Insider Selling: Rush Street Interactive (NYSE:RSI) COO Sells $397,400.00 in Stock

Rush Street Interactive, Inc. (NYSE:RSI) COO Mattias Stetz sold 20,000 shares of the firm’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $19.87, for a total value of $397,400.00. Following the sale, the chief operating officer directly owned 137,874 shares of the company’s stock, valued at $2,739,556.38. The trade was a 12.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Mattias Stetz also recently made the following trade(s):

• On Tuesday, September 1st, Mattias Stetz sold 20,000 shares of Rush Street Interactive stock. The shares were sold at an average price of $25.68, for a total transaction of $513,600.00.
• On Monday, August 3rd, Mattias Stetz sold 20,000 shares of Rush Street Interactive stock. The stock was sold at an average price of $28.03, for a total transaction of $560,600.00.

Rush Street Interactive Price Performance

Shares of RSI opened at $20.26 on Thursday. Rush Street Interactive, Inc. has a 1-year low of $15.51 and a 1-year high of $34.53. The stock has a market cap of $4.69 billion, a PE ratio of 69.85 and a beta of 1.71. The firm has a 50-day simple moving average of $24.48 and a two-hundred day simple moving average of $26.28.

Rush Street Interactive (NYSE:RSI) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.15 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.15. Rush Street Interactive had a net margin of 2.33% and a return on equity of 18.88%. The business had revenue of $393.78 million for the quarter, compared to the consensus estimate of $367.75 million. During the same period in the previous year, the firm earned $0.11 EPS. The business’s revenue was up 46.3% on a year-over-year basis. As a group, sell-side analysts expect that Rush Street Interactive, Inc. will post 0.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rush Street Interactive

Several hedge funds and other institutional investors have recently made changes to their positions in RSI. Tidal Investments LLC acquired a new position in shares of Rush Street Interactive during the second quarter worth about $1,323,000. Integrated Wealth Concepts LLC acquired a new stake in Rush Street Interactive in the second quarter valued at approximately $70,000. Allworth Financial LP lifted its stake in Rush Street Interactive by 38.1% in the second quarter. Allworth Financial LP now owns 1,917 shares of the company’s stock worth $57,000 after acquiring an additional 529 shares during the last quarter. Arizona State Retirement System lifted its stake in Rush Street Interactive by 11.4% in the second quarter. Arizona State Retirement System now owns 30,002 shares of the company’s stock worth $892,000 after acquiring an additional 3,081 shares during the last quarter. Finally, Corient Private Wealth LP grew its holdings in Rush Street Interactive by 14.7% during the 2nd quarter. Corient Private Wealth LP now owns 75,364 shares of the company’s stock worth $2,241,000 after acquiring an additional 9,687 shares in the last quarter. Hedge funds and other institutional investors own 24.78% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on RSI. JPMorgan Chase & Co. boosted their target price on Rush Street Interactive from $26.00 to $30.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Benchmark raised their price target on Rush Street Interactive from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Wells Fargo & Company lifted their price objective on Rush Street Interactive from $35.00 to $36.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Susquehanna boosted their price objective on Rush Street Interactive from $30.00 to $36.00 and gave the company a “positive” rating in a report on Wednesday, July 29th. Finally, New Street Research set a $35.00 target price on Rush Street Interactive in a research note on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Rush Street Interactive presently has an average rating of “Moderate Buy” and an average target price of $35.10.

Rush Street Interactive Company Profile

Rush Street Interactive, Inc is an online gaming and sports betting company that operates regulated internet casino and sportsbook platforms. Its consumer-facing brands include BetRivers and PlaySugarHouse, which offer online casino games, sports wagering, and related digital gaming services where permitted by local regulations.

The company serves customers in multiple regulated markets across the United States and Latin America. Its operations have included online sports betting and casino gaming in U.S.