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

Rocket Companies, Inc. (NYSE:RKT) Director Matthew Rizik sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, December 24th. The shares were sold at an average price of $19.44, for a total transaction of $48,600.00. Following the transaction, the director directly owned 1,066,036 shares of the company’s stock, valued at approximately $20,723,739.84. This represents a 0.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Friday, December 26th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The stock was sold at an average price of $19.38, for a total transaction of $48,450.00.
• On Monday, December 22nd, 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 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 transaction 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 value 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 value 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 value 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 value 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 value 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 transaction 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 transaction of $41,750.00.

Rocket Companies Price Performance

RKT stock opened at $19.40 on Tuesday. The firm has a 50 day simple moving average of $18.12 and a two-hundred day simple moving average of $17.35. The stock has a market cap of $40.83 billion, a PE ratio of 242.57 and a beta of 2.26. Rocket Companies, Inc. has a one year low of $10.06 and a one year high of $22.56. The company has a debt-to-equity ratio of 2.16, a current ratio of 19.68 and a quick ratio of 19.68.

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RKT. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Rocket Companies in a report on Monday, October 13th. Zacks Research raised shares of Rocket Companies from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 14th. BTIG Research restated a “buy” rating and issued a $25.00 price objective on shares of Rocket Companies in a research report on Wednesday, November 19th. Oppenheimer began coverage on shares of Rocket Companies in a report on Thursday, November 13th. They set an “outperform” rating and a $25.00 target price for the company. Finally, Royal Bank Of Canada raised their target price on Rocket Companies from $17.00 to $20.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $19.32.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in RKT. ValueAct Holdings L.P. grew its stake in shares of Rocket Companies by 67.9% during the 3rd quarter. ValueAct Holdings L.P. now owns 25,395,627 shares of the company’s stock valued at $492,167,000 after acquiring an additional 10,270,018 shares during the period. Vanguard Group Inc. raised its stake in Rocket Companies by 29.5% during the 3rd quarter. Vanguard Group Inc. now owns 22,945,500 shares of the company’s stock worth $444,684,000 after acquiring an additional 5,226,931 shares during the period. Boston Partners lifted its holdings in Rocket Companies by 6.2% during the second quarter. Boston Partners now owns 14,560,706 shares of the company’s stock valued at $206,610,000 after purchasing an additional 856,367 shares in the last quarter. Durable Capital Partners LP bought a new position in shares of Rocket Companies in the third quarter worth approximately $213,010,000. Finally, Wellington Management Group LLP increased its stake in shares of Rocket Companies by 30.6% in the third quarter. Wellington Management Group LLP now owns 6,298,220 shares of the company’s stock worth $122,060,000 after purchasing an additional 1,474,040 shares in the last quarter. 4.59% of the stock is currently owned by institutional investors.

About Rocket Companies

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.