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 that occurred on Friday, June 20th. The stock was sold at an average price of $13.90, for a total transaction of $412,774.40. Following the completion of the transaction, the director now owns 892,188 shares in the company, valued at approximately $12,401,413.20. This trade represents a 3.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

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 shares were sold at an average price of $14.08, for a total transaction of $4,037,707.52.
• 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 transaction 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 transaction 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 Up 2.5%

Shares of RSI stock traded up $0.34 during trading hours on Monday, hitting $14.18. 1,345,766 shares of the company's stock were exchanged, compared to its average volume of 1,773,574. Rush Street Interactive, Inc. has a fifty-two week low of $8.52 and a fifty-two week high of $16.78. The firm has a market cap of $3.25 billion, a P/E ratio of 177.27 and a beta of 1.85. The firm has a 50 day moving average of $12.42 and a two-hundred day moving average of $12.84.

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 for the quarter, topping analysts' consensus estimates of $0.08 by $0.01. The company had revenue of $262.41 million during the quarter, compared to analysts' expectations of $258.90 million. Rush Street Interactive had a net margin of 0.87% and a return on equity of 7.35%. The firm's revenue for the quarter was up 20.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.03 earnings per share. On average, equities analysts forecast that Rush Street Interactive, Inc. will post 0.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Alliancebernstein L.P. boosted its holdings 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 buying an additional 5,776,660 shares during the last quarter. Nuveen LLC acquired a new position in shares of Rush Street Interactive during the first quarter valued at approximately $29,005,000. Price T Rowe Associates Inc. MD lifted its position 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 acquiring an additional 2,004,059 shares in the last quarter. Topline Capital Management LLC acquired a new stake in shares of Rush Street Interactive in the fourth quarter worth approximately $24,851,000. Finally, William Blair Investment Management LLC purchased a new stake in shares of Rush Street Interactive during the fourth quarter worth approximately $21,635,000. Institutional investors and hedge funds own 24.78% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on RSI. Benchmark upped their target price on Rush Street Interactive from $12.00 to $14.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. JPMorgan Chase & Co. initiated coverage on Rush Street Interactive in a research report on Monday. They set a "neutral" rating and a $14.00 price target for the company. Macquarie reaffirmed an "outperform" rating and set a $16.00 price objective on shares of Rush Street Interactive in a research note on Friday, May 2nd. Wall Street Zen raised shares of Rush Street Interactive from a "buy" rating to a "strong-buy" rating in a research note on Monday, June 9th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $17.00 target price on shares of Rush Street Interactive in a research note on Thursday, May 1st. Two 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 stock. Based on data from MarketBeat, Rush Street Interactive has an average rating of "Moderate Buy" and a consensus target price of $15.44.

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.