Insider Selling: Rush Street Interactive, Inc. (NYSE:RSI) CEO Sells 103,905 Shares of Stock

Rush Street Interactive, Inc. (NYSE:RSI) CEO Richard Todd Schwartz sold 103,905 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $11.02, for a total value of $1,145,033.10. Following the completion of the transaction, the chief executive officer now directly owns 1,703,578 shares in the company, valued at approximately $18,773,429.56. This trade represents a 5.75 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, November 18th, Richard Todd Schwartz sold 90,000 shares of Rush Street Interactive stock. The stock was sold at an average price of $11.20, for a total value of $1,008,000.00.

Rush Street Interactive Trading Up 5.2 %

Shares of NYSE RSI traded up $0.58 during trading on Tuesday, reaching $11.84. 1,971,119 shares of the company traded hands, compared to its average volume of 1,675,732. The firm’s fifty day simple moving average is $10.72 and its 200 day simple moving average is $9.74. The stock has a market cap of $2.67 billion, a P/E ratio of -592.00 and a beta of 1.78. Rush Street Interactive, Inc. has a 12-month low of $3.56 and a 12-month high of $12.46.

Analyst Upgrades and Downgrades

RSI has been the topic of several recent research reports. Craig Hallum increased their target price on Rush Street Interactive from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Needham & Company LLC increased their target price on Rush Street Interactive from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Jefferies Financial Group increased their target price on Rush Street Interactive from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Wells Fargo & Company increased their target price on Rush Street Interactive from $11.00 to $13.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, Oppenheimer increased their target price on Rush Street Interactive from $10.00 to $14.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Rush Street Interactive presently has an average rating of “Moderate Buy” and an average price target of $12.43.

Hedge Funds Weigh In On Rush Street Interactive

A number of institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its position in shares of Rush Street Interactive by 5.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,736,259 shares of the company’s stock valued at $18,843,000 after acquiring an additional 92,314 shares during the period. Barclays PLC boosted its holdings in Rush Street Interactive by 178.6% in the 3rd quarter. Barclays PLC now owns 192,628 shares of the company’s stock worth $2,090,000 after buying an additional 123,486 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Rush Street Interactive during the 3rd quarter worth approximately $576,000. XTX Topco Ltd boosted its holdings in shares of Rush Street Interactive by 53.7% during the 3rd quarter. XTX Topco Ltd now owns 63,958 shares of the company’s stock worth $694,000 after purchasing an additional 22,339 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of Rush Street Interactive by 3.6% during the 3rd quarter. State Street Corp now owns 1,612,892 shares of the company’s stock worth $17,500,000 after purchasing an additional 55,697 shares during the last quarter. Hedge funds and other institutional investors own 24.78% of the company’s stock.

About Rush Street Interactive

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.