Rush Street Interactive (NYSE:RSI) CFO Kyle Sauers Sells 23,000 Shares of Company 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 value of $276,000.00. Following the transaction, the chief financial officer directly owned 555,417 shares in the company, valued at $6,665,004. The trade was a 3.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 shares were sold at an average price of $20.31, for a total value 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 value of $610,880.00.

Rush Street Interactive Price Performance

RSI stock opened at $11.87 on Friday. The business has a 50-day moving average price of $20.39 and a 200 day moving average price of $23.59. The company has a market capitalization of $2.75 billion, a P/E ratio of 35.96 and a beta of 1.80. Rush Street Interactive, Inc. has a 1-year low of $11.39 and a 1-year high of $34.53.

Rush Street Interactive (NYSE:RSI) last released its quarterly earnings data on Wednesday, October 28th. The company reported $0.15 earnings per share 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 company had revenue of $385.85 million during the quarter, compared to analyst estimates of $388.05 million. During the same period in the prior year, the firm earned $0.09 earnings per share. The firm’s revenue for the quarter was up 38.8% compared to the same quarter last year. On average, analysts anticipate that Rush Street Interactive, Inc. will post 0.49 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on RSI shares. Oppenheimer dropped their price objective on shares of Rush Street Interactive from $36.00 to $25.00 and set an “outperform” rating on the stock in a research note on Thursday, October 29th. Needham & Company LLC reduced their price objective on shares of Rush Street Interactive from $36.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, October 29th. Wall Street Zen raised shares of Rush Street Interactive from a “hold” rating to a “buy” rating in a research note on Saturday, October 31st. Citigroup restated a “market outperform” rating on shares of Rush Street Interactive in a report on Thursday, October 29th. Finally, Benchmark increased their target price on Rush Street Interactive from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. One research 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 has a consensus rating of “Moderate Buy” and an average price target of $26.46.

Hedge Funds Weigh In On Rush Street Interactive

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Maryland State Retirement & Pension System grew its stake in shares of Rush Street Interactive by 69.6% during the third quarter. Maryland State Retirement & Pension System now owns 25,807 shares of the company’s stock worth $525,000 after acquiring an additional 10,589 shares during the last quarter. Jacobi Capital Management LLC purchased a new position in shares of Rush Street Interactive in the 3rd quarter valued at approximately $35,000. Illinois Municipal Retirement Fund purchased a new position in shares of Rush Street Interactive in the 3rd quarter valued at approximately $1,049,000. Allspring Global Investments Holdings LLC raised its position in shares of Rush Street Interactive by 3.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 31,587 shares of the company’s stock valued at $630,000 after purchasing an additional 1,199 shares during the last quarter. Finally, Covestor Ltd boosted its stake in Rush Street Interactive by 809.3% in the 3rd quarter. Covestor Ltd now owns 3,537 shares of the company’s stock worth $72,000 after purchasing an additional 3,148 shares in the last quarter. Hedge funds and other institutional investors 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 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.