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

Key Points

• CFO Kyle Sauers sold 23,000 Rush Street Interactive shares at an average $12 each, totaling $276,000, under a pre-arranged Rule 10b5-1 plan. He retained 555,417 shares after the sale.
• RSI shares fell 3.9% to $11.87 in Thursday trading, near their 52-week low of $11.39; the stock was also well below its 50-day and 200-day moving averages.
• The company’s latest quarterly EPS of $0.15 beat estimates, while revenue of $385.85 million missed slightly and rose 38.8% year over year. Analysts held a “Moderate Buy” consensus rating with an average $26.46 price target.

Rush Street Interactive, Inc. (NYSE:RSI - Get Free Report) CFO Kyle Sauers sold 23,000 shares of the firm's stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $12.00, for a total transaction of $276,000.00. Following the transaction, the chief financial officer owned 555,417 shares of the company's stock, valued at $6,665,004. This trade represents a 3.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, October 5th, Kyle Sauers sold 23,000 shares of Rush Street Interactive stock. The stock was sold at an average price of $20.31, for a total value of $467,130.00.
• 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.

Rush Street Interactive Trading Down 3.9%

Shares of NYSE:RSI traded down $0.48 on Thursday, hitting $11.87. The company had a trading volume of 5,374,257 shares, compared to its average volume of 2,719,369. Rush Street Interactive, Inc. has a 52-week low of $11.39 and a 52-week high of $34.53. The business has a 50 day moving average of $20.68 and a 200 day moving average of $23.63. The company has a market cap of $2.75 billion, a PE ratio of 35.96 and a beta of 1.80.

Rush Street Interactive (NYSE:RSI - Get Free Report) last issued its quarterly earnings results on Wednesday, October 28th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.02. The company had revenue of $385.85 million during the quarter, compared to the consensus estimate of $388.05 million. Rush Street Interactive had a return on equity of 24.46% and a net margin of 2.56%. Rush Street Interactive's revenue was up 38.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.09 EPS. As a group, equities analysts predict that Rush Street Interactive, Inc. will post 0.49 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on RSI. Morgan Stanley began coverage on Rush Street Interactive in a report on Monday, October 19th. They set an "equal weight" rating and a $22.00 price objective on the stock. Oppenheimer reduced their target price on Rush Street Interactive from $36.00 to $25.00 and set an "outperform" rating for the company in a research note on Thursday, October 29th. Wells Fargo & Company dropped their price target on shares of Rush Street Interactive from $36.00 to $26.00 and set an "overweight" rating for the company in a research note on Thursday, October 29th. Stifel Nicolaus dropped their price target on shares of Rush Street Interactive from $34.00 to $30.00 and set a "buy" rating for the company in a research note on Monday, October 26th. Finally, Needham & Company LLC cut their price target on shares of Rush Street Interactive from $36.00 to $25.00 and set a "buy" rating on the stock in a report on Thursday, October 29th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $26.46.

Hedge Funds Weigh In On Rush Street Interactive

Hedge funds and other institutional investors have recently made changes to their positions in the business. GSA Capital Partners LLP acquired a new position in Rush Street Interactive during the 2nd quarter valued at about $1,996,000. Quantinno Capital Management LP acquired a new stake in shares of Rush Street Interactive in the 1st quarter worth approximately $1,769,000. BlackRock Inc. acquired a new stake in shares of Rush Street Interactive in the 2nd quarter worth approximately $448,435,000. Bank of America Corp DE bought a new position in shares of Rush Street Interactive in the second quarter valued at approximately $34,015,000. Finally, Tidal Investments LLC bought a new position in shares of Rush Street Interactive in the second quarter valued at approximately $1,323,000. 24.78% of the stock is currently 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 primary consumer brands include BetRivers, PlaySugarHouse and RushBet, offering online casino games, sports wagering and related digital gaming products through websites and mobile applications.

The company serves customers in regulated markets across the United States and Latin America, with operations also extending to select international jurisdictions.

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