Rush Street Interactive (NYSE:RSI) Stock Falls 4.4% – Should You Sell?

Rush Street Interactive, Inc. (NYSE:RSI)’s share price dropped 4.4% during mid-day trading on Monday. The company traded as low as $17.92 and last traded at $17.7070. Approximately 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 Analyst Weigh In

Several brokerages have recently issued reports on RSI. Wall Street Zen cut Rush Street Interactive from a “buy” rating to a “hold” rating in a research note on Saturday. Oppenheimer lifted their price target on shares of Rush Street Interactive from $30.00 to $36.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Citigroup reiterated a “market outperform” rating on shares of Rush Street Interactive in a research note on Tuesday, September 22nd. Stifel Nicolaus assumed coverage on shares of Rush Street Interactive in a report on Monday, September 21st. They set a “buy” rating and a $34.00 price target for the company. Finally, JPMorgan Chase & Co. increased their price objective on shares of Rush Street Interactive from $26.00 to $30.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $33.09.

Rush Street Interactive Trading Down 4.2%

The firm’s fifty day moving average price is $23.41 and its 200-day moving average price is $26.16. The firm has a market cap of $4.11 billion, a price-to-earnings ratio of 61.33 and a beta of 1.71.

Rush Street Interactive (NYSE:RSI) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.15 EPS for the quarter, hitting the consensus estimate of $0.15. Rush Street Interactive had a net margin of 2.33% and a return on equity of 18.88%. The firm had revenue of $393.78 million for the quarter, compared to analyst estimates of $367.75 million. During the same period last year, the business earned $0.11 EPS. Rush Street Interactive’s revenue for the quarter was up 46.3% compared to the same quarter last year. On average, sell-side analysts expect that Rush Street Interactive, Inc. will post 0.49 earnings per share for the current year.

Insiders Place Their Bets

In other Rush Street Interactive news, COO Mattias Stetz sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $25.68, for a total transaction of $513,600.00. Following the transaction, the chief operating officer owned 157,874 shares of the company’s stock, valued at approximately $4,054,204.32. This trade represents a 11.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Richard Schwartz sold 111,112 shares of Rush Street Interactive stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $28.02, for a total value of $3,113,358.24. Following the sale, the chief executive officer owned 421,258 shares in the company, valued at $11,803,649.16. This trade represents a 20.87% decrease in their position. 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. Over the last 90 days, insiders have sold 603,998 shares of company stock valued at $14,814,268. 52.89% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Rush Street Interactive

A number of large investors have recently added to or reduced their stakes in the business. First Citizens Bank & Trust Co. purchased a new stake in shares of Rush Street Interactive during the third quarter worth about $212,000. CoreCap Advisors LLC increased its stake in Rush Street Interactive by 629.6% during the third quarter. CoreCap Advisors LLC now owns 13,132 shares of the company’s stock worth $267,000 after acquiring an additional 11,332 shares during the last quarter. Tidal Investments LLC purchased a new stake in Rush Street Interactive during the 2nd quarter worth $1,323,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Rush Street Interactive during the second quarter valued at about $70,000. Finally, Allworth Financial LP boosted its stake in shares of Rush Street Interactive by 38.1% during the 2nd quarter. Allworth Financial LP now owns 1,917 shares of the company’s stock valued at $57,000 after buying an additional 529 shares during the last quarter. 24.78% of the stock is owned by institutional investors and hedge funds.

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 consumer-facing brands include BetRivers and PlaySugarHouse, which offer online casino games, sports wagering, and related digital gaming services where permitted by local regulations.

The company serves customers in multiple regulated markets across the United States and Latin America. Its operations have included online sports betting and casino gaming in U.S.