Insider Selling: Rush Street Interactive (NYSE:RSI) CFO Sells $467,130.00 in Stock

Rush Street Interactive, Inc. (NYSE:RSI) CFO Kyle Sauers sold 23,000 shares of the business’s stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $20.31, for a total value of $467,130.00. Following the completion of the sale, the chief financial officer owned 583,526 shares of the company’s stock, valued at $11,851,413.06. This trade represents a 3.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kyle Sauers also recently made the following trade(s):

• On Thursday, September 3rd, Kyle Sauers sold 23,000 shares of Rush Street Interactive stock. The shares were sold at an average price of $26.56, for a total value of $610,880.00.
• On Monday, August 3rd, Kyle Sauers sold 23,000 shares of Rush Street Interactive stock. The stock was sold at an average price of $26.65, for a total value of $612,950.00.

Rush Street Interactive Price Performance

RSI traded up $1.01 during trading hours on Monday, hitting $21.02. 4,056,695 shares of the stock were exchanged, compared to its average volume of 2,476,846. The stock has a market cap of $4.87 billion, a price-to-earnings ratio of 72.50 and a beta of 1.71. The stock has a 50-day simple moving average of $25.11 and a 200-day simple moving average of $26.28. Rush Street Interactive, Inc. has a 12 month low of $15.51 and a 12 month high of $34.53.

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on RSI shares. Weiss Ratings lowered shares of Rush Street Interactive from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, September 28th. New Street Research set a $35.00 target price on Rush Street Interactive in a research note on Thursday, July 23rd. Susquehanna upped their target price on Rush Street Interactive from $30.00 to $36.00 and gave the company a “positive” rating in a report on Wednesday, July 29th. Citizens Jmp reiterated a “market outperform” rating and set a $34.00 price target on shares of Rush Street Interactive in a research report on Tuesday, September 22nd. Finally, Oppenheimer raised their price target on Rush Street Interactive from $30.00 to $36.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $35.10.

Institutional Trading of Rush Street Interactive

Several hedge funds have recently bought and sold shares of RSI. Global Retirement Partners LLC acquired a new position in Rush Street Interactive during the 2nd quarter valued at about $35,000. CoreCap Advisors LLC acquired a new stake in shares of Rush Street Interactive in the second quarter valued at approximately $54,000. Allworth Financial LP acquired a new stake in shares of Rush Street Interactive in the second quarter valued at approximately $57,000. Integrated Wealth Concepts LLC bought a new stake in shares of Rush Street Interactive during the second quarter valued at approximately $70,000. Finally, Quantbot Technologies LP bought a new stake in shares of Rush Street Interactive during the second quarter valued at approximately $98,000. 24.78% of the stock is currently owned by institutional investors.

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.