Rush Street Interactive (NYSE:RSI) Shares Down 7.1% Following Insider Selling

Posted by Defense World Staff on Oct 26th, 2023

Rush Street Interactive, Inc. (NYSE:RSI – Get Free Report)’s stock price traded down 7.1% during trading on Wednesday following insider selling activity. The stock traded as low as $3.54 and last traded at $3.55. 117,460 shares traded hands during trading, a decline of 79% from the average session volume of 558,199 shares. The stock had previously closed at $3.82.

Specifically, COO Mattias Stetz sold 6,527 shares of the company’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $4.56, for a total transaction of $29,763.12. Following the transaction, the chief operating officer now directly owns 637,484 shares in the company, valued at $2,906,927.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Richard Todd Schwartz sold 57,992 shares of the company’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $4.56, for a total transaction of $264,443.52. Following the sale, the chief executive officer now owns 1,990,666 shares of the company’s stock, valued at $9,077,436.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Mattias Stetz sold 6,527 shares of the company’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $4.56, for a total value of $29,763.12. Following the sale, the chief operating officer now directly owns 637,484 shares in the company, valued at approximately $2,906,927.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 103,128 shares of company stock worth $458,860. Insiders own 56.96% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. JMP Securities reaffirmed a “market outperform” rating and set a $7.00 price objective on shares of Rush Street Interactive in a research report on Tuesday, September 5th. Needham & Company LLC reissued a “buy” rating and issued a $6.00 target price on shares of Rush Street Interactive in a report on Thursday, August 3rd. Finally, Susquehanna increased their target price on Rush Street Interactive from $4.75 to $5.00 and gave the company a “positive” rating in a report on Thursday, July 20th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Rush Street Interactive currently has a consensus rating of “Buy” and an average target price of $7.00.

Check Out Our Latest Analysis on Rush Street Interactive

Rush Street Interactive Stock Down 11.5 %

The stock has a market cap of $750.39 million, a PE ratio of -7.86 and a beta of 1.56. The firm has a fifty day moving average of $4.43 and a 200 day moving average of $3.71.

Rush Street Interactive (NYSE:RSI – Get Free Report) last posted its earnings results on Wednesday, August 2nd. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.03. The firm had revenue of $165.06 million for the quarter, compared to analyst estimates of $158.97 million. Rush Street Interactive had a negative return on equity of 24.15% and a negative net margin of 4.37%. On average, equities research analysts forecast that Rush Street Interactive, Inc. will post -0.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Rush Street Interactive

Hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in shares of Rush Street Interactive during the third quarter worth about $52,000. AdvisorNet Financial Inc boosted its stake in shares of Rush Street Interactive by 29.9% during the third quarter. AdvisorNet Financial Inc now owns 32,704 shares of the company’s stock worth $151,000 after buying an additional 7,525 shares during the period. Grey Street Capital LLC boosted its stake in shares of Rush Street Interactive by 104.6% during the third quarter. Grey Street Capital LLC now owns 617,729 shares of the company’s stock worth $2,854,000 after buying an additional 315,818 shares during the period. Nuveen Asset Management LLC boosted its stake in shares of Rush Street Interactive by 47.0% during the second quarter. Nuveen Asset Management LLC now owns 320,053 shares of the company’s stock worth $999,000 after buying an additional 102,390 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in shares of Rush Street Interactive by 85.7% during the second quarter. Wells Fargo & Company MN now owns 31,329 shares of the company’s stock worth $98,000 after buying an additional 14,456 shares during the period. Hedge funds and other institutional investors own 20.97% of the company’s stock.

Rush Street Interactive Company Profile

(Get Free Report)

Rush Street Interactive, Inc operates as an online casino and sports betting company in the United States, Canada, Latin America, and other countries. 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.