51,228 Shares in Rush Street Interactive, Inc. (NYSE:RSI) Purchased by Westover Capital Advisors LLC

Key Points

• Westover Capital Advisors LLC purchased 51,228 shares of Rush Street Interactive, valued at approximately $549,000, during the first quarter, indicating increased institutional interest in the stock.
• Rush Street Interactive reported earnings of $0.09 per share for the last quarter, surpassing analysts' expectations and achieving a 20.7% year-over-year revenue growth.
• Insider sales were notable, with COO Mattias Stetz and CEO Richard Todd Schwartz selling a combined total of approximately $3.36 million in shares recently, which reflects significant trading activity from company executives.

Westover Capital Advisors LLC acquired a new position in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 51,228 shares of the company's stock, valued at approximately $549,000.

Several other institutional investors also recently bought and sold shares of the company. Heck Capital Advisors LLC acquired a new position in shares of Rush Street Interactive during the 4th quarter worth approximately $34,000. GAMMA Investing LLC boosted its holdings in shares of Rush Street Interactive by 1,687.6% during the 1st quarter. GAMMA Investing LLC now owns 6,507 shares of the company's stock worth $70,000 after purchasing an additional 6,143 shares during the last quarter. WealthTrak Capital Management LLC acquired a new position in shares of Rush Street Interactive during the 4th quarter worth approximately $71,000. Lazard Asset Management LLC acquired a new position in shares of Rush Street Interactive during the 4th quarter worth approximately $95,000. Finally, NewEdge Advisors LLC acquired a new position in shares of Rush Street Interactive during the 4th quarter worth approximately $148,000. 24.78% of the stock is currently owned by institutional investors and hedge funds.

Rush Street Interactive Trading Down 0.6%

Rush Street Interactive stock opened at $14.71 on Friday. Rush Street Interactive, Inc. has a twelve month low of $8.52 and a twelve month high of $16.78. The stock's fifty day simple moving average is $13.81 and its 200-day simple moving average is $13.03. The firm has a market capitalization of $3.37 billion, a P/E ratio of 183.91 and a beta of 1.87.

Rush Street Interactive (NYSE:RSI - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.09 earnings per share for the quarter, topping analysts' consensus estimates of $0.08 by $0.01. Rush Street Interactive had a return on equity of 7.35% and a net margin of 0.87%. The business had revenue of $262.41 million for the quarter, compared to analyst estimates of $258.90 million. During the same quarter in the prior year, the company earned $0.03 earnings per share. The company's revenue was up 20.7% on a year-over-year basis. Sell-side analysts predict that Rush Street Interactive, Inc. will post 0.04 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Mattias Stetz sold 25,000 shares of the business's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $15.00, for a total transaction of $375,000.00. Following the completion of the transaction, the chief operating officer owned 321,051 shares in the company, valued at approximately $4,815,765. The trade was a 7.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Richard Todd Schwartz sold 193,905 shares of the business's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $15.39, for a total transaction of $2,984,197.95. Following the transaction, the chief executive officer owned 1,017,471 shares of the company's stock, valued at approximately $15,658,878.69. The trade was a 16.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,143,043 shares of company stock worth $30,043,702 over the last ninety days. Insiders own 56.94% of the company's stock.

Wall Street Analyst Weigh In

RSI has been the topic of several analyst reports. Wall Street Zen raised shares of Rush Street Interactive from a "buy" rating to a "strong-buy" rating in a research report on Friday, July 18th. Susquehanna lifted their price target on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company a "positive" rating in a research report on Thursday, May 1st. Needham & Company LLC reaffirmed a "buy" rating and set a $17.00 price target on shares of Rush Street Interactive in a research report on Thursday, May 1st. Jefferies Financial Group lifted their price target on shares of Rush Street Interactive from $17.00 to $18.00 and gave the company a "buy" rating in a research report on Thursday, July 3rd. Finally, Benchmark lifted their price target on shares of Rush Street Interactive from $14.00 to $17.00 and gave the company a "buy" rating in a research report on Tuesday, July 1st. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $15.89.

Rush Street Interactive Profile

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.

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