Rush Street Interactive, Inc. (NYSE:RSI) Major Shareholder Gregory A. Carlin Sells 24,910 Shares

Rush Street Interactive, Inc. (NYSE:RSI – Get Rating) major shareholder Gregory A. Carlin sold 24,910 shares of the company’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $6.20, for a total value of $154,442.00. Following the sale, the insider now owns 575,090 shares of the company’s stock, valued at $3,565,558. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Rush Street Interactive Stock Down 4.8 %

NYSE:RSI traded down $0.30 during trading hours on Friday, hitting $5.89. 732,060 shares of the company’s stock traded hands, compared to its average volume of 1,187,006. The firm has a market cap of $1.29 billion, a P/E ratio of -10.59 and a beta of 1.94. Rush Street Interactive, Inc. has a 52 week low of $4.06 and a 52 week high of $21.83. The business’s fifty day simple moving average is $5.30 and its two-hundred day simple moving average is $7.12.

Rush Street Interactive (NYSE:RSI – Get Rating) last issued its quarterly earnings results on Wednesday, May 4th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.03). Rush Street Interactive had a negative return on equity of 16.88% and a negative net margin of 6.68%. The firm had revenue of $134.94 million for the quarter, compared to the consensus estimate of $135.40 million. During the same period last year, the firm earned ($0.08) EPS. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. On average, analysts expect that Rush Street Interactive, Inc. will post -0.45 EPS for the current year.

Institutional Investors Weigh In On Rush Street Interactive

Hedge funds and other institutional investors have recently modified their holdings of the stock. HG Vora Capital Management LLC increased its holdings in Rush Street Interactive by 4.3% during the 1st quarter. HG Vora Capital Management LLC now owns 6,000,000 shares of the company’s stock valued at $43,620,000 after purchasing an additional 250,000 shares during the period. Canyon Capital Advisors LLC boosted its position in shares of Rush Street Interactive by 90.6% in the 1st quarter. Canyon Capital Advisors LLC now owns 5,019,707 shares of the company’s stock worth $36,494,000 after purchasing an additional 2,386,255 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Rush Street Interactive by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 4,755,051 shares of the company’s stock worth $34,569,000 after purchasing an additional 159,172 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Rush Street Interactive by 3,764.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,365,196 shares of the company’s stock worth $31,735,000 after purchasing an additional 4,252,245 shares in the last quarter. Finally, BlackRock Inc. boosted its position in shares of Rush Street Interactive by 0.9% in the 1st quarter. BlackRock Inc. now owns 3,510,602 shares of the company’s stock worth $25,522,000 after purchasing an additional 30,403 shares in the last quarter. Institutional investors own 36.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on RSI. Susquehanna Bancshares initiated coverage on Rush Street Interactive in a research report on Wednesday, July 20th. They set a “neutral” rating and a $6.00 price objective for the company. JMP Securities started coverage on Rush Street Interactive in a research note on Tuesday, June 28th. They issued an “outperform” rating and a $12.00 price target for the company. Wells Fargo & Company raised Rush Street Interactive from an “equal weight” rating to an “overweight” rating and set a $10.00 price target for the company in a research note on Wednesday, April 27th. Finally, Susquehanna assumed coverage on Rush Street Interactive in a research note on Wednesday, July 20th. They issued a “neutral” rating and a $6.00 price target for the company. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Rush Street Interactive has a consensus rating of “Moderate Buy” and a consensus price target of $12.90.

Rush Street Interactive Company Profile

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Rush Street Interactive, Inc operates as an online casino and sports betting company in the United States and 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.