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

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

Rush Street Interactive Stock Performance

RSI opened at $5.89 on Friday. Rush Street Interactive, Inc. has a 52-week low of $4.06 and a 52-week high of $21.83. The firm’s 50-day moving average price is $5.30 and its 200-day moving average price is $7.12.

Rush Street Interactive (NYSE:RSIGet Rating) last announced its earnings results on Wednesday, May 4th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.03). Rush Street Interactive had a negative return on equity of 17.29% and a negative net margin of 7.28%. The business had revenue of $134.94 million for the quarter, compared to analyst estimates of $135.40 million. During the same period in the previous year, the company earned ($0.08) earnings per share. The company’s quarterly revenue was up 20.7% compared to the same quarter last year. On average, analysts expect that Rush Street Interactive, Inc. will post -0.45 EPS for the current year.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Rush Street Interactive

A number of hedge funds and other institutional investors have recently bought and sold shares of RSI. North Star Investment Management Corp. increased its position in Rush Street Interactive by 88.2% during the second quarter. North Star Investment Management Corp. now owns 9,600 shares of the company’s stock worth $45,000 after buying an additional 4,500 shares during the period. Amalgamated Bank acquired a new position in Rush Street Interactive in the first quarter valued at $62,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Rush Street Interactive during the second quarter worth about $70,000. Exos Asset Management LLC boosted its position in shares of Rush Street Interactive by 17.7% in the first quarter. Exos Asset Management LLC now owns 9,989 shares of the company’s stock worth $73,000 after buying an additional 1,500 shares during the period. Finally, Rockefeller Capital Management L.P. purchased a new position in Rush Street Interactive in the fourth quarter valued at about $81,000. 36.45% of the stock is currently owned by hedge funds and other institutional investors.

About Rush Street Interactive

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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.

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