Insider Selling: Rush Street Interactive, Inc. (NYSE:RSI) CEO Sells $2,185,729.05 in Stock

Rush Street Interactive, Inc. (NYSE:RSI) CEO Richard Todd Schwartz sold 149,605 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $14.61, for a total value of $2,185,729.05. Following the sale, the chief executive officer now directly owns 2,151,648 shares in the company, valued at $31,435,577.28. This trade represents a 6.50 % decrease in their position. The sale was disclosed in a filing with the SEC, 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 transaction 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 transaction 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 transaction of $1,008,000.00.
• On Friday, November 15th, Richard Todd Schwartz sold 103,905 shares of Rush Street Interactive stock. The shares were sold at an average price of $11.02, for a total transaction of $1,145,033.10.

Rush Street Interactive Trading Down 4.1 %

Shares of RSI stock opened at $13.99 on Monday. The company has a market capitalization of $3.16 billion, a P/E ratio of -699.50 and a beta of 1.88. The business’s 50 day moving average is $13.21 and its two-hundred day moving average is $11.09. Rush Street Interactive, Inc. has a twelve month low of $3.56 and a twelve month high of $14.96.

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. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Rush Street Interactive during the 3rd quarter worth $44,000. Point72 DIFC Ltd purchased a new stake in shares of Rush Street Interactive in the third quarter valued at about $70,000. New York State Teachers Retirement System increased its stake in shares of Rush Street Interactive by 17.2% during the third quarter. New York State Teachers Retirement System now owns 6,938 shares of the company’s stock worth $75,000 after acquiring an additional 1,020 shares during the period. Quarry LP raised its holdings in Rush Street Interactive by 15.9% during the second quarter. Quarry LP now owns 8,762 shares of the company’s stock worth $84,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Principal Financial Group Inc. acquired a new stake in Rush Street Interactive in the second quarter valued at about $98,000. 24.78% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RSI has been the topic of a number of research analyst reports. 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. JMP Securities reaffirmed a “market perform” rating on shares of Rush Street Interactive in a research report on Monday, January 6th. Jefferies Financial Group increased their price objective on Rush Street Interactive from $15.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Needham & Company LLC lifted their target price on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $13.50.

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.