Insider Selling: Rush Street Interactive, Inc. (NYSE:RSI) Director Sells 100,000 Shares of Stock

Key Points

• Judith Gold, a director of Rush Street Interactive, sold 100,000 shares for a total of $1,961,000, marking a decrease in ownership by 47.25%.
• The company's stock is currently trading at $19.13, with a 1-year high of $20.32 and a 1-year low of $8.76.
• Rush Street Interactive reported $269.22 million in revenue for the last quarter, surpassing analyst expectations, and had earnings per share (EPS) of $0.11, beating estimates by $0.03.

Rush Street Interactive, Inc. (NYSE:RSI - Get Free Report) Director Judith Gold sold 100,000 shares of the company's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $19.61, for a total transaction of $1,961,000.00. Following the sale, the director directly owned 111,629 shares of the company's stock, valued at approximately $2,189,044.69. This represents a 47.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Rush Street Interactive Stock Performance

Shares of RSI stock traded down $0.58 during mid-day trading on Tuesday, reaching $19.13. The company's stock had a trading volume of 1,423,387 shares, compared to its average volume of 1,735,253. Rush Street Interactive, Inc. has a 1-year low of $8.76 and a 1-year high of $20.32. The company has a market cap of $4.38 billion, a P/E ratio of 95.65 and a beta of 1.90. The firm's 50-day moving average is $14.55 and its two-hundred day moving average is $13.14.

Rush Street Interactive (NYSE:RSI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.08 by $0.03. Rush Street Interactive had a net margin of 2.48% and a return on equity of 16.53%. The company had revenue of $269.22 million during the quarter, compared to analysts' expectations of $248.98 million. During the same quarter in the prior year, the company posted $0.04 EPS. The business's revenue was up 22.2% on a year-over-year basis. Sell-side analysts anticipate that Rush Street Interactive, Inc. will post 0.04 EPS for the current year.

Institutional Investors Weigh In On Rush Street Interactive

A number of hedge funds have recently made changes to their positions in the company. Alliancebernstein L.P. grew its holdings in Rush Street Interactive by 1,617.7% during the 1st quarter. Alliancebernstein L.P. now owns 6,133,759 shares of the company's stock worth $65,754,000 after acquiring an additional 5,776,660 shares during the last quarter. Nuveen LLC bought a new stake in shares of Rush Street Interactive during the first quarter valued at approximately $29,005,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Rush Street Interactive by 7,958.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,029,239 shares of the company's stock valued at $27,843,000 after purchasing an additional 2,004,059 shares in the last quarter. Topline Capital Management LLC bought a new position in Rush Street Interactive in the 4th quarter worth approximately $24,851,000. Finally, Nicholas Investment Partners LP acquired a new position in Rush Street Interactive during the 4th quarter worth $14,970,000. Institutional investors and hedge funds own 24.78% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on RSI shares. Oppenheimer upped their price objective on shares of Rush Street Interactive from $16.00 to $21.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. JPMorgan Chase & Co. started coverage on shares of Rush Street Interactive in a report on Monday, June 23rd. They set a "neutral" rating and a $14.00 price objective for the company. Susquehanna reaffirmed a "positive" rating and set a $19.00 price objective (up from $15.00) on shares of Rush Street Interactive in a report on Wednesday, July 30th. Needham & Company LLC increased their price target on shares of Rush Street Interactive from $17.00 to $21.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Finally, Jefferies Financial Group raised 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 data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $17.89.

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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