Insider Selling: Rush Street Interactive, Inc. (NYSE:RSI) Director Sells 224,337 Shares of Stock

Rush Street Interactive, Inc. (NYSE:RSI - Get Free Report) Director Masi Niccolo De sold 224,337 shares of the company's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $13.92, for a total transaction of $3,122,771.04. Following the transaction, the director now owns 1,208,653 shares of the company's stock, valued at $16,824,449.76. This represents a 15.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• 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 shares were sold at an average price of $13.37, for a total transaction of $2,286,577.51.

Rush Street Interactive Stock Performance

Shares of NYSE RSI traded up $0.22 during mid-day trading on Wednesday, reaching $14.10. The company had a trading volume of 1,492,827 shares, compared to its average volume of 1,778,113. The stock has a fifty day moving average of $12.32 and a two-hundred day moving average of $12.86. The company has a market capitalization of $3.23 billion, a price-to-earnings ratio of 176.25 and a beta of 1.85. Rush Street Interactive, Inc. has a 12-month low of $8.52 and a 12-month high of $16.78.

Rush Street Interactive (NYSE:RSI - Get Free Report) last posted its quarterly earnings results 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 analyst estimates 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 was up 20.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.03 earnings per share. Sell-side analysts forecast that Rush Street Interactive, Inc. will post 0.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rush Street Interactive

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RSI. Rhumbline Advisers raised its position in Rush Street Interactive by 2.4% during the fourth quarter. Rhumbline Advisers now owns 103,426 shares of the company's stock valued at $1,419,000 after acquiring an additional 2,457 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Rush Street Interactive by 10.8% in the fourth quarter. Principal Financial Group Inc. now owns 86,051 shares of the company's stock valued at $1,181,000 after purchasing an additional 8,393 shares during the period. New York State Common Retirement Fund raised its position in shares of Rush Street Interactive by 732.2% in the fourth quarter. New York State Common Retirement Fund now owns 177,627 shares of the company's stock valued at $2,437,000 after purchasing an additional 156,282 shares during the period. Ieq Capital LLC bought a new position in shares of Rush Street Interactive in the fourth quarter valued at approximately $616,000. Finally, Wealthspire Advisors LLC bought a new position in shares of Rush Street Interactive in the fourth quarter valued at approximately $206,000. Institutional investors own 24.78% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on RSI shares. Wall Street Zen upgraded shares of Rush Street Interactive from a "buy" rating to a "strong-buy" rating in a research report on Monday, June 9th. Benchmark raised their target price on shares of Rush Street Interactive from $12.00 to $14.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Wells Fargo & Company raised their target price on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock an "overweight" rating in a report on Thursday, February 27th. Susquehanna raised their target price on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock a "positive" rating in a report on Thursday, May 1st. Finally, Macquarie reiterated an "outperform" rating and issued a $16.00 target price on shares of Rush Street Interactive in a report on Friday, May 2nd. 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 stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus 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.