Rush Street Interactive, Inc. (NYSE:RSI) Insider Sells $1,363,500.00 in Stock

Rush Street Interactive, Inc. (NYSE:RSI) insider Einar Roosileht sold 150,000 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $9.09, for a total value of $1,363,500.00. Following the transaction, the insider now owns 809,260 shares of the company’s stock, valued at $7,356,173.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Rush Street Interactive Stock Down 1.1 %

Rush Street Interactive stock opened at $9.14 on Wednesday. Rush Street Interactive, Inc. has a 52-week low of $3.17 and a 52-week high of $11.59. The firm has a market cap of $2.06 billion, a PE ratio of -53.76 and a beta of 1.79. The company’s 50 day moving average is $9.50 and its two-hundred day moving average is $7.94.

Rush Street Interactive (NYSE:RSI) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.06. The business had revenue of $220.38 million for the quarter, compared to analysts’ expectations of $201.37 million. Rush Street Interactive had a negative return on equity of 12.65% and a negative net margin of 0.84%. The company’s revenue for the quarter was up 33.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.08) earnings per share. On average, equities research analysts anticipate that Rush Street Interactive, Inc. will post -0.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Wells Fargo & Company increased their target price on shares of Rush Street Interactive from $11.00 to $13.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Oppenheimer increased their price objective on shares of Rush Street Interactive from $10.00 to $14.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Needham & Company LLC boosted their target price on Rush Street Interactive from $10.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Craig Hallum raised their price target on Rush Street Interactive from $11.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Rush Street Interactive has a consensus rating of “Moderate Buy” and a consensus target price of $11.17.

Hedge Funds Weigh In On Rush Street Interactive

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Rush Street Interactive by 1.6% during the first quarter. Vanguard Group Inc. now owns 5,481,219 shares of the company’s stock worth $35,683,000 after buying an additional 85,736 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Rush Street Interactive in the 2nd quarter valued at approximately $1,565,000. Nomura Holdings Inc. raised its holdings in shares of Rush Street Interactive by 24.7% in the 4th quarter. Nomura Holdings Inc. now owns 4,184,373 shares of the company’s stock valued at $18,788,000 after purchasing an additional 828,984 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Rush Street Interactive by 13,627.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,943 shares of the company’s stock worth $78,000 after purchasing an additional 11,856 shares during the last quarter. Finally, Bayesian Capital Management LP acquired a new position in shares of Rush Street Interactive during the first quarter worth $403,000. Hedge funds and other institutional investors own 24.78% of the company’s stock.

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.