Daily Stock Market News

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


Rocket Companies, Inc. (NYSE:RKTGet Rating) CEO Jay Farner acquired 22,200 shares of Rocket Companies stock in a transaction on Friday, April 29th. The stock was purchased at an average cost of $8.98 per share, with a total value of $199,356.00. Following the purchase, the chief executive officer now directly owns 1,922,407 shares of the company’s stock, valued at approximately $17,263,214.86. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

  • On Wednesday, April 27th, Jay Farner acquired 22,800 shares of Rocket Companies stock. The stock was purchased at an average cost of $8.75 per share, with a total value of $199,500.00.
  • On Monday, April 25th, Jay Farner acquired 21,700 shares of Rocket Companies stock. The stock was purchased at an average cost of $9.21 per share, with a total value of $199,857.00.
  • On Friday, April 22nd, Jay Farner acquired 22,400 shares of Rocket Companies stock. The stock was purchased at an average cost of $8.93 per share, with a total value of $200,032.00.
  • On Wednesday, April 20th, Jay Farner bought 21,400 shares of Rocket Companies stock. The shares were bought at an average cost of $9.34 per share, for a total transaction of $199,876.00.
  • On Monday, April 18th, Jay Farner bought 21,600 shares of Rocket Companies stock. The shares were bought at an average cost of $9.25 per share, for a total transaction of $199,800.00.
  • On Wednesday, April 13th, Jay Farner bought 20,800 shares of Rocket Companies stock. The shares were bought at an average cost of $9.57 per share, for a total transaction of $199,056.00.
  • On Monday, April 11th, Jay Farner bought 20,300 shares of Rocket Companies stock. The shares were bought at an average cost of $9.82 per share, for a total transaction of $199,346.00.
  • On Friday, April 8th, Jay Farner bought 20,400 shares of Rocket Companies stock. The shares were bought at an average cost of $9.80 per share, for a total transaction of $199,920.00.
  • On Wednesday, April 6th, Jay Farner bought 19,500 shares of Rocket Companies stock. The shares were bought at an average cost of $10.24 per share, for a total transaction of $199,680.00.
  • On Monday, April 4th, Jay Farner bought 8,600 shares of Rocket Companies stock. The shares were bought at an average cost of $11.52 per share, for a total transaction of $99,072.00.
(Ad)

Equity crowdfunding bridges the gap between cash-strapped startups and retail investors. This market leader’s vision is to disrupt private equity and bring opportunities to everyday investors by allowing them to pool resources and take part in the initial stages of privately held companies.

Reg. A+ via StartEngine Primary, LLC. Offering Circular/Risks on Page. Investment is speculative, illiquid, & high risk.

Shares of NYSE RKT traded down $0.12 during mid-day trading on Friday, hitting $8.85. The company had a trading volume of 5,445,234 shares, compared to its 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 ratio of 0.94 and a beta of 1.31. Rocket Companies, Inc. has a 1 year low of $8.49 and a 1 year high of $23.33. The company has a current ratio of 21.68, a quick ratio of 21.68 and a debt-to-equity 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:RKTGet Rating) last announced its quarterly earnings results on Thursday, February 24th. The company reported $0.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.06). The company had revenue of $2.59 billion during 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’s revenue for the quarter was down 44.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.12 earnings per share. As a group, equities research analysts forecast that Rocket Companies, Inc. will post 0.98 earnings per share for the current year.

The business also recently declared a dividend, which was paid on Tuesday, March 22nd. Stockholders of record on Tuesday, March 8th were given a $1.01 dividend. The ex-dividend date of this dividend was Monday, March 7th.

Several hedge funds and other institutional investors have recently made changes to their positions in RKT. Moors & Cabot Inc. purchased a new position in shares of Rocket Companies in the third quarter valued at $31,000. Rockefeller Capital Management L.P. grew its position in Rocket Companies by 173.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 3,500 shares of the company’s stock worth $49,000 after buying an additional 2,219 shares in the last quarter. Patriot Financial Group Insurance Agency LLC grew 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’s stock worth $58,000 after buying an additional 1,920 shares in the last quarter. New York State Teachers Retirement System purchased a new position in Rocket Companies during the fourth quarter worth about $73,000. Finally, Pinebridge Investments L.P. purchased a new position in Rocket Companies during the fourth quarter worth about $74,000. Institutional investors own 3.74% of the company’s stock.

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

Rocket Companies Company Profile (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.

Read More

Insider Buying and Selling by Quarter for Rocket Companies (NYSE:RKT)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Should you invest $1,000 in Rocket Companies right now?

Before you consider Rocket Companies, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Rocket Companies wasn’t on the list.

While Rocket Companies currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.

View The 5 Stocks Here

 



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

You might also like