Rocket Companies, Inc. $RKT Shares Newly Acquired by Vise Technologies Inc.

Key Points

• Vise Technologies acquired a new 66,234-share stake in Rocket Companies during the third quarter, valued at approximately $762,000. Institutional investors and hedge funds own 4.59% of the stock.
• CEO Jesse Bray sold 225,000 shares for about $3.1 million under a pre-arranged trading plan; insiders sold 675,000 shares worth about $8.8 million over the past three months.
• Rocket reported quarterly EPS of $0.15, beating estimates by $0.01, while revenue of $2.57 billion came in slightly below expectations but rose 37.4% year over year. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $18.75.

Vise Technologies Inc. acquired a new stake in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 66,234 shares of the company's stock, valued at approximately $762,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Rocket Companies in the first quarter valued at $34,000. IFP Advisors Inc bought a new position in shares of Rocket Companies during the 3rd quarter valued at about $53,000. Hilltop National Bank raised its holdings in shares of Rocket Companies by 44,581.8% in the 2nd quarter. Hilltop National Bank now owns 4,915 shares of the company's stock worth $77,000 after purchasing an additional 4,904 shares in the last quarter. Mather Group LLC. lifted its stake in Rocket Companies by 102.6% during the third quarter. Mather Group LLC. now owns 5,222 shares of the company's stock valued at $60,000 after purchasing an additional 2,645 shares during the last quarter. Finally, Centaurus Financial Inc. bought a new stake in Rocket Companies during the first quarter worth approximately $101,000. 4.59% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Rocket Companies news, CEO Jesse Bray sold 225,000 shares of the stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $13.75, for a total transaction of $3,093,750.00. Following the transaction, the chief executive officer owned 7,503,027 shares in the company, valued at $103,166,621.25. This trade represents a 2.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 675,000 shares of company stock valued at $8,780,824. 57.68% of the stock is currently owned by insiders.

Rocket Companies Stock Up 1.0%

RKT opened at $15.21 on Tuesday. Rocket Companies, Inc. has a fifty-two week low of $10.18 and a fifty-two week high of $24.36. The business has a 50-day moving average of $12.44 and a 200-day moving average of $14.52. The company has a debt-to-equity ratio of 1.02, a current ratio of 3.77 and a quick ratio of 4.85. The company has a market capitalization of $43.08 billion, a PE ratio of 33.81, a price-to-earnings-growth ratio of 4.54 and a beta of 2.27.

Rocket Companies (NYSE:RKT - Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The company reported $0.15 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.01. The firm had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.58 billion. Rocket Companies had a return on equity of 5.33% and a net margin of 11.14%. The firm's revenue was up 37.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.07 earnings per share. Equities research analysts forecast that Rocket Companies, Inc. will post 0.47 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Stephens decreased their target price on Rocket Companies from $22.50 to $20.00 and set an "overweight" rating on the stock in a report on Friday, August 7th. Weiss Ratings upgraded Rocket Companies from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, October 8th. Royal Bank Of Canada decreased their target price on shares of Rocket Companies from $16.00 to $14.00 and set a "sector perform" rating for the company in a report on Friday, October 30th. Morgan Stanley set a $16.00 price objective on shares of Rocket Companies and gave the stock an "overweight" rating in a research note on Monday, October 12th. Finally, Benchmark cut their target price on shares of Rocket Companies from $21.00 to $19.00 and set a "buy" rating on the stock in a research note on Friday, August 7th. Eight investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $18.75.

Rocket Companies Company Profile

Rocket Companies is a Detroit-based financial technology company whose businesses help consumers navigate homeownership and personal finance. Its services include mortgage lending and refinancing, online real estate search, title and closing services, and personal loans.

Its flagship business, Rocket Mortgage, offers a digital mortgage application and lending process. Other brands include Rocket Homes, which connects homebuyers with real estate services, and Amrock, which provides title, settlement, and valuation services.

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