Rush Street Interactive (NYSE:RSI) Stock Price Down 5.1% – Time to Sell?

Shares of Rush Street Interactive, Inc. (NYSE:RSI) fell 5.1% during mid-day trading on Monday . The company traded as low as $22.28 and last traded at $22.1150. 572,951 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 2,332,907 shares. The stock had previously closed at $23.30.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on RSI shares. Needham & Company LLC raised their price target on Rush Street Interactive from $33.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, July 30th. New Street Research set a $35.00 price objective on shares of Rush Street Interactive in a report on Thursday, July 23rd. Wall Street Zen raised shares of Rush Street Interactive from a “hold” rating to a “buy” rating in a research note on Sunday, September 13th. Wells Fargo & Company boosted their price target on shares of Rush Street Interactive from $35.00 to $36.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Finally, Citizens Jmp upped their price target on shares of Rush Street Interactive from $33.00 to $34.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $35.22.

Rush Street Interactive Stock Down 4.0%

The business has a 50-day moving average of $27.62 and a 200-day moving average of $26.31. The stock has a market cap of $5.18 billion, a price-to-earnings ratio of 77.13 and a beta of 1.51.

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 company had revenue of $393.78 million for the quarter, compared to analyst estimates of $367.75 million. During the same quarter in the prior year, the business posted $0.11 EPS. Rush Street Interactive’s quarterly revenue was up 46.3% on a year-over-year basis. Equities analysts anticipate that Rush Street Interactive, Inc. will post 0.49 earnings per share for the current year.

Insider Buying and Selling at Rush Street Interactive

In related news, COO Mattias Stetz sold 20,000 shares of the firm’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $25.68, for a total value of $513,600.00. Following the completion of the transaction, the chief operating officer directly owned 157,874 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Richard Schwartz sold 111,110 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $25.69, for a total transaction of $2,854,415.90. Following the transaction, the chief executive officer directly owned 421,258 shares of the company’s stock, valued at $10,822,118.02. The trade was 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. Insiders have sold 614,000 shares of company stock valued at $17,394,492 in the last 90 days. 52.89% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Rush Street Interactive

Several institutional investors have recently bought and sold shares of RSI. Global Retirement Partners LLC bought a new position in shares of Rush Street Interactive in the second quarter worth about $35,000. CoreCap Advisors LLC bought a new position in shares of Rush Street Interactive in the 2nd quarter valued at about $54,000. Allworth Financial LP bought a new stake in shares of Rush Street Interactive during the second quarter worth approximately $57,000. Integrated Wealth Concepts LLC acquired a new position in Rush Street Interactive in the second quarter valued at approximately $70,000. Finally, Quantbot Technologies LP bought a new position in Rush Street Interactive in the second quarter valued at approximately $98,000. Institutional investors own 24.78% of the company’s stock.

Rush Street Interactive Company Profile

Rush Street Interactive, Inc (NYSE: RSI) is an online gaming and sports betting company that operates digital casino, sportsbook and related gaming platforms. Its consumer-facing brands include BetRivers and PlaySugarHouse, which offer mobile and online wagering products such as sports betting, internet casino games and, in certain markets, online poker.

The company operates primarily in regulated markets across the United States and Canada, as well as select Latin American jurisdictions.