Insider buying: CEO of Rocket Companies, Inc. (NYSE: RKT) buys 27,900 shares



Rocket Companies, Inc. (NYSE: RKTGet a rating) CEO Jay Farner bought 27,900 shares in a trade on Thursday, June 23. The shares were acquired at an average cost of $7.15 per share, with a total value of $199,485.00. Following the transaction, the CEO now directly owns 2,826,307 shares of the company, valued at $20,208,095.05. The purchase was disclosed in an SEC filing, available at the SEC website.

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

  • On Tuesday, June 21, Jay Farner purchased 29,700 shares of Rocket Companies. The shares were purchased at an average cost of $6.73 per share, with a total value of $199,881.00.
  • On Friday, June 17, Jay Farner purchased 31,100 shares of Rocket Companies. The shares were purchased at an average cost of $6.46 per share, with a total value of $200,906.00.
  • On Wednesday, June 15, Jay Farner purchased 28,800 shares of Rocket Companies. The shares were purchased at an average cost of $6.99 per share, with a total value of $201,312.00.
  • On Monday, June 13, Jay Farner purchased 27,200 shares of Rocket Companies. The shares were purchased at an average cost of $7.36 per share, with a total value of $200,192.00.
  • On Wednesday, June 8, Jay Farner purchased 23,300 shares of Rocket Companies. The shares were purchased at an average cost of $8.58 per share, with a total value of $199,914.00.
  • On Monday, June 6, Jay Farner purchased 23,100 shares of Rocket Companies. The shares were purchased at an average cost of $8.66 per share, with a total value of $200,046.00.
  • On Thursday, June 2, Jay Farner purchased 22,500 shares of Rocket Companies. The stock was purchased at an average price of $8.88 per share, for a total transaction of $199,800.00.
  • On Tuesday, May 31, Jay Farner purchased 21,700 shares of Rocket Companies. The stock was purchased at an average price of $9.21 per share, for a total transaction of $199,857.00.
  • On Wednesday, May 25, Jay Farner purchased 22,400 shares of Rocket Companies. The stock was purchased at an average price of $8.93 per share, for a total transaction of $200,032.00.
  • On Monday, May 23, Jay Farner purchased 22,600 shares of Rocket Companies. The stock was purchased at an average price of $8.81 per share, for a total transaction of $199,106.00.

Shares of Rocket Company Stocks opened at $7.73 on Friday. Rocket Companies, Inc. has a one-year low of $6.27 and a one-year high of $20.84. The stock’s fifty-day moving average is $8.40 and its 200-day moving average is $11.14. The stock has a market capitalization of $15.23 billion, a P/E ratio of 4.66, a P/E/G ratio of 2.81 and a beta of 1.38. The company has a debt ratio of 1.40, a quick ratio of 13.54 and a current ratio of 13.54.

Rocket Companies (NYSE: RKTGet a rating) last released its quarterly results on Tuesday, May 10. The company reported EPS of $0.12 for the quarter, missing analyst consensus estimates of $0.16 per ($0.04). The company posted revenue of $1.93 billion for the quarter, versus a consensus estimate of $2.24 billion. Rocket Companies had a net margin of 2.16% and a return on equity of 31.45%. Rocket Companies revenue was down 52.2% from the same quarter last year. In the same period of the previous year, the company had earned earnings per share of $0.55. Analysts predict that Rocket Companies, Inc. will post EPS of 0.26 for the current year.

Major investors have recently been buying and selling shares of the company. Rockefeller Capital Management LP increased its holdings in Rocket Companies by 173.2% during the fourth quarter. Rockefeller Capital Management LP now owns 3,500 shares of the company valued at $49,000 after acquiring 2,219 additional shares during the period. Ancora Advisors LLC bought a new stake in shares of Rocket Companies in the first quarter for a value of approximately $81,000. Patriot Financial Group Insurance Agency LLC increased its holdings of Rocket Companies stock by 111.6% in 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. US Bancorp DE increased its holdings of Rocket Companies shares by 341.4% in the first quarter. US Bancorp DE now owns 4,414 shares of the company worth $49,000 after buying 3,414 more shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of Rocket Companies in the first quarter for a value of around $52,000. 3.71% of the shares are currently held by institutional investors and hedge funds.

Several analysts have weighed in on the company recently. Wells Fargo & Company cut its price target on Rocket Companies from $8.00 to $6.50 and set an “equal weight” rating on the stock in a Friday, June 17 research note. Argus downgraded Rocket Companies from a “buy” rating to a “hold” rating in a Tuesday, May 31 research note. Barclays cut its target price on Rocket Companies from $14.00 to $13.00 and set an “equal weight” rating on the stock in a Tuesday, April 12 research note. Wedbush cut its price target on Rocket Companies to $7.00 and gave the stock an “na” rating in a Tuesday, May 17 research note. Finally, Citigroup downgraded Rocket Companies from a “buy” rating to a “neutral” rating and reduced its target price for the company from $14.00 to $8.00 in a Wednesday, May 11 research note. One analyst rated the stock with a sell rating, eleven issued a hold rating and one issued a buy rating for the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $11.08.

Company Profile Rocket Companies (Get a rating)

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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