Insider Buying: Rush Street Interactive (NYSE:RSI) Director Buys $118,300.00 in Stock

Rush Street Interactive, Inc. (NYSE:RSI) Director Thomas Winter bought 10,000 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The shares were purchased at an average price of $11.83 per share, for a total transaction of $118,300.00. Following the completion of the purchase, the director directly owned 30,497 shares of the company’s stock, valued at approximately $360,779.51. This trade represents a 48.79% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Rush Street Interactive Trading Down 1.5%

Shares of NYSE:RSI opened at $12.34 on Thursday. The firm has a 50 day simple moving average of $20.68 and a 200-day simple moving average of $23.63. Rush Street Interactive, Inc. has a twelve month low of $11.39 and a twelve month high of $34.53. The company has a market capitalization of $2.86 billion, a PE ratio of 37.41 and a beta of 1.80.

Rush Street Interactive (NYSE:RSI) last issued its quarterly earnings data on Wednesday, October 28th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.02. The company had revenue of $385.85 million for the quarter, compared to the consensus estimate of $388.05 million. Rush Street Interactive had a net margin of 2.56% and a return on equity of 24.46%. Rush Street Interactive’s revenue for the quarter was up 38.8% on a year-over-year basis. During the same period last year, the firm posted $0.09 EPS. As a group, equities research analysts predict that Rush Street Interactive, Inc. will post 0.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Rush Street Interactive

A number of institutional investors and hedge funds have recently bought and sold shares of RSI. Allspring Global Investments Holdings LLC raised its stake in Rush Street Interactive by 3.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 31,587 shares of the company’s stock valued at $630,000 after acquiring an additional 1,199 shares during the period. Covestor Ltd raised its stake in Rush Street Interactive by 809.3% in the 3rd quarter. Covestor Ltd now owns 3,537 shares of the company’s stock valued at $72,000 after acquiring an additional 3,148 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in shares of Rush Street Interactive by 9.3% during the third quarter. Oregon Public Employees Retirement Fund now owns 25,900 shares of the company’s stock valued at $527,000 after purchasing an additional 2,200 shares during the period. VCI Wealth Management LLC bought a new stake in shares of Rush Street Interactive in the 3rd quarter worth approximately $851,000. Finally, ProShare Advisors LLC grew its stake in shares of Rush Street Interactive by 7.0% during the 3rd quarter. ProShare Advisors LLC now owns 15,523 shares of the company’s stock valued at $316,000 after purchasing an additional 1,012 shares during the period. Institutional investors and hedge funds own 24.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RSI. JPMorgan Chase & Co. cut their price objective on Rush Street Interactive from $22.00 to $18.00 and set a “neutral” rating on the stock in a report on Thursday, October 29th. Wells Fargo & Company cut their price objective on Rush Street Interactive from $36.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday, October 29th. Citizens Jmp cut their price objective on shares of Rush Street Interactive from $34.00 to $24.00 and set a “market outperform” rating on the stock in a report on Thursday, October 29th. Weiss Ratings upgraded shares of Rush Street Interactive from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, October 21st. Finally, Morgan Stanley initiated coverage on Rush Street Interactive in a research note on Monday, October 19th. They issued an “equal weight” rating and a $22.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $26.46.

Rush Street Interactive Company Profile

Rush Street Interactive, Inc is an online gaming and sports betting company that operates regulated internet casino and sportsbook platforms. Its primary consumer brands include BetRivers, PlaySugarHouse and RushBet, offering online casino games, sports wagering and related digital gaming products through websites and mobile applications.

The company serves customers in regulated markets across the United States and Latin America, with operations also extending to select international jurisdictions.