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 company's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $19.45, for a total value of $680,750.00. Following the sale, the insider owned 91,705 shares of the company's stock, valued at $1,783,662.25. This trade represents a 27.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Rush Street Interactive Trading Down 2.9%

Shares of RSI stock traded down $0.56 during mid-day trading on Friday, reaching $18.57. The stock had a trading volume of 1,465,694 shares, compared to its average volume of 1,987,152. The business's fifty day moving average is $15.08 and its 200-day moving average is $13.28. The firm has a market cap of $4.25 billion, a price-to-earnings ratio of 92.85 and a beta of 1.90. Rush Street Interactive, Inc. has a 1-year low of $8.76 and a 1-year high of $20.32.

Rush Street Interactive (NYSE:RSI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.11 earnings per share for the quarter, beating analysts' consensus estimates of $0.08 by $0.03. The business had revenue of $269.22 million for the quarter, compared to analyst estimates of $248.98 million. Rush Street Interactive had a return on equity of 16.53% and a net margin of 2.48%. The company's revenue was up 22.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.04 earnings per share. On average, analysts forecast that Rush Street Interactive, Inc. will post 0.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on RSI. Oppenheimer upped their price objective on Rush Street Interactive from $16.00 to $21.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Susquehanna reaffirmed a "positive" rating and set a $19.00 target price (up from $15.00) on shares of Rush Street Interactive in a research report on Wednesday, July 30th. Benchmark upped their target price on Rush Street Interactive from $17.00 to $20.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Wall Street Zen raised Rush Street Interactive from a "buy" rating to a "strong-buy" rating in a research report on Friday, July 18th. Finally, Macquarie reaffirmed an "outperform" rating and set a $16.00 target price on shares of Rush Street Interactive in a research 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 given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $17.89.

Institutional Trading of Rush Street Interactive

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Pacer Advisors Inc. grew its holdings in 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 acquiring an additional 1,232 shares during the period. Summit Securities Group LLC acquired a new stake in Rush Street Interactive during the first quarter worth about $33,000. Heck Capital Advisors LLC acquired a new stake in Rush Street Interactive during the fourth quarter worth about $34,000. Farther Finance Advisors LLC acquired a new stake in Rush Street Interactive during the second quarter worth about $42,000. Finally, GAMMA Investing LLC grew its holdings in Rush Street Interactive by 1,687.6% during the first quarter. GAMMA Investing LLC now owns 6,507 shares of the company's stock worth $70,000 after acquiring an additional 6,143 shares during the period. 24.78% of the stock is owned by institutional investors and hedge funds.

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.