Rush Street Interactive (NYSE:RSI) Stock: Insider Mattias Stetz Sells 20,000 Shares

Key Points

• COO Mattias Stetz sold 20,000 Rush Street Interactive shares at an average price of $19.87, generating $397,400. The transaction was made under a pre-arranged Rule 10b5-1 plan, leaving him with 137,874 shares.
• RSI shares rose 5.1% to $21.02 in midday trading, while the company reported quarterly revenue of $393.78 million, up 46.3% year over year and above analyst expectations.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $35.10, well above its recent trading price.

Rush Street Interactive, Inc. (NYSE:RSI - Get Free Report) COO Mattias Stetz sold 20,000 shares of the business's stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $19.87, for a total value of $397,400.00. Following the sale, the chief operating officer owned 137,874 shares in the company, valued at approximately $2,739,556.38. The trade was a 12.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Mattias Stetz also recently made the following trade(s):

• On Tuesday, September 1st, Mattias Stetz sold 20,000 shares of Rush Street Interactive stock. The shares were sold at an average price of $25.68, for a total value of $513,600.00.
• On Monday, August 3rd, Mattias Stetz sold 20,000 shares of Rush Street Interactive stock. The shares were sold at an average price of $28.03, for a total value of $560,600.00.

Rush Street Interactive Trading Up 5.1%

Shares of NYSE:RSI traded up $1.01 during midday trading on Monday, hitting $21.02. 4,056,695 shares of the stock were exchanged, compared to its average volume of 2,476,846. The stock has a market cap of $4.87 billion, a P/E ratio of 72.50 and a beta of 1.71. Rush Street Interactive, Inc. has a twelve month low of $15.51 and a twelve month high of $34.53. The company has a 50 day moving average price of $25.11 and a 200-day moving average price of $26.28.

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

Institutional Investors Weigh In On Rush Street Interactive

Hedge funds have recently modified their holdings of the company. Tidal Investments LLC purchased a new stake in shares of Rush Street Interactive during the second quarter worth about $1,323,000. Integrated Wealth Concepts LLC acquired a new position in shares of Rush Street Interactive in the second quarter valued at approximately $70,000. Allworth Financial LP boosted its stake in Rush Street Interactive by 38.1% in the 2nd quarter. Allworth Financial LP now owns 1,917 shares of the company's stock worth $57,000 after buying an additional 529 shares during the last quarter. Arizona State Retirement System grew its holdings in Rush Street Interactive by 11.4% in the 2nd quarter. Arizona State Retirement System now owns 30,002 shares of the company's stock valued at $892,000 after buying an additional 3,081 shares during the period. Finally, Corient Private Wealth LP grew its holdings in Rush Street Interactive by 14.7% in the 2nd 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 period. 24.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Weiss Ratings lowered shares of Rush Street Interactive from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, September 28th. JPMorgan Chase & Co. lifted their price objective on Rush Street Interactive from $26.00 to $30.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 15th. Wall Street Zen raised Rush Street Interactive from a "hold" rating to a "buy" rating in a research note on Sunday, September 13th. Oppenheimer increased their target price on Rush Street Interactive from $30.00 to $36.00 and gave the company an "outperform" rating in a report on Friday, July 24th. Finally, Citigroup reissued a "market outperform" rating on shares of Rush Street Interactive in a research report on Tuesday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $35.10.

About Rush Street Interactive

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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