Insider Selling: Rush Street Interactive, Inc. (NYSE:RSI) CFO Sells 15,983 Shares of Stock

Rush Street Interactive, Inc. (NYSE:RSI) CFO Kyle Sauers sold 15,983 shares of the stock in a transaction on Friday, April 19th. The stock was sold at an average price of $6.11, for a total transaction of $97,656.13. Following the sale, the chief financial officer now directly owns 550,174 shares of the company’s stock, valued at approximately $3,361,563.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, March 19th, Kyle Sauers sold 21,362 shares of Rush Street Interactive stock. The stock was sold at an average price of $5.83, for a total transaction of $124,540.46.

Rush Street Interactive Stock Down 2.8 %

RSI stock traded down $0.18 during midday trading on Friday, hitting $5.98. The company’s stock had a trading volume of 1,270,759 shares, compared to its average volume of 1,213,334. Rush Street Interactive, Inc. has a 1 year low of $2.85 and a 1 year high of $7.31. The stock’s 50-day moving average price is $6.13 and its 200 day moving average price is $4.96. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of -22.13 and a beta of 1.71.

Rush Street Interactive (NYSE:RSI) last announced its quarterly earnings results on Wednesday, March 6th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. The firm had revenue of $193.85 million for the quarter, compared to the consensus estimate of $181.50 million. Rush Street Interactive had a negative net margin of 2.65% and a negative return on equity of 28.95%. As a group, equities analysts forecast that Rush Street Interactive, Inc. will post -0.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rush Street Interactive

A number of institutional investors have recently added to or reduced their stakes in RSI. PEAK6 Investments LLC lifted its holdings in shares of Rush Street Interactive by 387.2% during the third quarter. PEAK6 Investments LLC now owns 309,765 shares of the company’s stock valued at $1,431,000 after purchasing an additional 246,189 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Rush Street Interactive by 32.6% during the third quarter. Assenagon Asset Management S.A. now owns 1,836,077 shares of the company’s stock valued at $8,483,000 after purchasing an additional 451,171 shares in the last quarter. Exchange Traded Concepts LLC increased its position in Rush Street Interactive by 23.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 356,323 shares of the company’s stock worth $1,600,000 after purchasing an additional 68,255 shares during the last quarter. Spire Wealth Management bought a new stake in Rush Street Interactive during the third quarter worth approximately $492,000. Finally, EAM Investors LLC purchased a new stake in shares of Rush Street Interactive in the third quarter valued at $997,000. Institutional investors own 24.78% of the company’s stock.

Wall Street Analyst Weigh In

RSI has been the subject of several analyst reports. Oppenheimer raised their target price on shares of Rush Street Interactive from $7.00 to $9.00 and gave the company an “outperform” rating in a research note on Thursday, March 7th. Needham & Company LLC increased their target price on Rush Street Interactive from $6.00 to $8.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Susquehanna reissued a “neutral” rating and issued a $6.00 price objective (up previously from $5.00) on shares of Rush Street Interactive in a report on Monday, March 4th. Craig Hallum raised Rush Street Interactive from a “hold” rating to a “buy” rating and increased their target price for the stock from $7.00 to $8.00 in a report on Friday. Finally, Wells Fargo & Company boosted their price objective on shares of Rush Street Interactive from $7.00 to $8.00 and gave the company an “overweight” rating in a research report on Thursday, March 7th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $7.50.

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.