Insider Selling: Rush Street Interactive, Inc. (NYSE:RSI) CEO Sells 23,737 Shares of Stock

Rush Street Interactive, Inc. (NYSE:RSI) CEO Richard Todd Schwartz sold 23,737 shares of the firm’s stock in a transaction on Friday, April 19th. The stock was sold at an average price of $6.11, for a total transaction of $145,033.07. Following the sale, the chief executive officer now owns 2,062,997 shares in the company, valued at $12,604,911.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, April 1st, Richard Todd Schwartz sold 101,951 shares of Rush Street Interactive stock. The stock was sold at an average price of $6.78, for a total transaction of $691,227.78.
• On Tuesday, March 19th, Richard Todd Schwartz sold 38,687 shares of Rush Street Interactive stock. The stock was sold at an average price of $5.83, for a total transaction of $225,545.21.

Rush Street Interactive Stock Down 2.8 %

Shares of RSI stock traded down $0.18 on Friday, reaching $5.98. The company’s stock had a trading volume of 1,270,759 shares, compared to its average volume of 1,213,334. The company has a market capitalization of $1.33 billion, a P/E ratio of -22.13 and a beta of 1.71. Rush Street Interactive, Inc. has a 12-month low of $2.85 and a 12-month high of $7.31. The stock’s 50 day simple moving average is $6.13 and its 200-day simple moving average is $4.96.

Rush Street Interactive (NYSE:RSI) last released its quarterly earnings results on Wednesday, March 6th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.01. The firm had revenue of $193.85 million for the quarter, compared to analysts’ expectations of $181.50 million. Rush Street Interactive had a negative return on equity of 28.95% and a negative net margin of 2.65%. Research analysts expect that Rush Street Interactive, Inc. will post -0.22 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Wells Fargo & Company boosted their target price on shares of Rush Street Interactive from $7.00 to $8.00 and gave the company an “overweight” rating in a research note on Thursday, March 7th. Oppenheimer upped their price target on shares of Rush Street Interactive from $7.00 to $9.00 and gave the company an “outperform” rating in a research note on Thursday, March 7th. JMP Securities reissued a “market perform” rating on shares of Rush Street Interactive in a report on Friday, March 8th. Needham & Company LLC raised their price target on Rush Street Interactive from $6.00 to $8.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. Finally, Susquehanna reiterated a “neutral” rating and set a $6.00 price objective (up from $5.00) on shares of Rush Street Interactive in a research note on Monday, March 4th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $7.50.

Institutional Investors Weigh In On Rush Street Interactive

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its stake in shares of Rush Street Interactive by 3,764.7% during the first quarter. Goldman Sachs Group Inc. now owns 4,365,196 shares of the company’s stock valued at $31,735,000 after acquiring an additional 4,252,245 shares during the last quarter. Canyon Capital Advisors LLC grew its position in shares of Rush Street Interactive by 66.5% in the 1st quarter. Canyon Capital Advisors LLC now owns 5,735,284 shares of the company’s stock worth $17,837,000 after buying an additional 2,289,730 shares during the last quarter. FMR LLC increased its stake in shares of Rush Street Interactive by 4,395.9% during the third quarter. FMR LLC now owns 1,888,355 shares of the company’s stock valued at $8,724,000 after buying an additional 1,846,353 shares during the period. Morgan Stanley raised its holdings in shares of Rush Street Interactive by 459.9% during the fourth quarter. Morgan Stanley now owns 1,305,257 shares of the company’s stock valued at $4,686,000 after acquiring an additional 1,072,117 shares in the last quarter. Finally, Norges Bank bought a new stake in Rush Street Interactive during the 4th quarter valued at approximately $3,831,000. 24.78% of the stock is currently owned by institutional investors.

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.