Insider Selling: Rush Street Interactive, Inc. (NYSE:RSI) CEO Sells 40,498 Shares of Stock

Rush Street Interactive, Inc. (NYSE:RSI) CEO Richard Todd Schwartz sold 40,498 shares of Rush Street Interactive stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $10.18, for a total value of $412,269.64. Following the sale, the chief executive officer now owns 1,862,997 shares in the company, valued at $18,965,309.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, August 5th, Richard Todd Schwartz sold 78,593 shares of Rush Street Interactive stock. The stock was sold at an average price of $9.56, for a total value of $751,349.08.

Rush Street Interactive Price Performance

NYSE:RSI opened at $9.04 on Friday. Rush Street Interactive, Inc. has a 12-month low of $3.17 and a 12-month high of $11.59. The firm has a market capitalization of $2.03 billion, a P/E ratio of -53.18 and a beta of 1.79. The business has a 50 day simple moving average of $9.47 and a 200 day simple moving average of $7.59.

Rush Street Interactive (NYSE:RSI) last announced its earnings results on Wednesday, July 31st. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.06. The firm had revenue of $220.38 million for the quarter, compared to the consensus estimate of $201.37 million. Rush Street Interactive had a negative return on equity of 12.65% and a negative net margin of 0.84%. The firm’s revenue for the quarter was up 33.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.08) EPS. Research analysts anticipate that Rush Street Interactive, Inc. will post -0.05 EPS for the current fiscal year.

Institutional Trading of Rush Street Interactive

Hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC raised its stake in Rush Street Interactive by 33.2% during the 4th quarter. SG Americas Securities LLC now owns 15,108 shares of the company’s stock valued at $68,000 after acquiring an additional 3,764 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Rush Street Interactive by 13,627.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,943 shares of the company’s stock valued at $78,000 after acquiring an additional 11,856 shares in the last quarter. Aigen Investment Management LP bought a new stake in Rush Street Interactive during the 4th quarter valued at $90,000. Principal Financial Group Inc. bought a new stake in Rush Street Interactive during the 2nd quarter valued at $98,000. Finally, North Star Investment Management Corp. raised its stake in shares of Rush Street Interactive by 303.9% in the 1st quarter. North Star Investment Management Corp. now owns 20,600 shares of the company’s stock worth $134,000 after buying an additional 15,500 shares in the last quarter. Institutional investors own 24.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Needham & Company LLC lifted their target price on Rush Street Interactive from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Wells Fargo & Company lifted their target price on Rush Street Interactive from $11.00 to $13.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Oppenheimer lifted their target price on Rush Street Interactive from $10.00 to $14.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Finally, Craig Hallum boosted their price objective on Rush Street Interactive from $11.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.17.

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.