Masi Niccolo De Sells 180,362 Shares of Rush Street Interactive, Inc. (NYSE:RSI) Stock

Rush Street Interactive, Inc. (NYSE:RSI) Director Masi Niccolo De sold 180,362 shares of the firm’s stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $13.70, for a total transaction of $2,470,959.40. Following the transaction, the director now directly owns 1,432,990 shares in the company, valued at $19,631,963. This trade represents a 11.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Masi Niccolo De also recently made the following trade(s):

• On Tuesday, June 17th, Masi Niccolo De sold 224,337 shares of Rush Street Interactive stock. The shares were sold at an average price of $13.92, for a total transaction of $3,122,771.04.
• On Friday, June 13th, Masi Niccolo De sold 171,023 shares of Rush Street Interactive stock. The shares were sold at an average price of $13.37, for a total transaction of $2,286,577.51.

Rush Street Interactive Price Performance

Shares of NYSE:RSI opened at $13.89 on Wednesday. The business’s 50-day moving average is $12.27 and its 200 day moving average is $12.85. Rush Street Interactive, Inc. has a 1 year low of $8.52 and a 1 year high of $16.78. The firm has a market capitalization of $3.18 billion, a P/E ratio of 173.65 and a beta of 1.85.

Rush Street Interactive (NYSE:RSI) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.01. Rush Street Interactive had a net margin of 0.87% and a return on equity of 7.35%. The firm had revenue of $262.41 million for the quarter, compared to the consensus estimate of $258.90 million. During the same quarter in the prior year, the company posted $0.03 earnings per share. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. On average, analysts expect that Rush Street Interactive, Inc. will post 0.04 EPS for the current year.

Hedge Funds Weigh In On Rush Street Interactive

Hedge funds have recently modified their holdings of the stock. Bank of America Corp DE increased its holdings in shares of Rush Street Interactive by 28.0% in the fourth quarter. Bank of America Corp DE now owns 563,769 shares of the company’s stock valued at $7,735,000 after purchasing an additional 123,305 shares during the period. Oppenheimer & Co. Inc. acquired a new position in Rush Street Interactive in the 4th quarter worth approximately $337,000. Two Sigma Investments LP acquired a new position in Rush Street Interactive in the 4th quarter worth approximately $783,000. Deutsche Bank AG increased its holdings in Rush Street Interactive by 233.6% in the 4th quarter. Deutsche Bank AG now owns 125,699 shares of the company’s stock worth $1,725,000 after buying an additional 88,017 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Rush Street Interactive by 18.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 879,563 shares of the company’s stock worth $12,068,000 after buying an additional 137,701 shares during the period. Institutional investors and hedge funds own 24.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Susquehanna lifted their price target on Rush Street Interactive from $14.00 to $15.00 and gave the company a “positive” rating in a report on Thursday, May 1st. Wells Fargo & Company boosted their target price on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and issued a $17.00 target price on shares of Rush Street Interactive in a report on Thursday, May 1st. Macquarie reiterated an “outperform” rating and issued a $16.00 target price on shares of Rush Street Interactive in a report on Friday, May 2nd. Finally, Wall Street Zen upgraded shares of Rush Street Interactive from a “buy” rating to a “strong-buy” rating in a research note on Monday, June 9th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $15.63.

Rush Street Interactive Company Profile

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.