Rocket Companies, Inc. (NYSE: RKT) CEO Jay Farner Acquires 22,200 Shares

Rocket Companies, Inc. (NYSE:RKT – Get Rating) CEO Jay Farner acquired 22,200 shares of Rocket Companies in a transaction on Friday, April 29. The shares were purchased at an average cost of $8.98 per share, with a total value of $199,356.00. As a result of the purchase, the CEO now directly owns 1,922,407 shares of the company, valued at approximately $17,263,214.86. The purchase was disclosed in a legal filing with the SEC, accessible via this hyperlink.

Jay Farner also recently made the following trade(s):

  • On Wednesday, April 27, Jay Farner acquired 22,800 shares of Rocket Companies. The shares were purchased at an average cost of $8.75 per share, with a total value of $199,500.00.
  • On Monday, April 25, Jay Farner acquired 21,700 shares of Rocket Companies. The shares were purchased at an average cost of $9.21 per share, with a total value of $199,857.00.
  • On Friday, April 22, Jay Farner acquired 22,400 shares of Rocket Companies. The shares were purchased at an average cost of $8.93 per share, with a total value of $200,032.00.
  • On Wednesday, April 20, Jay Farner purchased 21,400 shares of Rocket Companies. The shares were purchased at an average cost of $9.34 per share, for a total transaction of $199,876.00.
  • On Monday, April 18, Jay Farner purchased 21,600 shares of Rocket Companies. The shares were purchased at an average cost of $9.25 per share, for a total transaction of $199,800.00.
  • On Wednesday, April 13, Jay Farner purchased 20,800 shares of Rocket Companies. The shares were purchased at an average cost of $9.57 per share, for a total transaction of $199,056.00.
  • On Monday, April 11, Jay Farner purchased 20,300 shares of Rocket Companies. The shares were purchased at an average cost of $9.82 per share, for a total transaction of $199,346.00.
  • On Friday April 8, Jay Farner purchased 20,400 shares of Rocket Companies. The shares were purchased at an average cost of $9.80 per share, for a total transaction of $199,920.00.
  • On Wednesday, April 6, Jay Farner purchased 19,500 shares of Rocket Companies. The shares were purchased at an average cost of $10.24 per share, for a total transaction of $199,680.00.
  • On Monday, April 4, Jay Farner purchased 8,600 shares of Rocket Companies. The shares were purchased at an average cost of $11.52 per share, for a total transaction of $99,072.00.
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Shares of NYSE RKT traded down $0.12 during Friday’s midday session, hitting $8.85. The company had a trading volume of 5,445,234 shares, compared to an average volume of 5,392,309. The company has a market capitalization of $17.56 billion, a price-to-earnings ratio of 3.85, a P /E/G of 0.94 and a beta of 1.31. Rocket Companies, Inc. has a 1-year minimum of $8.49 and a 1-year maximum of $23.33. The company has a current ratio of 21.68, a quick ratio of 21.68 and a debt ratio of 1.92. The stock’s 50-day moving average price is $10.78 and its 200-day moving average price is $13.47.

Rocket Companies (NYSE:RKT – Get Rating) last reported quarterly results on Thursday, February 24. The company reported earnings per share of $0.30 for the quarter, missing Thomson Reuters consensus estimate of $0.36 per ($0.06). The company posted revenue of $2.59 billion in the quarter, compared to analysts’ expectations of $2.62 billion. Rocket Companies had a net margin of 2.38% and a return on equity of 48.76%. Rocket Companies’ revenue for the quarter was down 44.6% from the same quarter last year. In the same quarter last year, the company posted earnings per share of $1.12. As a group, equity research analysts expect Rocket Companies, Inc. to post 0.98 earnings per share for the current year.

The company also recently declared a dividend, which was paid on Tuesday, March 22. Shareholders of record on Tuesday, March 8 received a dividend of $1.01. The ex-dividend date was Monday, March 7.

Several hedge funds and other institutional investors have recently changed their positions in RKT. Moors & Cabot Inc. bought a new position in shares of Rocket Companies in the third quarter worth $31,000. Rockefeller Capital Management LP increased its position in Rocket Companies by 173.2% during the fourth quarter. Rockefeller Capital Management LP now owns 3,500 shares of the company worth $49,000 after buying 2,219 more shares last quarter. Patriot Financial Group Insurance Agency LLC increased its position in Rocket Companies by 111.6% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 3,640 shares of the company worth $58,000 after purchasing an additional 1,920 shares in the last quarter. The New York State Teachers’ Retirement System bought a new position in Rocket Companies during the fourth quarter worth about $73,000. Finally, Pinebridge Investments LP acquired a new position in Rocket Companies during the fourth quarter worth approximately $74,000. Institutional investors hold 3.74% of the company’s shares.

A number of analysts have recently commented on RKT’s actions. Zacks Investment Research downgraded Rocket Companies from a “hold” rating to a “strong sell” rating in a Wednesday, March 2 report. Morgan Stanley lowered its price target on Rocket Companies from $12.00 to $11.00 and set an “equal weight” rating on the stock in a Thursday, April 7 report. Wedbush upgraded Rocket Companies from an “underperforming” rating to a “neutral” rating and set a price target of $14.00 for the stock in a Monday, Jan. 3, report. They noted that the move was a review call. Goldman Sachs Group lowered its price target on Rocket Companies from $14.00 to $11.50 and set a “neutral” rating on the stock in a Monday, April 4 report. Finally, Credit Suisse Group lowered its price target on Rocket Companies from $16.00 to $13.00 and set a “neutral” rating on the stock in a Friday, Feb. 25 research note. Two analysts rated the stock with a sell rating, nine gave the company a hold rating and three gave the company’s stock a buy rating. Based on data from MarketBeat.com, Rocket Companies has a consensus rating of “Hold” and an average target price of $15.46.

Company Profile Rocket Companies (Get an assessment)

Rocket Companies, Inc. operates in the technology-driven real estate, mortgage, and e-commerce industries 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 which provides title insurance, real estate appraisal and settlement services; Rocket Homes, a home search platform and realtor referral network, which offers technology services to support the home buying and selling experience; Rocket Auto, an automotive retail marketplace that provides centralized, virtual car-selling support to online car-buying platforms; and Rocket Loans, an online personal loan company.

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Insider buying and selling by quarter for rocket companies (NYSE: RKT)

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