Key Points
- CEO Jesse Bray sold 225,000 Rocket Companies shares at an average price of $13.11, generating approximately $2.95 million. The transaction, conducted under a Rule 10b5-1 plan, reduced his direct ownership by 2.75% to 7.95 million shares.
- Rocket Companies reported quarterly EPS of $0.16, matching estimates, while revenue reached $2.76 billion and increased 91.9% year over year, slightly below analyst expectations of $2.81 billion.
- Analysts hold a “Moderate Buy” consensus rating, with nine Buy and nine Hold ratings and an average price target of $19.57. The stock opened at $12.97, versus a 52-week range of $12.17 to $24.36.
Rocket Companies, Inc. (NYSE:RKT - Get Free Report) CEO Jesse Bray sold 225,000 shares of Rocket Companies stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $13.11, for a total value of $2,949,750.00. Following the completion of the transaction, the chief executive officer directly owned 7,953,027 shares of the company's stock, valued at $104,264,183.97. This represents a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Rocket Companies Price Performance
RKT opened at $12.97 on Thursday. The company has a debt-to-equity ratio of 1.16, a current ratio of 4.85 and a quick ratio of 4.85. The stock has a market capitalization of $36.72 billion, a P/E ratio of 92.63, a price-to-earnings-growth ratio of 3.62 and a beta of 2.20. The company's 50 day simple moving average is $13.87 and its 200-day simple moving average is $14.35. Rocket Companies, Inc. has a one year low of $12.17 and a one year high of $24.36.
Rocket Companies (NYSE:RKT - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. The firm had revenue of $2.76 billion during the quarter, compared to analysts' expectations of $2.81 billion. Rocket Companies had a return on equity of 5.13% and a net margin of 4.70%.The company's quarterly revenue was up 91.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.04 EPS. Sell-side analysts anticipate that Rocket Companies, Inc. will post 0.52 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of RKT. Smithfield Trust Co acquired a new stake in Rocket Companies during the fourth quarter worth approximately $32,000. Key Financial Inc bought a new position in shares of Rocket Companies during the fourth quarter worth approximately $32,000. Cassaday & Co Wealth Management LLC acquired a new stake in Rocket Companies during the 1st quarter worth approximately $34,000. Leonteq Securities AG bought a new stake in Rocket Companies in the 4th quarter valued at $71,000. Finally, Summit Securities Group LLC bought a new stake in Rocket Companies in the 1st quarter valued at $60,000. 4.59% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on RKT shares. Morgan Stanley upgraded Rocket Companies from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $18.00 to $19.00 in a report on Thursday, July 16th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $16.00 price target (up from $15.00) on shares of Rocket Companies in a research report on Wednesday, August 12th. JPMorgan Chase & Co. cut their price objective on Rocket Companies from $15.50 to $14.00 and set a "neutral" rating on the stock in a report on Friday, August 7th. Stephens decreased their price objective on Rocket Companies from $22.50 to $20.00 and set an "overweight" rating for the company in a research report on Friday, August 7th. Finally, BTIG Research reissued a "neutral" rating on shares of Rocket Companies in a research note on Tuesday, June 16th. Nine analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $19.57.
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Rocket Companies Company Profile
(
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Rocket Companies, Inc is a Detroit-based financial technology company that provides digital platforms and services for homeownership and personal finance. Its flagship business, Rocket Mortgage, originates and services residential mortgage loans through an online application and lending process, serving borrowers across the United States.
The company also operates Rocket Homes, a real estate platform that connects consumers with real estate agents and home-buying resources; Rocket Loans, which provides personal loans; and Rocket Money, a personal finance app designed to help users manage subscriptions, budgeting and other aspects of their financial lives.
Further Reading
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