Insider Selling: Rush Street Interactive, Inc. (NYSE:RSI) CEO Sells 90,000 Shares of Stock

Rush Street Interactive, Inc. (NYSE:RSI) CEO Richard Todd Schwartz sold 90,000 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $11.20, for a total transaction of $1,008,000.00. Following the sale, the chief executive officer now directly owns 1,613,578 shares in the company, valued at $18,072,073.60. This trade represents a 5.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• 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 transaction of $1,145,033.10.

Rush Street Interactive Price Performance

RSI stock opened at $13.37 on Friday. Rush Street Interactive, Inc. has a 1 year low of $3.56 and a 1 year high of $13.71. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of -668.25 and a beta of 1.78. The company has a 50 day simple moving average of $10.89 and a 200 day simple moving average of $9.81.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Rush Street Interactive by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 5,481,219 shares of the company’s stock worth $35,683,000 after acquiring an additional 85,736 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Rush Street Interactive during the second quarter valued at about $1,565,000. Acadian Asset Management LLC bought a new stake in shares of Rush Street Interactive during the second quarter worth about $587,000. GSA Capital Partners LLP increased its stake in shares of Rush Street Interactive by 42.6% in the third quarter. GSA Capital Partners LLP now owns 279,367 shares of the company’s stock valued at $3,031,000 after buying an additional 83,436 shares during the period. Finally, Driehaus Capital Management LLC bought a new position in Rush Street Interactive in the 2nd quarter valued at approximately $10,605,000. 24.78% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on RSI. Oppenheimer lifted their price target on Rush Street Interactive from $10.00 to $14.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Wells Fargo & Company boosted their price objective on Rush Street Interactive from $11.00 to $13.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Needham & Company LLC lifted their target price on Rush Street Interactive from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Jefferies Financial Group boosted their price target on Rush Street Interactive from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Craig Hallum raised their price target 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. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $12.43.

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.