Insider Selling: Rush Street Interactive, Inc. (NYSE:RSI) COO Sells 30,000 Shares of Stock

Key Points

• Rush Street Interactive's COO, Mattias Stetz, sold 30,000 shares at an average price of $19.30, resulting in a total transaction value of $579,000.
• This sale represents a 9.34% decrease in Stetz's ownership, leaving him with approximately 291,051 shares valued at around $5.6 million.
• The company's quarterly earnings reported on July 30th revealed $0.11 EPS, surpassing analyst expectations, with a revenue of $269.22 million, which was also above consensus estimates.

Rush Street Interactive, Inc. (NYSE:RSI - Get Free Report) COO Mattias Stetz sold 30,000 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $19.30, for a total value of $579,000.00. Following the completion of the transaction, the chief operating officer owned 291,051 shares of the company's stock, valued at approximately $5,617,284.30. This represents a 9.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Thursday, July 3rd, Mattias Stetz sold 25,000 shares of Rush Street Interactive stock. The shares were sold at an average price of $15.00, for a total value of $375,000.00.
• On Tuesday, July 1st, Mattias Stetz sold 25,000 shares of Rush Street Interactive stock. The stock was sold at an average price of $14.81, for a total value of $370,250.00.
• On Monday, June 2nd, Mattias Stetz sold 25,000 shares of Rush Street Interactive stock. The shares were sold at an average price of $12.47, for a total value of $311,750.00.
• On Thursday, May 8th, Mattias Stetz sold 533 shares of Rush Street Interactive stock. The shares were sold at an average price of $12.01, for a total value of $6,401.33.

Rush Street Interactive Price Performance

Shares of NYSE:RSI traded down $0.81 during trading on Friday, reaching $19.35. 4,670,008 shares of the company were exchanged, compared to its average volume of 1,725,572. The firm has a market capitalization of $4.43 billion, a PE ratio of 106.11 and a beta of 1.89. The business's fifty day simple moving average is $14.25 and its 200-day simple moving average is $13.10. Rush Street Interactive, Inc. has a 12-month low of $8.52 and a 12-month high of $20.32.

Rush Street Interactive (NYSE:RSI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.08 by $0.03. The business had revenue of $269.22 million for the quarter, compared to the consensus estimate of $248.98 million. Rush Street Interactive had a return on equity of 17.77% and a net margin of 2.48%. The business's quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.04 earnings per share. On average, sell-side analysts anticipate that Rush Street Interactive, Inc. will post 0.04 EPS for the current fiscal year.

Analyst Ratings Changes

RSI has been the subject of a number of analyst reports. Oppenheimer raised their price target on Rush Street Interactive from $16.00 to $21.00 and gave the stock an "outperform" rating in a report on Thursday. Wall Street Zen upgraded Rush Street Interactive from a "buy" rating to a "strong-buy" rating in a research report on Friday, July 18th. Susquehanna reiterated a "positive" rating and issued a $19.00 price objective (up previously from $15.00) on shares of Rush Street Interactive in a research report on Wednesday. JPMorgan Chase & Co. started coverage on Rush Street Interactive in a research report on Monday, June 23rd. They issued a "neutral" rating and a $14.00 price objective on the stock. Finally, Jefferies Financial Group increased their price objective on Rush Street Interactive from $17.00 to $18.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.89.

Institutional Investors Weigh In On Rush Street Interactive

Hedge funds have recently modified their holdings of the company. Raymond James Financial Inc. acquired a new position in shares of Rush Street Interactive during the 4th quarter worth about $1,282,000. American Century Companies Inc. raised its holdings in Rush Street Interactive by 45.6% in the 4th quarter. American Century Companies Inc. now owns 147,747 shares of the company's stock valued at $2,027,000 after acquiring an additional 46,293 shares during the last quarter. Sei Investments Co. raised its holdings in Rush Street Interactive by 59.2% in the 4th quarter. Sei Investments Co. now owns 333,425 shares of the company's stock valued at $4,575,000 after acquiring an additional 124,045 shares during the last quarter. LPL Financial LLC acquired a new stake in Rush Street Interactive in the 4th quarter valued at about $173,000. Finally, Vanguard Group Inc. raised its holdings in Rush Street Interactive by 14.0% in the 4th quarter. Vanguard Group Inc. now owns 8,596,434 shares of the company's stock valued at $117,943,000 after acquiring an additional 1,056,583 shares during the last quarter. 24.78% of the stock is owned by hedge funds and other institutional investors.

Rush Street Interactive Company Profile

Rush Street Interactive, Inc operates as an online casino and sports betting company in the United States, Canada, Mexico, and rest of Latin America. It provides real-money online casino, online and retail sports betting, and social gaming services. In addition, the company offers full suite of games comprising of bricks-and-mortar casinos, table games, and slot machines.

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