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Rocket Companies, Inc. (NYSE:RKT – Get Rating) saw unusually large options trading activity on Monday. Traders purchased 26,778 call options on the company. This represents an increase of approximately 129% compared to the average daily volume of 11,704 call options.Insider Transactions at Rocket Companies
In other news, CEO Jay Farner purchased 25,000 shares of the business’s stock in a transaction dated Thursday, December 15th. The stock was bought at an average price of $8.00 per share, with a total value of $200,000.00. Following the acquisition, the chief executive officer now owns 5,914,807 shares in the company, valued at approximately $47,318,456. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders purchased 669,700 shares of company stock worth $4,733,209. 94.01% of the stock is owned by insiders.
Hedge Funds Weigh In On Rocket Companies
Large investors have recently modified their holdings of the business. MQS Management LLC bought a new position in shares of Rocket Companies in the third quarter valued at approximately $108,000. Mercer Global Advisors Inc. ADV lifted its position in Rocket Companies by 60.9% during the third quarter. Mercer Global Advisors Inc. ADV now owns 390,017 shares of the company’s stock valued at $2,465,000 after purchasing an additional 147,682 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Rocket Companies by 57.4% during the third quarter. Price T Rowe Associates Inc. MD now owns 52,229 shares of the company’s stock valued at $331,000 after purchasing an additional 19,038 shares during the last quarter. Quadrature Capital Ltd bought a new stake in Rocket Companies during the third quarter valued at approximately $214,000. Finally, Quantamental Technologies LLC bought a new stake in Rocket Companies during the third quarter valued at approximately $64,000. Hedge funds and other institutional investors own 3.99% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on RKT. Morgan Stanley reduced their price objective on shares of Rocket Companies from $7.00 to $6.50 and set an “equal weight” rating on the stock in a research note on Friday, November 4th. The Goldman Sachs Group reduced their price objective on shares of Rocket Companies from $7.25 to $6.50 and set a “neutral” rating on the stock in a research note on Monday, November 7th. Credit Suisse Group lowered shares of Rocket Companies from a “neutral” rating to an “underperform” rating and set a $7.00 price objective on the stock. in a research note on Monday. Wells Fargo & Company upped their price objective on shares of Rocket Companies from $7.00 to $10.00 and gave the company an “overweight” rating in a research note on Tuesday, December 6th. Finally, Barclays upped their price objective on shares of Rocket Companies from $4.50 to $6.00 in a research note on Friday. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, Rocket Companies currently has an average rating of “Hold” and an average price target of $7.96.
Rocket Companies Stock Performance
NYSE RKT traded up $0.30 during trading hours on Monday, reaching $7.77. 48,397 shares of the company were exchanged, compared to its average volume of 1,740,609. Rocket Companies has a 1 year low of $5.97 and a 1 year high of $14.53. The business’s 50 day simple moving average is $7.55 and its 200-day simple moving average is $7.94. The company has a quick ratio of 11.69, a current ratio of 11.69 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $15.31 billion, a P/E ratio of 9.58 and a beta of 1.84.
Rocket Companies (NYSE:RKT – Get Rating) last posted its earnings results on Thursday, November 3rd. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Rocket Companies had a return on equity of 5.21% and a net margin of 1.41%. On average, equities research analysts expect that Rocket Companies will post -0.16 earnings per share for the current year.
About Rocket Companies
(Get Rating)
Rocket Companies, Inc, a fintech holding company, provides mortgage lending, title and settlement services, and other financial technology services 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.
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