Key Points
- Director Matthew Rizik sold 2,500 shares on Dec. 17 at $18.21 (a 0.23% reduction), leaving him with 1,078,536 shares worth about $19.64 million.
- This was one of eight sales between Nov. 13 and Dec. 17 — a total of 20,000 shares sold for roughly $371,175.
- Rocket Companies shares trade around $19 (opened at $19.08), with analysts holding an average "Hold" rating and a mean price target of $19.32; the company has a market cap of about $40.15 billion and a PE of 238.53.
Rocket Companies, Inc. (NYSE:RKT - Get Free Report) Director Matthew Rizik sold 2,500 shares of the stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $18.21, for a total value of $45,525.00. Following the transaction, the director owned 1,078,536 shares in the company, valued at $19,640,140.56. This trade represents a 0.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Matthew Rizik also recently made the following trade(s):
- On Friday, December 12th, Matthew Rizik sold 2,500 shares of Rocket Companies stock. The stock was 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 shares were 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 stock was 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 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 shares were sold at an average price of $16.70, for a total transaction 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 transaction of $43,675.00.
Rocket Companies Stock Performance
Rocket Companies stock opened at $19.08 on Friday. The firm has a fifty day simple moving average of $17.81 and a two-hundred day simple moving average of $17.02. 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, Inc. has a twelve month low of $10.06 and a twelve month high of $22.56. The company has a market capitalization of $40.15 billion, a PE ratio of 238.53 and a beta of 2.26.
Rocket Companies (NYSE:RKT - Get Free Report) last released its quarterly earnings data on Thursday, October 30th. The company reported $0.07 EPS for the quarter, hitting 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 firm had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the previous year, the business earned $0.08 earnings per share. The company's quarterly revenue was up 148.1% on a year-over-year basis. Research analysts expect that Rocket Companies, Inc. will post 0.15 EPS for the current year.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of Rocket Companies by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 12,793,549 shares of the company's stock valued at $154,418,000 after purchasing an additional 273,475 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Rocket Companies by 8.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,266,399 shares of the company's stock worth $15,285,000 after buying an additional 103,156 shares during the period. Swiss National Bank boosted its position in Rocket Companies by 7.8% during the 1st quarter. Swiss National Bank now owns 268,400 shares of the company's stock valued at $3,240,000 after acquiring an additional 19,500 shares in the last quarter. Invesco Ltd. boosted its position in Rocket Companies by 53.6% during the 1st quarter. Invesco Ltd. now owns 295,327 shares of the company's stock valued at $3,565,000 after acquiring an additional 103,075 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of Rocket Companies by 804.9% during the 1st quarter. Russell Investments Group Ltd. now owns 13,800 shares of the company's stock worth $167,000 after acquiring an additional 12,275 shares during the period. 4.59% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on the company. The Goldman Sachs Group reissued a "neutral" rating and set 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 upgraded shares of Rocket Companies from a "neutral" rating to a "buy" rating and upped their price target for the company from $21.00 to $24.00 in a report on Wednesday, September 10th. Zacks Research raised shares of Rocket Companies from a "strong sell" rating to a "hold" rating in a report on Tuesday, October 14th. Wall Street Zen cut shares of Rocket Companies from a "hold" rating to a "sell" rating in a research report on Saturday, November 8th. Finally, Barclays set a $19.00 target price on shares of Rocket Companies and gave the stock a "cautious" rating in a report on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Rocket Companies presently has an average rating of "Hold" and an average price target of $19.32.
Get Our Latest Stock Analysis on Rocket Companies
Rocket Companies Company Profile
(
Get Free Report)
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.
Further Reading
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