s stock valued at $679,000 after purchasing an additional 1,953 shares in the last quarter. Finally, FMR LLC grew its stake in Rocket Companies by 134.7% in the second quarter. FMR LLC now owns 3,598 shares of the company’s stock valued at $26,000 after purchasing an additional 2,065 shares in the last quarter. Hedge funds and other institutional investors own 3.71% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts recently commented on RKT shares. Credit Suisse Group dropped their target price on Rocket Companies to $9.00 and set a “neutral” rating on the stock in a report on Thursday, May 19th. Wells Fargo & Company upgraded Rocket Companies from an “equal weight” rating to an “overweight” rating and set a $10.00 price objective for the company in a research note on Wednesday, July 6th. Royal Bank of Canada lowered their price objective on Rocket Companies from $18.00 to $9.00 in a research note on Thursday, May 12th. Citigroup raised their price objective on Rocket Companies to $10.00 in a research note on Tuesday, August 9th. Finally, Keefe, Bruyette & Woods lowered Rocket Companies from a “market perform” rating to an “underperform” rating and set a $6.50 price objective for the company. in a research note on Sunday, August 7th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $10.42.
About Rocket Companies
(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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