Rush Street Interactive (NYSE:RSI) Director Acquires $118,300.00 in Stock

Rush Street Interactive, Inc. (NYSE:RSI) Director Thomas Winter acquired 10,000 shares of the company’s stock in a transaction dated Monday, November 2nd. The shares were bought at an average cost of $11.83 per share, with a total value of $118,300.00. Following the purchase, the director 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 legal filing with the Securities & Exchange Commission, which is available at this link.

Rush Street Interactive Stock Performance

Shares of NYSE RSI traded down $0.70 during mid-day trading on Monday, hitting $11.41. The stock had a trading volume of 11,501,912 shares, compared to its average volume of 2,655,402. Rush Street Interactive, Inc. has a 1 year low of $11.39 and a 1 year high of $34.53. The business has a 50 day moving average price of $21.52 and a two-hundred day moving average price of $23.74. The firm has a market cap of $2.65 billion, a P/E ratio of 34.59 and a beta of 1.81.

Rush Street Interactive (NYSE:RSI) last announced its quarterly earnings results on Wednesday, October 28th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.02. The business 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 quarter in the prior year, the company posted $0.09 EPS. Equities research analysts predict that Rush Street Interactive, Inc. will post 0.49 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Jefferies Financial Group reaffirmed a “buy” rating on shares of Rush Street Interactive in a research note on Thursday. JPMorgan Chase & Co. reduced their price target on Rush Street Interactive from $22.00 to $18.00 and set a “neutral” rating on the stock in a report on Thursday. Needham & Company LLC reduced their price target on Rush Street Interactive from $36.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday. Wells Fargo & Company lowered their price target on Rush Street Interactive from $36.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Barclays dropped their price objective on Rush Street Interactive from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $26.46.

Institutional Trading of Rush Street Interactive

Several large investors have recently added to or reduced their stakes in the stock. New York State Teachers Retirement System raised its holdings in Rush Street Interactive by 5.2% in the 1st quarter. New York State Teachers Retirement System now owns 8,441 shares of the company’s stock worth $184,000 after purchasing an additional 419 shares in the last quarter. Allworth Financial LP lifted its position in shares of Rush Street Interactive by 38.1% in the 2nd quarter. Allworth Financial LP now owns 1,917 shares of the company’s stock worth $57,000 after purchasing an additional 529 shares during the period. ProShare Advisors LLC lifted its position in shares of Rush Street Interactive by 7.0% in the 3rd quarter. ProShare Advisors LLC now owns 15,523 shares of the company’s stock worth $316,000 after purchasing an additional 1,012 shares during the period. Global Retirement Partners LLC bought a new stake in shares of Rush Street Interactive during the 2nd quarter valued at about $35,000. Finally, CoreCap Advisors LLC bought a new stake in shares of Rush Street Interactive during the 2nd quarter valued at about $54,000. Institutional investors own 24.78% of the company’s stock.

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.