Rush Street Interactive (NYSE:RSI) Director Jack Markell Buys 1,500 Shares of Stock

Key Points

• Director Jack Markell purchased 1,500 Rush Street Interactive shares at an average price of $19.35, investing $29,025 and increasing his direct stake by 8.63% to 18,883 shares.
• RSI reported quarterly revenue of $393.78 million, up 46.3% year over year and above analyst expectations, while earnings of $0.15 per share matched estimates.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $35.10, despite shares trading near $19.88 and well below their 12-month high of $34.53.

Rush Street Interactive, Inc. (NYSE:RSI - Get Free Report) Director Jack Markell bought 1,500 shares of the stock in a transaction on Friday, September 25th. The stock was purchased at an average cost of $19.35 per share, with a total value of $29,025.00. Following the purchase, the director directly owned 18,883 shares of the company's stock, valued at approximately $365,386.05. This represents a 8.63% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.

Rush Street Interactive Price Performance

Shares of NYSE RSI traded up $0.34 during midday trading on Friday, reaching $19.88. 2,876,359 shares of the stock were exchanged, compared to its average volume of 2,450,186. The business has a 50-day simple moving average of $26.61 and a two-hundred day simple moving average of $26.31. The company has a market capitalization of $4.61 billion, a price-to-earnings ratio of 68.54 and a beta of 1.51. 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 - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.15 EPS for the quarter, meeting analysts' consensus estimates of $0.15. The business had revenue of $393.78 million during the quarter, compared to analysts' expectations 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 quarterly revenue was up 46.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.11 EPS. Equities research analysts expect that Rush Street Interactive, Inc. will post 0.49 earnings per share for the current fiscal year.

Analyst Ratings Changes

RSI has been the subject of several recent analyst reports. Susquehanna increased their price target on Rush Street Interactive from $30.00 to $36.00 and gave the stock a "positive" rating in a report on Wednesday, July 29th. Needham & Company LLC lifted their price objective on Rush Street Interactive from $33.00 to $36.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Stifel Nicolaus initiated coverage on Rush Street Interactive in a research report on Monday. They issued a "buy" rating and a $34.00 price objective for the company. Wells Fargo & Company increased their target price on Rush Street Interactive from $35.00 to $36.00 and gave the stock an "overweight" rating in a research note on Thursday, July 30th. Finally, New Street Research set a $35.00 target price on shares of Rush Street Interactive in a report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Rush Street Interactive has an average rating of "Moderate Buy" and a consensus target price of $35.10.

Hedge Funds Weigh In On Rush Street Interactive

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tidal Investments LLC acquired a new stake in Rush Street Interactive in the 2nd quarter valued at approximately $1,323,000. Integrated Wealth Concepts LLC bought a new stake in Rush Street Interactive in the 2nd quarter valued at approximately $70,000. Allworth Financial LP boosted its position in Rush Street Interactive by 38.1% during the 2nd quarter. Allworth Financial LP now owns 1,917 shares of the company's stock worth $57,000 after acquiring an additional 529 shares during the last quarter. Arizona State Retirement System boosted its position in Rush Street Interactive by 11.4% during the 2nd quarter. Arizona State Retirement System now owns 30,002 shares of the company's stock worth $892,000 after acquiring an additional 3,081 shares during the last quarter. Finally, Corient Private Wealth LP grew its stake in shares of Rush Street Interactive by 14.7% during the 2nd quarter. Corient Private Wealth LP now owns 75,364 shares of the company's stock worth $2,241,000 after acquiring an additional 9,687 shares in the last quarter. 24.78% of the stock is owned by institutional investors and hedge funds.

About Rush Street Interactive

Rush Street Interactive, Inc NYSE: RSI is an online gaming and sports betting company that operates digital casino, sportsbook and related gaming platforms. Its consumer-facing brands include BetRivers and PlaySugarHouse, which offer mobile and online wagering products such as sports betting, internet casino games and, in certain markets, online poker.

The company operates primarily in regulated markets across the United States and Canada, as well as select Latin American jurisdictions.

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