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 firm’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $14.61, for a total transaction of $2,185,729.05. Following the completion of the transaction, the chief executive officer now directly owns 2,151,648 shares of the company’s stock, valued at approximately $31,435,577.28. This trade represents a 6.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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 stock was sold at an average price of $11.02, for a total value of $1,145,033.10.

Rush Street Interactive Stock Performance

Rush Street Interactive stock traded down $0.60 during mid-day trading on Friday, hitting $13.99. The company’s stock had a trading volume of 1,924,139 shares, compared to its average volume of 1,988,156. The company has a 50 day moving average of $13.21 and a 200-day moving average of $11.07. Rush Street Interactive, Inc. has a one year low of $3.56 and a one year high of $14.96. The stock has a market cap of $3.16 billion, a PE ratio of -699.50 and a beta of 1.88.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Rush Street Interactive in the 3rd quarter valued at about $44,000. Point72 DIFC Ltd purchased a new stake in shares of Rush Street Interactive in the third quarter valued at approximately $70,000. New York State Teachers Retirement System grew its stake in Rush Street Interactive by 17.2% in the third quarter. New York State Teachers Retirement System now owns 6,938 shares of the company’s stock worth $75,000 after purchasing an additional 1,020 shares in the last quarter. Quarry LP increased its holdings in Rush Street Interactive by 15.9% during the 2nd quarter. Quarry LP now owns 8,762 shares of the company’s stock worth $84,000 after purchasing an additional 1,200 shares during the period. Finally, Principal Financial Group Inc. purchased a new position in Rush Street Interactive during the 2nd quarter worth $98,000. 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.