Rush Street Interactive, Inc. (NYSE:RSI) Insider Sells $680,750.00 in Stock

Key Points

• Paul Wierbicki, an insider at Rush Street Interactive, sold 35,000 shares for a total of $680,750, reducing their ownership by 27.62%.
• The company's last quarterly earnings showed a revenue of $269.22 million, exceeding estimates and reflecting a 22.2% increase year-over-year.
• Analysts have raised their price targets for Rush Street Interactive, with Oppenheimer setting a new target of $21.00 and an overall consensus target price of $17.89.

Rush Street Interactive, Inc. (NYSE:RSI - Get Free Report) insider Paul Wierbicki sold 35,000 shares of the firm's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $19.45, for a total value of $680,750.00. Following the completion of the transaction, the insider directly owned 91,705 shares in the company, valued at $1,783,662.25. The trade was a 27.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Rush Street Interactive Stock Performance

NYSE:RSI traded down $0.58 during trading hours on Tuesday, reaching $19.13. The stock had a trading volume of 1,423,387 shares, compared to its average volume of 1,735,253. Rush Street Interactive, Inc. has a 52 week low of $8.76 and a 52 week high of $20.32. The company has a 50 day moving average price of $14.55 and a two-hundred day moving average price of $13.14. The stock has a market capitalization of $4.38 billion, a PE ratio of 95.65 and a beta of 1.90.

Rush Street Interactive (NYSE:RSI - Get Free Report) last released its quarterly earnings data 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 business had revenue of $269.22 million for the quarter, compared to the consensus estimate of $248.98 million. During the same quarter in the previous year, the company posted $0.04 EPS. The company's revenue was up 22.2% compared to the same quarter last year. Equities research analysts predict that Rush Street Interactive, Inc. will post 0.04 EPS for the current year.

Hedge Funds Weigh In On Rush Street Interactive

Hedge funds have recently bought and sold shares of the business. Bank of America Corp DE lifted its stake in shares of Rush Street Interactive by 28.0% during the 4th quarter. Bank of America Corp DE now owns 563,769 shares of the company's stock worth $7,735,000 after purchasing an additional 123,305 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Rush Street Interactive by 72.6% in the first quarter. Assenagon Asset Management S.A. now owns 542,376 shares of the company's stock valued at $5,814,000 after buying an additional 228,187 shares during the last quarter. Calamos Advisors LLC raised its stake in Rush Street Interactive by 17.9% in the first quarter. Calamos Advisors LLC now owns 540,008 shares of the company's stock valued at $5,789,000 after buying an additional 82,067 shares during the last quarter. Two Sigma Investments LP purchased a new stake in Rush Street Interactive in the fourth quarter valued at about $783,000. Finally, GAMMA Investing LLC raised its stake in shares of Rush Street Interactive by 1,687.6% in the first quarter. GAMMA Investing LLC now owns 6,507 shares of the company's stock worth $70,000 after purchasing an additional 6,143 shares during the last quarter. Institutional investors own 24.78% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Oppenheimer lifted their price objective on Rush Street Interactive from $16.00 to $21.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Susquehanna reaffirmed a "positive" rating and set a $19.00 price objective (up from $15.00) on shares of Rush Street Interactive in a research report on Wednesday, July 30th. Needham & Company LLC lifted their price objective on Rush Street Interactive from $17.00 to $21.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Benchmark boosted their price target on Rush Street Interactive from $17.00 to $20.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Finally, Macquarie reissued an "outperform" rating and issued a $16.00 price target on shares of Rush Street Interactive in a report on Friday, May 2nd. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Rush Street Interactive has an average rating of "Moderate Buy" and a consensus target price of $17.89.

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.

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