Einar Roosileht Sells 70,000 Shares of Rush Street Interactive, Inc. (NYSE:RSI) Stock

Key Points

• Einar Roosileht sold 70,000 shares of Rush Street Interactive at an average price of $18.95, totaling $1,326,500, which represents a 7.40% decrease in his ownership.
• Rush Street Interactive's recent quarterly earnings topped expectations with $0.11 earnings per share and revenue of $269.22 million, up 22.2% year-over-year.
• Several Wall Street analysts have recently adjusted their ratings, with prices ranging from $14.00 to $21.00, indicating a consensus rating of "Moderate Buy" for the stock.

Rush Street Interactive, Inc. (NYSE:RSI - Get Free Report) insider Einar Roosileht sold 70,000 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $18.95, for a total value of $1,326,500.00. Following the completion of the transaction, the insider directly owned 876,150 shares in the company, valued at $16,603,042.50. This trade represents a 7.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Einar Roosileht also recently made the following trade(s):

• On Tuesday, July 1st, Einar Roosileht sold 70,000 shares of Rush Street Interactive stock. The shares were sold at an average price of $14.77, for a total value of $1,033,900.00.
• On Monday, June 2nd, Einar Roosileht sold 70,000 shares of Rush Street Interactive stock. The stock was sold at an average price of $12.47, for a total value of $872,900.00.

Rush Street Interactive Trading Down 3.5%

NYSE:RSI traded down $0.68 during mid-day trading on Tuesday, hitting $19.03. The company's stock had a trading volume of 469,054 shares, compared to its average volume of 1,728,591. Rush Street Interactive, Inc. has a fifty-two week low of $8.76 and a fifty-two week high of $20.32. The company has a market capitalization of $4.36 billion, a price-to-earnings ratio of 95.13 and a beta of 1.90. The stock has a fifty day moving average of $14.55 and a 200-day moving average of $13.14.

Rush Street Interactive (NYSE:RSI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.03. The company had revenue of $269.22 million during the quarter, compared to analyst estimates of $248.98 million. Rush Street Interactive had a net margin of 2.48% and a return on equity of 16.53%. The company's revenue was up 22.2% on a year-over-year basis. During the same quarter last year, the business posted $0.04 earnings per share. On average, equities analysts anticipate that Rush Street Interactive, Inc. will post 0.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RSI. Oppenheimer boosted their price objective on Rush Street Interactive from $16.00 to $21.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Needham & Company LLC increased their price objective on Rush Street Interactive from $17.00 to $21.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. JPMorgan Chase & Co. initiated coverage on shares of Rush Street Interactive in a research note on Monday, June 23rd. They set a "neutral" rating and a $14.00 target price on the stock. Benchmark upped their price target on shares of Rush Street Interactive from $17.00 to $20.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Finally, Jefferies Financial Group upped their price objective on shares of Rush Street Interactive from $17.00 to $18.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Rush Street Interactive currently has a consensus rating of "Moderate Buy" and an average price target of $17.89.

Institutional Trading of Rush Street Interactive

Hedge funds and other institutional investors have recently modified their holdings of the stock. Pacer Advisors Inc. boosted its stake in Rush Street Interactive by 94.7% in the first quarter. Pacer Advisors Inc. now owns 2,533 shares of the company's stock valued at $27,000 after acquiring an additional 1,232 shares during the last quarter. Summit Securities Group LLC bought a new position in shares of Rush Street Interactive during the first quarter worth $33,000. Heck Capital Advisors LLC bought a new position in shares of Rush Street Interactive during the fourth quarter worth $34,000. Farther Finance Advisors LLC bought a new position in shares of Rush Street Interactive during the second quarter worth $42,000. Finally, GAMMA Investing LLC boosted its position in shares of Rush Street Interactive by 1,687.6% during the first quarter. GAMMA Investing LLC now owns 6,507 shares of the company's stock worth $70,000 after purchasing an additional 6,143 shares in the last quarter. Institutional investors and hedge funds own 24.78% of the company's stock.

About Rush Street Interactive

Rush Street Interactive, Inc operates as an online casino and sports betting company in the United States, Canada, Mexico, and rest of Latin America. It provides real-money online casino, online and retail sports betting, and social gaming services. In addition, the company offers full suite of games comprising of bricks-and-mortar casinos, table games, and slot machines.