Rush Street Interactive (NYSE:RSI) Stock: Insider Thomas Winter Purchases 10,000 Shares

Key Points

• Director Thomas Winter bought 10,000 RSI shares at an average price of $11.83, investing $118,300 and increasing his position by 48.79% to 30,497 shares.
• RSI shares fell 5.8% to $11.41, near the stock’s 12-month low of $11.39, while trading volume significantly exceeded its average.
• The company exceeded quarterly EPS expectations and posted 38.8% year-over-year revenue growth, but analysts recently lowered price targets; the consensus rating remains “Moderate Buy” with a $26.46 target.

Rush Street Interactive, Inc. (NYSE:RSI - Get Free Report) Director Thomas Winter purchased 10,000 shares of the stock in a transaction dated Monday, November 2nd. The stock was purchased at an average cost of $11.83 per share, for a total transaction of $118,300.00. Following the completion of the acquisition, the director owned 30,497 shares of the company's stock, valued at approximately $360,779.51. This represents a 48.79% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Rush Street Interactive Trading Down 5.8%

Shares of RSI stock traded down $0.70 during trading hours on Monday, reaching $11.41. The stock had a trading volume of 11,501,912 shares, compared to its average volume of 2,655,402. The stock's fifty day simple moving average is $21.52 and its 200 day simple moving average is $23.74. The firm has a market capitalization of $2.65 billion, a PE ratio of 34.59 and a beta of 1.81. Rush Street Interactive, Inc. has a 12 month low of $11.39 and a 12 month high of $34.53.

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

Analyst Ratings Changes

RSI has been the subject of a number of recent analyst reports. Susquehanna reduced their price target on shares of Rush Street Interactive from $37.00 to $27.00 and set a "positive" rating for the company in a research report on Friday, October 9th. Craig Hallum downgraded Rush Street Interactive from a "buy" rating to a "hold" rating and set a $15.00 price objective on the stock. in a research report on Monday. Weiss Ratings raised Rush Street Interactive from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, October 21st. Citizens Jmp reduced their target price on Rush Street Interactive from $34.00 to $24.00 and set a "market outperform" rating for the company in a research report on Thursday. Finally, Oppenheimer decreased their target price on Rush Street Interactive from $36.00 to $25.00 and set an "outperform" rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $26.46.

Hedge Funds Weigh In On Rush Street Interactive

A number of hedge funds and other institutional investors have recently bought and sold shares of RSI. BlackRock Inc. bought a new stake in Rush Street Interactive in the 2nd quarter worth approximately $448,435,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Rush Street Interactive by 84.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,764,173 shares of the company's stock worth $60,121,000 after acquiring an additional 1,267,622 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Rush Street Interactive by 15.9% during the first quarter. Renaissance Technologies LLC now owns 2,285,000 shares of the company's stock worth $49,699,000 after acquiring an additional 312,700 shares in the last quarter. William Blair Investment Management LLC purchased a new position in shares of Rush Street Interactive during the second quarter worth approximately $48,647,000. Finally, Bank of America Corp DE bought a new stake in shares of Rush Street Interactive in the 2nd quarter worth approximately $34,015,000. Hedge funds and other institutional investors own 24.78% of the company's stock.

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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