Insider Selling: Rush Street Interactive, Inc. (NYSE:RSI) CEO Sells 109,567 Shares of Stock

Rush Street Interactive, Inc. (NYSE:RSI) CEO Richard Todd Schwartz sold 109,567 shares of Rush Street Interactive stock in a transaction on Monday, March 10th. The stock was sold at an average price of $9.85, for a total transaction of $1,079,234.95. Following the transaction, the chief executive officer now directly owns 2,082,376 shares of the company’s stock, valued at approximately $20,511,403.60. This trade represents a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Monday, February 10th, Richard Todd Schwartz sold 133,905 shares of Rush Street Interactive stock. The stock was sold at an average price of $14.22, for a total transaction of $1,904,129.10.
• On Monday, January 13th, Richard Todd Schwartz sold 4,419 shares of Rush Street Interactive stock. The stock was sold at an average price of $13.75, for a total transaction of $60,761.25.
• On Friday, January 10th, Richard Todd Schwartz sold 33,142 shares of Rush Street Interactive stock. The stock was sold at an average price of $13.98, for a total transaction of $463,325.16.
• On Wednesday, January 8th, Richard Todd Schwartz sold 149,605 shares of Rush Street Interactive stock. The stock was sold at an average price of $14.61, for a total value of $2,185,729.05.

Rush Street Interactive Stock Up 1.3 %

RSI stock opened at $10.09 on Wednesday. The company has a market cap of $2.30 billion, a PE ratio of -504.25 and a beta of 1.92. The business has a 50-day simple moving average of $13.95 and a 200 day simple moving average of $12.38. Rush Street Interactive, Inc. has a 52 week low of $5.71 and a 52 week high of $16.78.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RSI. Price T Rowe Associates Inc. MD raised its stake in Rush Street Interactive by 7,958.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,029,239 shares of the company’s stock valued at $27,843,000 after purchasing an additional 2,004,059 shares in the last quarter. Topline Capital Management LLC bought a new position in Rush Street Interactive in the fourth quarter valued at about $24,851,000. William Blair Investment Management LLC bought a new position in Rush Street Interactive in the fourth quarter valued at about $21,635,000. Nicholas Investment Partners LP bought a new position in Rush Street Interactive in the fourth quarter valued at about $14,970,000. Finally, Vanguard Group Inc. grew its position in Rush Street Interactive by 14.0% in the fourth quarter. Vanguard Group Inc. now owns 8,596,434 shares of the company’s stock valued at $117,943,000 after acquiring an additional 1,056,583 shares during the last quarter. Institutional investors and hedge funds own 24.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and set a $17.00 target price on shares of Rush Street Interactive in a report on Thursday, February 27th. Susquehanna raised Rush Street Interactive from a “hold” rating to a “strong-buy” rating in a report on Friday, February 28th. Wells Fargo & Company lifted their target price on Rush Street Interactive from $14.00 to $15.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. Jefferies Financial Group lifted their target price on Rush Street Interactive from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Finally, JMP Securities reissued a “market perform” rating on shares of Rush Street Interactive in a report on Monday, January 6th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $15.50.

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.