Insider Selling: Rush Street Interactive (NYSE:RSI) CEO Sells 134,148 Shares of Stock

Rush Street Interactive, Inc. (NYSE:RSI) CEO Richard Todd Schwartz sold 134,148 shares of the firm’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $18.37, for a total transaction of $2,464,298.76. Following the sale, the chief executive officer owned 514,578 shares of the company’s stock, valued at approximately $9,452,797.86. The trade was a 20.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Richard Todd Schwartz also recently made the following trade(s):

• On Tuesday, December 9th, Richard Todd Schwartz sold 59,757 shares of Rush Street Interactive stock. The shares were sold at an average price of $18.82, for a total transaction of $1,124,626.74.
• On Tuesday, November 11th, Richard Todd Schwartz sold 72,446 shares of Rush Street Interactive stock. The stock was sold at an average price of $17.41, for a total transaction of $1,261,284.86.
• On Monday, November 10th, Richard Todd Schwartz sold 121,459 shares of Rush Street Interactive stock. The shares were sold at an average price of $17.52, for a total transaction of $2,127,961.68.
• On Thursday, October 9th, Richard Todd Schwartz sold 96,987 shares of Rush Street Interactive stock. The shares were sold at an average price of $18.79, for a total value of $1,822,385.73.
• On Wednesday, October 8th, Richard Todd Schwartz sold 96,918 shares of Rush Street Interactive stock. The stock was sold at an average price of $18.20, for a total value of $1,763,907.60.

Rush Street Interactive Trading Up 5.1%

RSI stock traded up $0.93 during midday trading on Tuesday, hitting $19.19. 1,818,512 shares of the company’s stock were exchanged, compared to its average volume of 1,635,198. Rush Street Interactive, Inc. has a 1-year low of $9.54 and a 1-year high of $22.65. The stock has a market capitalization of $4.40 billion, a PE ratio of 76.75 and a beta of 1.65. The business has a 50-day simple moving average of $18.21 and a two-hundred day simple moving average of $17.57.

Rush Street Interactive (NYSE:RSI) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.07 by $0.02. The business had revenue of $277.91 million for the quarter, compared to analyst estimates of $264.60 million. Rush Street Interactive had a return on equity of 17.11% and a net margin of 2.83%.The company’s quarterly revenue was up 19.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.05 EPS. As a group, research analysts expect that Rush Street Interactive, Inc. will post 0.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Rush Street Interactive

Hedge funds have recently bought and sold shares of the stock. Concord Wealth Partners purchased a new position in shares of Rush Street Interactive in the 3rd quarter valued at about $41,000. Farther Finance Advisors LLC acquired a new stake in Rush Street Interactive in the second quarter valued at approximately $42,000. Summit Securities Group LLC purchased a new position in Rush Street Interactive in the first quarter worth approximately $33,000. Osaic Holdings Inc. lifted its stake in Rush Street Interactive by 62.2% in the second quarter. Osaic Holdings Inc. now owns 4,872 shares of the company’s stock worth $73,000 after acquiring an additional 1,868 shares during the last quarter. Finally, Pacer Advisors Inc. grew its holdings in Rush Street Interactive by 57.2% during the 3rd quarter. Pacer Advisors Inc. now owns 5,027 shares of the company’s stock worth $103,000 after acquiring an additional 1,830 shares in the last quarter. Institutional investors and hedge funds own 24.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RSI. Benchmark lifted their price target on shares of Rush Street Interactive from $20.00 to $24.00 and gave the company a “buy” rating in a research report on Monday, September 8th. Craig Hallum restated a “buy” rating on shares of Rush Street Interactive in a report on Tuesday. Needham & Company LLC lifted their target price on shares of Rush Street Interactive from $21.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Oppenheimer reissued an “outperform” rating and issued a $24.00 target price on shares of Rush Street Interactive in a research report on Thursday, October 30th. Finally, Zacks Research upgraded Rush Street Interactive from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Rush Street Interactive currently has an average rating of “Moderate Buy” and a consensus target price of $20.75.

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.