Rush Street Interactive (NYSE:RSI) Shares Down 4.4% – What’s Next?

Rush Street Interactive, Inc. (NYSE:RSI)’s stock price traded down 4.4% on Monday. The stock traded as low as $17.92 and last traded at $17.7070. 142,035 shares traded hands during trading, a decline of 94% from the average daily volume of 2,466,716 shares. The stock had previously closed at $18.52.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RSI. Stifel Nicolaus began coverage on shares of Rush Street Interactive in a research note on Monday, September 21st. They issued a “buy” rating and a $34.00 target price on the stock. Morgan Stanley assumed coverage on shares of Rush Street Interactive in a research report on Monday. They set an “equal weight” rating and a $22.00 price target for the company. Citizens Jmp reissued a “market outperform” rating and set a $34.00 price target on shares of Rush Street Interactive in a research note on Tuesday, September 22nd. Citigroup restated a “market outperform” rating on shares of Rush Street Interactive in a report on Tuesday, September 22nd. Finally, Susquehanna cut their price objective on shares of Rush Street Interactive from $37.00 to $27.00 and set a “positive” rating on the stock in a report on Friday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $32.36.

Rush Street Interactive Stock Performance

The firm has a market capitalization of $4.14 billion, a P/E ratio of 61.60 and a beta of 1.71. The company has a 50-day moving average price of $23.13 and a 200-day moving average price of $26.10.

Rush Street Interactive (NYSE:RSI) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.15 EPS for the quarter, hitting analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $367.75 million. During the same period in the previous year, the firm earned $0.11 earnings per share. The firm’s quarterly revenue was up 46.3% compared to the same quarter last year. Equities analysts predict that Rush Street Interactive, Inc. will post 0.49 EPS for the current year.

Insider Transactions at Rush Street Interactive

In related news, COO Mattias Stetz sold 20,000 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $25.68, for a total value of $513,600.00. Following the sale, the chief operating officer directly owned 157,874 shares in the company, valued at $4,054,204.32. This trade represents a 11.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Richard Schwartz sold 111,112 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $28.02, for a total transaction of $3,113,358.24. Following the completion of the sale, the chief executive officer owned 421,258 shares in the company, valued at $11,803,649.16. This represents a 20.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 603,998 shares of company stock worth $14,814,268. 52.89% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of RSI. BlackRock Inc. bought a new position in Rush Street Interactive during the second quarter worth about $448,435,000. Arrowstreet Capital Limited Partnership grew its stake in Rush Street Interactive by 84.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,764,173 shares of the company’s stock valued at $60,121,000 after acquiring an additional 1,267,622 shares during the period. Renaissance Technologies LLC grew its stake in Rush Street Interactive by 15.9% in the first quarter. Renaissance Technologies LLC now owns 2,285,000 shares of the company’s stock valued at $49,699,000 after acquiring an additional 312,700 shares during the period. William Blair Investment Management LLC bought a new stake in shares of Rush Street Interactive in the second quarter worth about $48,647,000. Finally, Bank of America Corp DE bought a new stake in shares of Rush Street Interactive in the second quarter worth about $34,015,000. 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.