Insider Selling: Rush Street Interactive, Inc. (NYSE:RSI) Director Sells 29,696 Shares of Stock

Rush Street Interactive, Inc. (NYSE:RSI - Get Free Report) Director Masi Niccolo De sold 29,696 shares of the stock in a transaction on Friday, June 20th. The stock was sold at an average price of $13.90, for a total value of $412,774.40. Following the completion of the sale, the director now directly owns 892,188 shares in the company, valued at $12,401,413.20. This represents a 3.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, June 18th, Masi Niccolo De sold 286,769 shares of Rush Street Interactive stock. The stock was sold at an average price of $14.08, for a total value of $4,037,707.52.
• On Tuesday, June 17th, Masi Niccolo De sold 224,337 shares of Rush Street Interactive stock. The shares were 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 shares were 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 Performance

NYSE:RSI traded down $0.22 during mid-day trading on Friday, hitting $13.88. The company had a trading volume of 1,579,946 shares, compared to its average volume of 1,777,144. The firm has a market cap of $3.18 billion, a P/E ratio of 128.18 and a beta of 1.85. The business's fifty day moving average is $12.38 and its two-hundred day moving average is $12.86. Rush Street Interactive, Inc. has a fifty-two week low of $8.52 and a fifty-two week high of $16.78.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Alliancebernstein L.P. boosted 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 valued at $65,754,000 after purchasing an additional 5,776,660 shares during the period. Nuveen LLC acquired a new position in Rush Street Interactive in the 1st quarter valued at $29,005,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Rush Street Interactive by 7,958.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,029,239 shares of the company's stock worth $27,843,000 after buying an additional 2,004,059 shares in the last quarter. Topline Capital Management LLC acquired a new position in shares of Rush Street Interactive during the 4th quarter worth $24,851,000. Finally, William Blair Investment Management LLC acquired a new position in shares of Rush Street Interactive during the 4th quarter worth $21,635,000. 24.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Wells Fargo & Company increased their price objective on Rush Street Interactive from $14.00 to $15.00 and gave the stock an "overweight" rating in a research note on Thursday, February 27th. Needham & Company LLC reissued a "buy" rating and set a $17.00 price objective on shares of Rush Street Interactive in a report on Thursday, May 1st. Benchmark raised their target price on Rush Street Interactive from $12.00 to $14.00 and gave the company a "buy" rating in a report on Friday, February 28th. Wall Street Zen raised Rush Street Interactive from a "buy" rating to a "strong-buy" rating in a report on Monday, June 9th. Finally, Susquehanna raised their target price on Rush Street Interactive from $14.00 to $15.00 and gave the company a "positive" rating in a report on Thursday, May 1st. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $15.63.

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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