Rush Street Interactive, Inc. (NYSE:RSI) Director Sells $8,185,824.90 in 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 Rush Street Interactive stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $18.35, for a total value of $8,185,824.90. Following the completion of the transaction, the director owned 15,203 shares of the company's stock, valued at approximately $278,975.05. The trade was a 96.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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 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 Trading Down 4.0%

Shares of NYSE:RSI traded down $0.81 during trading on Friday, reaching $19.35. 4,670,008 shares of the stock were exchanged, compared to its average volume of 1,725,572. The firm has a market cap of $4.43 billion, a PE ratio of 96.75 and a beta of 1.89. The stock has a 50-day moving average price of $14.40 and a 200-day moving average price of $13.12. Rush Street Interactive, Inc. has a 12 month low of $8.52 and a 12 month high of $20.32.

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, beating the consensus estimate of $0.08 by $0.03. Rush Street Interactive had a return on equity of 17.77% and a net margin of 2.48%. The business had revenue of $269.22 million during the quarter, compared to analysts' expectations of $248.98 million. During the same period in the previous year, the company posted $0.04 earnings per share. The firm's revenue for the quarter was up 22.2% compared to the same quarter last year. On average, sell-side analysts expect that Rush Street Interactive, Inc. will post 0.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RSI. Benchmark increased their price target on Rush Street Interactive from $17.00 to $20.00 and gave the stock a "buy" rating in a research report on Thursday. Jefferies Financial Group raised their price target on Rush Street Interactive from $17.00 to $18.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. JPMorgan Chase & Co. began coverage on shares of Rush Street Interactive in a research report on Monday, June 23rd. They set a "neutral" rating and a $14.00 target price on the stock. Macquarie restated an "outperform" rating and set a $16.00 target price on shares of Rush Street Interactive in a research report on Friday, May 2nd. Finally, Wall Street Zen upgraded shares of Rush Street Interactive from a "buy" rating to a "strong-buy" rating in a research report on Friday, July 18th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $17.89.

Hedge Funds Weigh In On Rush Street Interactive

Several hedge funds and other institutional investors have recently modified their holdings of the business. Pacer Advisors Inc. increased its holdings in shares of Rush Street Interactive by 94.7% during the first quarter. Pacer Advisors Inc. now owns 2,533 shares of the company's stock worth $27,000 after buying an additional 1,232 shares in the last quarter. Summit Securities Group LLC bought a new stake in Rush Street Interactive during the first quarter valued at $33,000. Heck Capital Advisors LLC bought a new stake in Rush Street Interactive during the fourth quarter valued at $34,000. Farther Finance Advisors LLC bought a new stake in Rush Street Interactive during the second quarter valued at $42,000. Finally, GAMMA Investing LLC boosted its position 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 worth $70,000 after purchasing an additional 6,143 shares in the last quarter. Institutional investors own 24.78% of the company's stock.

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.