Rush Street Interactive (NYSE:RSI) Stock: Insider Mattias Stetz Sells 20,000 Shares

Rush Street Interactive, Inc. (NYSE:RSI) COO Mattias Stetz sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $19.87, for a total transaction of $397,400.00. Following the transaction, the chief operating officer directly owned 137,874 shares of the company’s stock, valued at $2,739,556.38. This trade represents a 12.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Mattias Stetz also recently made the following trade(s):

• On Tuesday, September 1st, Mattias Stetz sold 20,000 shares of Rush Street Interactive stock. The stock was sold at an average price of $25.68, for a total transaction of $513,600.00.
• On Monday, August 3rd, Mattias Stetz sold 20,000 shares of Rush Street Interactive stock. The shares were sold at an average price of $28.03, for a total transaction of $560,600.00.

Rush Street Interactive Stock Up 5.1%

Shares of NYSE RSI traded up $1.01 during trading on Monday, hitting $21.02. 4,056,695 shares of the company traded hands, compared to its average volume of 2,476,846. The firm has a market capitalization of $4.87 billion, a P/E ratio of 72.50 and a beta of 1.71. The company has a 50-day moving average price of $25.11 and a 200-day moving average price of $26.28. Rush Street Interactive, Inc. has a 1 year low of $15.51 and a 1 year high of $34.53.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Susquehanna lifted their price objective on Rush Street Interactive from $30.00 to $36.00 and gave the company a “positive” rating in a research note on Wednesday, July 29th. Needham & Company LLC increased their target price on shares of Rush Street Interactive from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Wall Street Zen upgraded shares of Rush Street Interactive from a “hold” rating to a “buy” rating in a report on Sunday, September 13th. Stifel Nicolaus initiated coverage on shares of Rush Street Interactive in a research report on Monday, September 21st. They set a “buy” rating and a $34.00 price target on the stock. Finally, Weiss Ratings downgraded shares of Rush Street Interactive from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, September 28th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $35.10.

Institutional Investors Weigh In On Rush Street Interactive

Large investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in shares of Rush Street Interactive during the 2nd quarter valued at about $448,435,000. William Blair Investment Management LLC purchased a new position in Rush Street Interactive in the 2nd quarter worth approximately $48,647,000. Arrowstreet Capital Limited Partnership boosted its holdings in Rush Street Interactive by 84.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,764,173 shares of the company’s stock worth $60,121,000 after acquiring an additional 1,267,622 shares during the period. Bank of America Corp DE acquired a new stake in Rush Street Interactive in the second quarter valued at approximately $34,015,000. Finally, Cooper Creek Partners Management LLC purchased a new stake in shares of Rush Street Interactive during the first quarter valued at approximately $24,874,000. Institutional investors and hedge funds own 24.78% of the company’s stock.

About Rush Street Interactive

Rush Street Interactive, Inc is an online gaming and sports betting company that operates regulated internet casino and sportsbook platforms. Its consumer-facing brands include BetRivers and PlaySugarHouse, which offer online casino games, sports wagering, and related digital gaming services where permitted by local regulations.

The company serves customers in multiple regulated markets across the United States and Latin America. Its operations have included online sports betting and casino gaming in U.S.