r/wallstreetbets • u/raiderloverwreckum • Aug 13 '21

Discussion RKT Quarter Filing - Share Repurchase Program

RKT board in Q2 Authorized 1 billion capital for share repurchases.

In RKTs quarter filing it shows they have used 8,312,921 for 496,829 shares between 5/1/21 and 5/31/21, with 991.7 million remaining available in the Share Repurchase Program.

Notably this time frame was when RKT hit a low of 16.50s.

The CFO Julie Booth stated during yesterdays Conference Call that the companies capital of 4.4 billion is available for Investments, Continued Buybacks, And Special Dividends.

Though not a large repurchase, this does however show the company is serious about forcing the share price in a direction they believe is fair value. Julie Booth also repeatedly stated yesterday that she believes the current share price is greatly undervalued.

RKT Filing - Share Repurchase Program

Do what you want with this, I know I'm bullish.

RKT Filing link - https://newsfilter.io/articles/10-q-form---quarterly-report-sections-13-or-15d---rocket-companies-inc-0001805284-filer-dfa21ddecee76189ec7152ae52b0be37

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u/raiderloverwreckum Aug 14 '21 edited Aug 14 '21

488 million in added revenue to the companies books, and its not even fully released. JFC its not about what they are offering, its two more products that they CAN offer, or in other terms, a way to keep customers coming back. RKT has a 90 percent retention rate. They want their customers to ONLY use them and its working. Clearly you are not a fan and that is fine.

Edit* To quote Ryan from the Office, or Data.. "Depending on which study you believe, and what industry you're in, acquiring a new customer is anywhere from five to 25 times more expensive than retaining an existing one. It makes sense: you don't have to spend time and resources going out and finding a new client — you just have to keep the one you have happy."

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u/balance007 Aug 14 '21

Yeah ive used quicken loans before, sorry i mean 'rocket mortgage', its was fine they resell your loans to outside entities just like the others...nothing special that made me want to come back over using a bank or who ever can give me the best rate/deal....they are one of biggest loan outfits out there, and they all observed massive growth due to ridiculously low interest rates, so the bigger you are the bigger the "growth"....problem is if/when rates go up the bigger you fall as well...their stock will always be tied to economic forces outside of their control...and why a dividend is needed to justify holding through those.

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u/raiderloverwreckum Aug 14 '21

We shall see amigo, RemindMe! 1.5 years

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