Insider Selling: Rush Street Interactive, Inc. (NYSE:RSI) Insider Sells 70,000 Shares of Stock

Rush Street Interactive, Inc. (NYSE:RSI - Get Free Report) insider Einar Roosileht sold 70,000 shares of the company's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $12.47, for a total transaction of $872,900.00. Following the completion of the sale, the insider now directly owns 876,150 shares of the company's stock, valued at $10,925,590.50. The trade was a 7.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Einar Roosileht also recently made the following trade(s):

• On Thursday, May 1st, Einar Roosileht sold 70,000 shares of Rush Street Interactive stock. The stock was sold at an average price of $11.53, for a total transaction of $807,100.00.
• On Wednesday, April 23rd, Einar Roosileht sold 700 shares of Rush Street Interactive stock. The shares were sold at an average price of $12.00, for a total transaction of $8,400.00.
• On Wednesday, April 9th, Einar Roosileht sold 9,300 shares of Rush Street Interactive stock. The stock was sold at an average price of $12.00, for a total value of $111,600.00.
• On Tuesday, April 1st, Einar Roosileht sold 60,000 shares of Rush Street Interactive stock. The shares were sold at an average price of $10.69, for a total value of $641,400.00.

Rush Street Interactive Price Performance

NYSE RSI traded up $0.63 on Friday, hitting $13.41. 1,216,283 shares of the company were exchanged, compared to its average volume of 1,818,961. The company's 50 day moving average price is $11.82 and its 200-day moving average price is $12.85. The firm has a market capitalization of $3.07 billion, a P/E ratio of -670.55 and a beta of 1.85. Rush Street Interactive, Inc. has a twelve month low of $8.52 and a twelve 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 for the quarter, beating the consensus estimate of $0.08 by $0.01. The firm had revenue of $262.41 million for the quarter, compared to analyst estimates of $258.90 million. Rush Street Interactive had a negative return on equity of 3.73% and a negative net margin of 0.16%. Rush Street Interactive's quarterly revenue was up 20.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.03 earnings per share. As a group, equities analysts expect that Rush Street Interactive, Inc. will post 0.04 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RSI. Macquarie restated an "outperform" rating and issued a $16.00 price objective on shares of Rush Street Interactive in a report on Friday, May 2nd. Wall Street Zen cut shares of Rush Street Interactive from a "strong-buy" rating to a "buy" rating in a research report on Sunday, June 1st. Susquehanna raised their price objective on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company a "positive" rating in a research report on Thursday, May 1st. Wells Fargo & Company lifted their price objective on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock an "overweight" rating in a research note on Thursday, February 27th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $17.00 target price on shares of Rush Street Interactive in a report on Thursday, May 1st. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $15.63.

Hedge Funds Weigh In On Rush Street Interactive

A number of hedge funds have recently modified their holdings of RSI. Pacer Advisors Inc. grew its position in Rush Street Interactive by 94.7% in 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 in the last quarter. R Squared Ltd bought a new stake in shares of Rush Street Interactive in the fourth quarter valued at about $28,000. Summit Securities Group LLC acquired a new stake in shares of Rush Street Interactive during the 1st quarter worth approximately $33,000. Heck Capital Advisors LLC acquired a new stake in Rush Street Interactive during the fourth quarter worth $34,000. 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 valued at $70,000 after acquiring an additional 6,143 shares in the last quarter. 24.78% of the stock is owned by institutional investors and hedge funds.

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.