Masi Niccolo De Sells 180,362 Shares of Rush Street Interactive, Inc. (NYSE:RSI) Stock

Rush Street Interactive, Inc. (NYSE:RSI - Get Free Report) Director Masi Niccolo De sold 180,362 shares of the business's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $13.70, for a total value of $2,470,959.40. Following the sale, the director now owns 1,432,990 shares of the company's stock, valued at approximately $19,631,963. This represents a 11.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• 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 Friday, June 13th, Masi Niccolo De sold 171,023 shares of Rush Street Interactive stock. The shares were sold at an average price of $13.37, for a total value of $2,286,577.51.

Rush Street Interactive Stock Up 1.6%

Shares of NYSE:RSI traded up $0.22 during midday trading on Wednesday, reaching $14.10. 1,492,827 shares of the company traded hands, compared to its average volume of 1,778,113. 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 $3.23 billion, a price-to-earnings ratio of 176.25 and a beta of 1.85. The firm's fifty day moving average price is $12.32 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.

Hedge Funds Weigh In On Rush Street Interactive

A number of institutional investors have recently added to or reduced their stakes in RSI. Pacer Advisors Inc. increased its stake in 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 acquiring an additional 1,232 shares during the last quarter. Summit Securities Group LLC purchased a new position in shares of Rush Street Interactive in the 1st quarter worth about $33,000. Heck Capital Advisors LLC purchased a new position in shares of Rush Street Interactive in the 4th quarter worth about $34,000. GAMMA Investing LLC boosted its holdings in shares of Rush Street Interactive by 1,687.6% in 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. Finally, WealthTrak Capital Management LLC purchased a new position in shares of Rush Street Interactive in the 4th quarter worth about $71,000. 24.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Needham & Company LLC reaffirmed a "buy" rating and set a $17.00 target price on shares of Rush Street Interactive in a research report on Thursday, May 1st. Macquarie reissued an "outperform" rating and issued a $16.00 price objective on shares of Rush Street Interactive in a research report on Friday, May 2nd. Susquehanna boosted their price objective on Rush Street Interactive from $14.00 to $15.00 and gave the stock a "positive" rating in a research report on Thursday, May 1st. Wells Fargo & Company boosted their price objective on Rush Street Interactive from $14.00 to $15.00 and gave the stock an "overweight" rating in a research report on Thursday, February 27th. Finally, Wall Street Zen raised Rush Street Interactive from a "buy" rating to a "strong-buy" rating in a research report on Monday, June 9th. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Rush Street Interactive presently has a consensus 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.