Insider Selling: Rush Street Interactive (NYSE:RSI) CFO Sells $276,000.00 in Stock

Rush Street Interactive, Inc. (NYSE:RSI) CFO Kyle Sauers sold 23,000 shares of the stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $12.00, for a total transaction of $276,000.00. Following the sale, the chief financial officer owned 555,417 shares of the company’s stock, valued at approximately $6,665,004. This trade represents 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 the SEC website. 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 stock was 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 shares were sold at an average price of $26.56, for a total transaction of $610,880.00.

Rush Street Interactive Price Performance

Shares of Rush Street Interactive stock opened at $12.26 on Friday. Rush Street Interactive, Inc. has a one year low of $11.27 and a one year high of $34.53. The stock’s 50-day moving average is $20.11 and its 200 day moving average is $23.56. The firm has a market cap of $2.84 billion, a price-to-earnings ratio of 37.14 and a beta of 1.80.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on RSI shares. Morgan Stanley assumed coverage on shares of Rush Street Interactive in a research report on Monday, October 19th. They set an “equal weight” rating and a $22.00 target price for the company. Citigroup reaffirmed a “market outperform” rating on shares of Rush Street Interactive in a research report on Thursday, October 29th. Citizens Jmp cut their price target on Rush Street Interactive from $34.00 to $24.00 and set a “market outperform” rating for the company in a research note on Thursday, October 29th. Oppenheimer decreased their price objective on Rush Street Interactive from $36.00 to $25.00 and set an “outperform” rating for the company in a report on Thursday, October 29th. Finally, Barclays lowered their price objective on Rush Street Interactive from $24.00 to $23.00 and set an “overweight” rating for the company in a research note on Friday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.46.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RSI. Global Retirement Partners LLC bought a new stake in Rush Street Interactive in the 2nd quarter worth about $35,000. Jacobi Capital Management LLC bought a new position in shares of Rush Street Interactive in the third quarter valued at approximately $35,000. CoreCap Advisors LLC bought a new position in shares of Rush Street Interactive in the second quarter valued at approximately $54,000. Allworth Financial LP bought a new position in shares of Rush Street Interactive in the second quarter valued at approximately $57,000. Finally, Integrated Wealth Concepts LLC purchased a new stake in shares of Rush Street Interactive during the second quarter valued at approximately $70,000. 24.78% of the stock is owned by institutional investors.

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 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.