Rocket Companies (NYSE:RKT) CEO Sells 132,700 Shares of Stock

Rocket Companies, Inc. (NYSE:RKT – Get Free Report) CEO Jesse Bray sold 132,700 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $12.01, for a total transaction of $1,593,727.00. Following the completion of the transaction, the chief executive officer owned 7,820,327 shares of the company’s stock, valued at $93,922,127.27. The trade was a 1.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Rocket Companies Price Performance

Shares of Rocket Companies stock traded down $0.27 on Friday, reaching $11.70. 39,087,496 shares of the stock were exchanged, compared to its average volume of 29,643,492. The company has a debt-to-equity ratio of 1.16, a quick ratio of 4.85 and a current ratio of 4.85. The firm has a market cap of $33.13 billion, a PE ratio of 83.58, a P/E/G ratio of 3.16 and a beta of 2.23. The firm’s 50 day moving average is $13.43 and its 200-day moving average is $14.06. Rocket Companies, Inc. has a one year low of $11.25 and a one year high of $24.36.

Rocket Companies (NYSE:RKT – Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.16. The business had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.81 billion. Rocket Companies had a net margin of 4.70% and a return on equity of 5.13%. The firm’s quarterly revenue was up 91.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.04 EPS. As a group, analysts anticipate that Rocket Companies, Inc. will post 0.52 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on RKT shares. JPMorgan Chase & Co. cut their target price on shares of Rocket Companies from $15.50 to $14.00 and set a “neutral” rating on the stock in a research report on Friday, August 7th. BTIG Research reaffirmed a “neutral” rating on shares of Rocket Companies in a research note on Tuesday, June 16th. Keefe, Bruyette & Woods cut their price target on shares of Rocket Companies from $20.00 to $19.00 and set an “outperform” rating on the stock in a report on Monday, August 10th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $16.00 price objective (up from $15.00) on shares of Rocket Companies in a research note on Wednesday, August 12th. Finally, Barclays decreased their price objective on Rocket Companies from $19.00 to $17.00 and set an “overweight” rating for the company in a report on Tuesday, July 7th. Nine research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, Rocket Companies has a consensus rating of “Moderate Buy” and a consensus target price of $19.57.

Check Out Our Latest Research Report on Rocket Companies

Institutional Trading of Rocket Companies

Institutional investors have recently bought and sold shares of the company. Manchester Capital Management LLC lifted its holdings in Rocket Companies by 0.5% during the 4th quarter. Manchester Capital Management LLC now owns 116,466 shares of the company’s stock worth $2,255,000 after purchasing an additional 618 shares in the last quarter. Red Door Wealth Management LLC lifted its holdings in shares of Rocket Companies by 6.7% in the first quarter. Red Door Wealth Management LLC now owns 11,138 shares of the company’s stock worth $159,000 after buying an additional 698 shares in the last quarter. Gould Capital LLC lifted its holdings in shares of Rocket Companies by 0.8% in the fourth quarter. Gould Capital LLC now owns 95,166 shares of the company’s stock worth $1,842,000 after buying an additional 733 shares in the last quarter. Valeo Financial Advisors LLC boosted its position in shares of Rocket Companies by 4.2% in the second quarter. Valeo Financial Advisors LLC now owns 20,473 shares of the company’s stock valued at $322,000 after acquiring an additional 823 shares during the period. Finally, Bridges Investment Management Inc. grew its stake in Rocket Companies by 8.5% during the fourth quarter. Bridges Investment Management Inc. now owns 11,045 shares of the company’s stock valued at $214,000 after acquiring an additional 869 shares in the last quarter. Institutional investors own 4.59% of the company’s stock.

About Rocket Companies

(Get Free Report)

Rocket Companies, Inc is a Detroit-based fintech platform that provides digital financial and real estate services primarily to consumers in the United States. Its operations are centered on helping customers obtain, manage and refinance home loans, while also offering related services across the homeownership and personal finance lifecycle.

The company’s principal businesses include Rocket Mortgage, a digital mortgage lender and originator; Rocket Homes, a real estate marketplace and agent-referral platform; Rocket Money, a personal finance application that helps users manage subscriptions, budgets and bills; and Rocket Loans, which provides personal loans.

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