Insider Selling: Rush Street Interactive, Inc. (NYSE:RSI) Director Sells 286,769 Shares of Stock

Rush Street Interactive, Inc. (NYSE:RSI - Get Free Report) Director Masi Niccolo De sold 286,769 shares of the company's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $14.08, for a total value of $4,037,707.52. Following the sale, the director now owns 921,884 shares of the company's stock, valued at $12,980,126.72. This trade represents a 23.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Masi Niccolo De also recently made the following trade(s):

• On Friday, June 20th, Masi Niccolo De sold 29,696 shares of Rush Street Interactive stock. The stock was sold at an average price of $13.90, for a total value of $412,774.40.
• On Tuesday, June 17th, Masi Niccolo De sold 224,337 shares of Rush Street Interactive stock. The stock was sold at an average price of $13.92, for a total value of $3,122,771.04.
• On Monday, June 16th, Masi Niccolo De sold 180,362 shares of Rush Street Interactive stock. The stock was sold at an average price of $13.70, for a total value of $2,470,959.40.
• On Friday, June 13th, Masi Niccolo De sold 171,023 shares of Rush Street Interactive stock. The stock was sold at an average price of $13.37, for a total value of $2,286,577.51.

Rush Street Interactive Stock Down 1.5%

Shares of NYSE:RSI traded down $0.22 during midday trading on Friday, reaching $13.88. 1,579,946 shares of the company traded hands, compared to its average volume of 1,777,144. Rush Street Interactive, Inc. has a 12 month low of $8.52 and a 12 month high of $16.78. The firm has a market capitalization of $3.18 billion, a price-to-earnings ratio of 128.18 and a beta of 1.85. The firm's fifty day moving average price is $12.38 and its two-hundred day moving average price is $12.86.

Rush Street Interactive (NYSE:RSI - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.08 by $0.01. Rush Street Interactive had a return on equity of 7.35% and a net margin of 0.87%. The company had revenue of $262.41 million for the quarter, compared to analyst estimates of $258.90 million. During the same period in the previous year, the company posted $0.03 EPS. The firm's revenue for the quarter was up 20.7% compared to the same quarter last year. Analysts forecast that Rush Street Interactive, Inc. will post 0.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on RSI shares. Needham & Company LLC reissued a "buy" rating and issued a $17.00 price objective on shares of Rush Street Interactive in a research report on Thursday, May 1st. Macquarie reaffirmed an "outperform" rating and set a $16.00 price target on shares of Rush Street Interactive in a research report on Friday, May 2nd. Wall Street Zen raised Rush Street Interactive from a "buy" rating to a "strong-buy" rating in a research report on Monday, June 9th. Susquehanna upped their price target on Rush Street Interactive from $14.00 to $15.00 and gave the company a "positive" rating in a research report on Thursday, May 1st. Finally, Benchmark upped their price target on Rush Street Interactive from $12.00 to $14.00 and gave the company a "buy" rating in a research report on Friday, February 28th. One equities research analyst has 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. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $15.63.

Institutional Trading of Rush Street Interactive

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Rush Street Interactive by 14.0% during the 4th quarter. Vanguard Group Inc. now owns 8,596,434 shares of the company's stock valued at $117,943,000 after purchasing an additional 1,056,583 shares during the period. Alliancebernstein L.P. increased its stake in Rush Street Interactive by 1,617.7% in 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 position in Rush Street Interactive in the 1st quarter worth about $29,005,000. Arrowstreet Capital Limited Partnership increased its stake in Rush Street Interactive by 62.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,663,246 shares of the company's stock worth $36,540,000 after acquiring an additional 1,018,889 shares during the last quarter. Finally, Driehaus Capital Management LLC increased its stake in Rush Street Interactive by 12.7% in the 1st quarter. Driehaus Capital Management LLC now owns 2,480,268 shares of the company's stock worth $26,588,000 after acquiring an additional 279,751 shares during the last quarter. 24.78% of the stock is currently owned by institutional investors.

About Rush Street Interactive

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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