Rush Street Interactive (NYSE:RSI) Stock Price Down 4.4% – Should You Sell?

Rush Street Interactive, Inc. (NYSE:RSI) shares dropped 4.4% on Monday. The stock traded as low as $17.92 and last traded at $17.7070. 142,035 shares changed hands during trading, a decline of 94% from the average session volume of 2,466,716 shares. The stock had previously closed at $18.52.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on RSI. Wall Street Zen downgraded Rush Street Interactive from a “buy” rating to a “hold” rating in a research note on Saturday. JPMorgan Chase & Co. upped their price objective on shares of Rush Street Interactive from $26.00 to $30.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Benchmark increased their price objective on shares of Rush Street Interactive from $30.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Susquehanna decreased their price objective on shares of Rush Street Interactive from $37.00 to $27.00 and set a “positive” rating on the stock in a report on Friday, October 9th. Finally, Stifel Nicolaus began coverage on shares of Rush Street Interactive in a research report on Monday, September 21st. They issued a “buy” rating and a $34.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $33.09.

Rush Street Interactive Stock Down 4.2%

The company has a 50-day moving average of $23.41 and a 200 day moving average of $26.16. The stock has a market capitalization of $4.11 billion, a PE ratio of 61.33 and a beta of 1.71.

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

Insider Buying and Selling

In related news, CEO Richard Schwartz sold 111,112 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $28.02, for a total transaction of $3,113,358.24. Following the completion of the sale, the chief executive officer owned 421,258 shares of the company’s stock, valued at approximately $11,803,649.16. This represents a 20.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Mattias Stetz sold 20,000 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $25.68, for a total transaction of $513,600.00. Following the completion of the sale, the chief operating officer owned 157,874 shares of the company’s stock, valued at approximately $4,054,204.32. The trade was a 11.24% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 603,998 shares of company stock worth $14,814,268. 52.89% of the stock is owned by insiders.

Institutional Trading of Rush Street Interactive

Several large investors have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC acquired a new position in Rush Street Interactive in the second quarter valued at about $35,000. CoreCap Advisors LLC purchased a new position in shares of Rush Street Interactive during the second quarter worth $54,000. Allworth Financial LP purchased a new position in shares of Rush Street Interactive during the second quarter worth $57,000. Integrated Wealth Concepts LLC purchased a new position in shares of Rush Street Interactive during the second quarter worth $70,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Rush Street Interactive in the second quarter valued at $98,000. 24.78% of the stock is currently owned by hedge funds and other institutional investors.

About Rush Street Interactive

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.