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Is Rocket Companies Inc (RKT) a good stock to buy now?

Rocket Companies Inc (NYSE: RKT) is -9.05% lower on its value in year-to-date trading and has touched a low of $7.17 and a high of $15.19 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The RKT stock was last observed hovering at around $13.86 in the last trading session, with the day’s loss setting it -0.69%.

Currently trading at $13.17, the stock is 0.49% and 6.26% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.29 million and changing -4.98% at the moment leaves the stock 24.30% off its SMA200. RKT registered 49.83% gain for a year compared to 6-month gain of 61.00%.

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The stock witnessed a 2.33% loss in the last 1 month and extending the period to 3 months gives it a -9.05%, and is -6.06% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.50% over the week and 4.48% over the month.

Rocket Companies Inc (RKT) has around 14700 employees, a market worth around $1.80B and $3.58B in sales. Fwd P/E is 23.00. Profit margin for the company is -0.43%. Distance from 52-week low is 83.68% and -13.30% from its 52-week high. The company has generated returns on investments over the last 12 months (-0.18%).

Rocket Companies Inc quarterly earnings per share for the current quarter are estimated at $0.01 with sales reaching $1.03B over the same period.The EPS is expected to grow by 558.28% this year, but quarterly earnings will post 30.20% year-over-year. Quarterly sales are estimated to grow 54.60% in year-over-year returns.

Rocket Companies Inc (RKT) Top Institutional Holders

311 institutions hold shares in Rocket Companies Inc (RKT), with institutional investors hold 76.61% of the company’s shares. The shares outstanding are 135.81M, and float is at 119.45M with Short Float at 15.02%. Institutions hold 72.16% of the Float.

The top institutional shareholder in the company is FMR, LLC with over 11.42 million shares valued at $102.3 million. The investor’s holdings represent 8.89% of the RKT Shares outstanding. As of Jun 29, 2023, the second largest holder is Vanguard Group Inc with 10.72 million shares valued at $96.04 million to account for 8.35% of the shares outstanding. The other top investors are Invesco Ltd. which holds 5.13 million shares representing 4.00% and valued at over $45.99 million, while Blackrock Inc. holds 3.95% of the shares totaling 5.07 million with a market value of $45.43 million.

Rocket Companies Inc (RKT) Insider Activity

The most recent transaction is an insider purchase by Rizik Matthew,the company’sDirector. SEC filings show that Rizik Matthew bought 301 shares of the company’s common stock on Mar 28 ’24 at a price of $14.57 per share for a total of $4386.0. Following the purchase, the insider now owns 0.69 million shares.

Rocket Companies Inc disclosed in a document filed with the SEC on Mar 26 ’24 that Rizik Matthew (Director) bought a total of 312 shares of the company’s common stock. The trade occurred on Mar 26 ’24 and was made at $13.98 per share for $4362.0. Following the transaction, the insider now directly holds 0.69 million shares of the RKT stock.

Still, SEC filings show that on Mar 25 ’24, Rizik Matthew (Director) acquired 310 shares at an average price of $14.13 for $4380.0. The insider now directly holds 692,454 shares of Rocket Companies Inc (RKT).

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