Insider Selling: Rush Street Interactive, Inc. (NYSE:RSI) Director Sells 446,094 Shares of Stock

Key Points

• Director Masi Niccolo De of Rush Street Interactive sold 446,094 shares of stock at an average price of $18.35, totaling $8.19 million, which marks a significant decrease in his position by 96.7%.
• The company reported earnings of $0.11 per share for the last quarter, surpassing analyst estimates, with revenues increasing by 22.2% year-over-year to $269.22 million.
• Analysts have raised their price targets for Rush Street Interactive, with several firms now rating the stock as a "buy" or "strong-buy", reflecting positive sentiment in the market.

Rush Street Interactive, Inc. (NYSE:RSI - Get Free Report) Director Masi Niccolo De sold 446,094 shares of the business's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $18.35, for a total transaction of $8,185,824.90. Following the sale, the director owned 15,203 shares in the company, valued at $278,975.05. This trade represents a 96.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, July 8th, Masi Niccolo De sold 58,453 shares of Rush Street Interactive stock. The stock was sold at an average price of $15.28, for a total value of $893,161.84.
• On Monday, July 7th, Masi Niccolo De sold 276,163 shares of Rush Street Interactive stock. The shares were sold at an average price of $15.15, for a total value of $4,183,869.45.
• On Thursday, July 3rd, Masi Niccolo De sold 111,478 shares of Rush Street Interactive stock. The shares were sold at an average price of $15.10, for a total value of $1,683,317.80.
• On Friday, June 20th, Masi Niccolo De sold 29,696 shares of Rush Street Interactive stock. The shares were sold at an average price of $13.90, for a total value of $412,774.40.
• 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 value 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 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 Price Performance

NYSE:RSI traded down $0.75 during mid-day trading on Tuesday, reaching $18.96. The company's stock had a trading volume of 429,729 shares, compared to its average volume of 1,728,357. The company's fifty day simple moving average is $14.55 and its two-hundred day simple moving average is $13.14. Rush Street Interactive, Inc. has a twelve month low of $8.76 and a twelve month high of $20.32. The stock has a market cap of $4.34 billion, a P/E ratio of 94.82 and a beta of 1.90.

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. Rush Street Interactive had a return on equity of 16.53% and a net margin of 2.48%. The firm had revenue of $269.22 million for the quarter, compared to analyst estimates of $248.98 million. During the same period last year, the company earned $0.04 EPS. The firm's quarterly revenue was up 22.2% on a year-over-year basis. Sell-side analysts expect that Rush Street Interactive, Inc. will post 0.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on RSI. 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, July 30th. Wall Street Zen raised Rush Street Interactive from a "buy" rating to a "strong-buy" rating in a report on Friday, July 18th. Needham & Company LLC upped their target price on Rush Street Interactive from $17.00 to $21.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Jefferies Financial Group upped their target price on Rush Street Interactive from $17.00 to $18.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. Finally, Macquarie reissued an "outperform" rating and issued a $16.00 target price on shares of Rush Street Interactive in a report on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned 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 an average price target of $17.89.

Hedge Funds Weigh In On Rush Street Interactive

A number of large investors have recently modified their holdings of RSI. Pacer Advisors Inc. raised its holdings in shares of Rush Street Interactive by 94.7% in the 1st quarter. Pacer Advisors Inc. now owns 2,533 shares of the company's stock worth $27,000 after purchasing an additional 1,232 shares during the period. Summit Securities Group LLC purchased a new stake in shares of Rush Street Interactive during the 1st quarter valued at about $33,000. Heck Capital Advisors LLC purchased a new stake in shares of Rush Street Interactive during the 4th quarter valued at about $34,000. Farther Finance Advisors LLC purchased a new stake in shares of Rush Street Interactive during the 2nd quarter valued at about $42,000. Finally, GAMMA Investing LLC raised its holdings in shares of Rush Street Interactive by 1,687.6% during the 1st quarter. GAMMA Investing LLC now owns 6,507 shares of the company's stock valued at $70,000 after buying an additional 6,143 shares during the period. 24.78% of the stock is currently 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.