Insider Selling: Rush Street Interactive, Inc. (NYSE:RSI) CEO Sells 149,605 Shares of Stock

Rush Street Interactive, Inc. (NYSE:RSI) CEO Richard Todd Schwartz sold 149,605 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $14.61, for a total transaction of $2,185,729.05. Following the completion of the sale, the chief executive officer now directly owns 2,151,648 shares of the company’s stock, valued at $31,435,577.28. The trade was a 6.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Friday, January 10th, Richard Todd Schwartz sold 33,142 shares of Rush Street Interactive stock. The shares were sold at an average price of $13.98, for a total value of $463,325.16.
• On Monday, December 9th, Richard Todd Schwartz sold 45,256 shares of Rush Street Interactive stock. The stock was sold at an average price of $13.51, for a total value of $611,408.56.
• On Monday, November 18th, Richard Todd Schwartz sold 90,000 shares of Rush Street Interactive stock. The shares were sold at an average price of $11.20, for a total value of $1,008,000.00.
• On Friday, November 15th, Richard Todd Schwartz sold 103,905 shares of Rush Street Interactive stock. The stock was sold at an average price of $11.02, for a total value of $1,145,033.10.

Rush Street Interactive Stock Performance

NYSE:RSI opened at $13.99 on Friday. The stock has a 50-day simple moving average of $13.21 and a 200 day simple moving average of $11.08. Rush Street Interactive, Inc. has a one year low of $3.56 and a one year high of $14.96. The company has a market capitalization of $3.16 billion, a price-to-earnings ratio of -699.50 and a beta of 1.88.

Institutional Investors Weigh In On Rush Street Interactive

A number of institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in Rush Street Interactive by 5.6% in the third quarter. Geode Capital Management LLC now owns 1,736,259 shares of the company’s stock worth $18,843,000 after purchasing an additional 92,314 shares during the period. State Street Corp lifted its position in shares of Rush Street Interactive by 3.6% in the 3rd quarter. State Street Corp now owns 1,612,892 shares of the company’s stock worth $17,500,000 after buying an additional 55,697 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Rush Street Interactive by 47.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,504,200 shares of the company’s stock valued at $14,425,000 after buying an additional 482,872 shares during the period. Federated Hermes Inc. grew its position in shares of Rush Street Interactive by 10.9% during the 2nd quarter. Federated Hermes Inc. now owns 1,329,825 shares of the company’s stock valued at $12,753,000 after buying an additional 130,217 shares during the last quarter. Finally, Driehaus Capital Management LLC acquired a new stake in Rush Street Interactive during the second quarter worth about $10,605,000. 24.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on RSI. Needham & Company LLC lifted their price objective on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. JMP Securities reissued a “market perform” rating on shares of Rush Street Interactive in a research report on Monday, January 6th. Craig Hallum lifted their target price on Rush Street Interactive from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Jefferies Financial Group raised their price objective on Rush Street Interactive from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $12.43.

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.