Rush Street Interactive (NYSE:RSI) Director Acquires 1,500 Shares of Company Stock

Rush Street Interactive, Inc. (NYSE:RSI) Director Jack Markell bought 1,500 shares of Rush Street Interactive stock in a transaction that occurred on Friday, September 25th. The shares were acquired at an average price of $19.35 per share, with a total value of $29,025.00. Following the acquisition, the director directly owned 18,883 shares of the company’s stock, valued at $365,386.05. The trade was a 8.63% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Rush Street Interactive Price Performance

RSI stock traded up $0.34 during midday trading on Friday, hitting $19.88. The company’s stock had a trading volume of 2,876,359 shares, compared to its average volume of 2,450,186. Rush Street Interactive, Inc. has a twelve month low of $15.51 and a twelve month high of $34.53. The company’s fifty day moving average price is $26.61 and its 200 day moving average price is $26.31. The stock has a market capitalization of $4.61 billion, a P/E ratio of 68.54 and a beta of 1.51.

Rush Street Interactive (NYSE:RSI) last released its earnings results on Wednesday, July 29th. The company reported $0.15 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.15. The business had revenue of $393.78 million for the quarter, compared to the consensus estimate of $367.75 million. Rush Street Interactive had a return on equity of 18.88% and a net margin of 2.33%.Rush Street Interactive’s quarterly revenue was up 46.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.11 earnings per share. Equities analysts expect that Rush Street Interactive, Inc. will post 0.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

RSI has been the subject of several recent analyst reports. Wells Fargo & Company raised their target price on shares of Rush Street Interactive from $35.00 to $36.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Jefferies Financial Group reissued a “buy” rating and set a $39.00 price target on shares of Rush Street Interactive in a research report on Thursday, July 30th. New Street Research set a $35.00 price objective on Rush Street Interactive in a research note on Thursday, July 23rd. Oppenheimer raised their price objective on Rush Street Interactive from $30.00 to $36.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Finally, Wall Street Zen upgraded Rush Street Interactive from a “hold” rating to a “buy” rating in a research note on Sunday, September 13th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Rush Street Interactive has a consensus rating of “Moderate Buy” and an average price target of $35.10.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Tidal Investments LLC bought a new position in Rush Street Interactive in the 2nd quarter valued at about $1,323,000. Integrated Wealth Concepts LLC bought a new stake in shares of Rush Street Interactive during the second quarter worth approximately $70,000. Allworth Financial LP boosted its holdings in shares of Rush Street Interactive by 38.1% during the second quarter. Allworth Financial LP now owns 1,917 shares of the company’s stock worth $57,000 after acquiring an additional 529 shares during the period. Arizona State Retirement System grew its position in shares of Rush Street Interactive by 11.4% in the second quarter. Arizona State Retirement System now owns 30,002 shares of the company’s stock valued at $892,000 after purchasing an additional 3,081 shares during the last quarter. Finally, Corient Private Wealth LP increased its stake in shares of Rush Street Interactive by 14.7% during the second quarter. Corient Private Wealth LP now owns 75,364 shares of the company’s stock worth $2,241,000 after purchasing an additional 9,687 shares during the period. Institutional investors and hedge funds own 24.78% of the company’s stock.

About Rush Street Interactive

Rush Street Interactive, Inc (NYSE: RSI) is an online gaming and sports betting company that operates digital casino, sportsbook and related gaming platforms. Its consumer-facing brands include BetRivers and PlaySugarHouse, which offer mobile and online wagering products such as sports betting, internet casino games and, in certain markets, online poker.

The company operates primarily in regulated markets across the United States and Canada, as well as select Latin American jurisdictions.