Rush Street Interactive (NYSE:RSI) Stock: Insider Kyle Sauers Sells 23,000 Shares

Rush Street Interactive, Inc. (NYSE:RSI) CFO Kyle Sauers sold 23,000 shares of Rush Street Interactive stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $12.00, for a total value of $276,000.00. Following the transaction, the chief financial officer directly owned 555,417 shares in the company, valued at approximately $6,665,004. The trade was a 3.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kyle Sauers also recently made the following trade(s):

• On Monday, October 5th, Kyle Sauers sold 23,000 shares of Rush Street Interactive stock. The shares were sold at an average price of $20.31, for a total transaction of $467,130.00.
• On Thursday, September 3rd, Kyle Sauers sold 23,000 shares of Rush Street Interactive stock. The stock was sold at an average price of $26.56, for a total transaction of $610,880.00.

Rush Street Interactive Trading Down 3.9%

Shares of NYSE RSI traded down $0.48 during midday trading on Thursday, reaching $11.87. The company’s stock had a trading volume of 5,374,257 shares, compared to its average volume of 2,719,369. The company has a 50 day moving average price of $20.68 and a 200 day moving average price of $23.63. Rush Street Interactive, Inc. has a one year low of $11.39 and a one year high of $34.53. The company has a market cap of $2.75 billion, a price-to-earnings ratio of 35.96 and a beta of 1.80.

Rush Street Interactive (NYSE:RSI) last issued its earnings results on Wednesday, October 28th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. The firm had revenue of $385.85 million during the quarter, compared to analysts’ expectations of $388.05 million. Rush Street Interactive had a net margin of 2.56% and a return on equity of 24.46%. The firm’s revenue for the quarter was up 38.8% compared to the same quarter last year. During the same period last year, the firm posted $0.09 earnings per share. Research analysts anticipate that Rush Street Interactive, Inc. will post 0.49 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on RSI shares. Stifel Nicolaus cut their price objective on Rush Street Interactive from $34.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, October 26th. New Street Research set a $35.00 target price on Rush Street Interactive in a report on Thursday, July 23rd. Craig Hallum lowered Rush Street Interactive from a “buy” rating to a “hold” rating and set a $15.00 target price on the stock. in a research report on Monday. Needham & Company LLC reduced their target price on Rush Street Interactive from $36.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, October 29th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Rush Street Interactive in a research report on Thursday, October 29th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $26.46.

Hedge Funds Weigh In On Rush Street Interactive

Hedge funds have recently modified their holdings of the stock. Global Retirement Partners LLC acquired a new position in Rush Street Interactive in the 2nd quarter worth about $35,000. Jacobi Capital Management LLC purchased a new stake in shares of Rush Street Interactive during the 3rd quarter worth about $35,000. CoreCap Advisors LLC acquired a new stake in shares of Rush Street Interactive during the 2nd quarter valued at about $54,000. Allworth Financial LP acquired a new stake in shares of Rush Street Interactive during the 2nd quarter valued at about $57,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of Rush Street Interactive during the 2nd quarter valued at about $70,000. 24.78% of the stock is owned by institutional investors and hedge funds.

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.