Rush Street Interactive (NYSE:RSI) CFO Kyle Sauers Sells 23,000 Shares of Company Stock

Key Points

• Rush Street Interactive CFO Kyle Sauers sold 23,000 shares at an average price of $20.31, generating $467,130. The transaction was conducted under a pre-arranged Rule 10b5-1 plan, leaving him with 583,526 shares.
• RSI shares traded at $21.02, while the stock’s 50-day and 200-day moving averages stood at $25.11 and $26.28, respectively. The company recently reported $393.78 million in quarterly revenue, up 46.3% year over year, and matched earnings expectations at $0.15 per share.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $35.10, well above the reported trading price. Institutional investors and hedge funds collectively own 24.78% of the company.

Rush Street Interactive, Inc. (NYSE:RSI - Get Free Report) CFO Kyle Sauers sold 23,000 shares of Rush Street Interactive stock in a transaction dated 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 transaction, the chief financial officer directly owned 583,526 shares in the company, valued at $11,851,413.06. This represents a 3.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 stock was 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 transaction of $612,950.00.

Rush Street Interactive Price Performance

NYSE RSI traded up $1.01 during mid-day trading on Monday, hitting $21.02. The company's stock had a trading volume of 4,056,695 shares, compared to its average volume of 2,476,846. The firm has a market capitalization of $4.87 billion, a P/E ratio of 72.50 and a beta of 1.71. Rush Street Interactive, Inc. has a 52-week low of $15.51 and a 52-week high of $34.53. The stock's fifty day simple moving average is $25.11 and its two-hundred day simple moving average is $26.28.

Rush Street Interactive (NYSE:RSI - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.15 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.15. Rush Street Interactive had a net margin of 2.33% and a return on equity of 18.88%. The company had revenue of $393.78 million during the quarter, compared to the consensus estimate of $367.75 million. During the same period in the previous year, the firm earned $0.11 earnings per share. Rush Street Interactive's revenue for the quarter was up 46.3% on a year-over-year basis. On average, equities analysts forecast that Rush Street Interactive, Inc. will post 0.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RSI. Citigroup reaffirmed a "market outperform" rating on shares of Rush Street Interactive in a research report on Tuesday, September 22nd. Citizens Jmp reissued 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. JPMorgan Chase & Co. upped their price target on Rush Street Interactive from $26.00 to $30.00 and gave the stock a "neutral" rating in a report on Wednesday, July 15th. Oppenheimer increased their price objective on shares of Rush Street Interactive from $30.00 to $36.00 and gave the company an "outperform" rating in a research report on Friday, July 24th. Finally, Wall Street Zen upgraded shares of Rush Street Interactive from a "hold" rating to a "buy" rating in a research note on Sunday, September 13th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Rush Street Interactive presently has an average rating of "Moderate Buy" and a consensus price target of $35.10.

Hedge Funds Weigh In On Rush Street Interactive

A number of institutional investors have recently made changes to their positions in RSI. Tidal Investments LLC bought a new stake in shares of Rush Street Interactive in the 2nd quarter worth about $1,323,000. Integrated Wealth Concepts LLC bought a new position in shares of Rush Street Interactive during the second quarter worth about $70,000. Allworth Financial LP grew 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 purchasing an additional 529 shares in the last quarter. Arizona State Retirement System grew 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 purchasing an additional 3,081 shares in the last quarter. Finally, Corient Private Wealth LP increased its holdings in Rush Street Interactive by 14.7% in the second quarter. Corient Private Wealth LP now owns 75,364 shares of the company's stock valued at $2,241,000 after buying an additional 9,687 shares during the last quarter. 24.78% of the stock is owned by institutional investors and hedge funds.

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.

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