Rush Street Interactive, Inc. (NYSE:RSI) CEO Sells $1,268,450.72 in Stock

Rush Street Interactive, Inc. (NYSE:RSI) CEO Richard Todd Schwartz sold 106,952 shares of the firm’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $11.86, for a total value of $1,268,450.72. Following the sale, the chief executive officer now owns 1,492,234 shares in the company, valued at $17,697,895.24. This trade represents a 6.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Tuesday, April 8th, Richard Todd Schwartz sold 193,905 shares of Rush Street Interactive stock. The stock was sold at an average price of $10.63, for a total value of $2,061,210.15.
• On Monday, March 10th, Richard Todd Schwartz sold 109,567 shares of Rush Street Interactive stock. The stock was sold at an average price of $9.85, for a total value of $1,079,234.95.
• 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 value of $1,904,129.10.

Rush Street Interactive Stock Down 0.2%

NYSE:RSI opened at $11.76 on Monday. The stock’s fifty day moving average is $11.24 and its two-hundred day moving average is $12.71. Rush Street Interactive, Inc. has a 52 week low of $8.29 and a 52 week high of $16.78. The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of -588.00 and a beta of 1.88.

Rush Street Interactive (NYSE:RSI) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. Rush Street Interactive had a negative return on equity of 3.73% and a negative net margin of 0.16%. The company had revenue of $262.41 million for the quarter, compared to analysts’ expectations of $258.90 million. During the same period in the prior year, the firm earned $0.03 earnings per share. The firm’s revenue was up 20.7% compared to the same quarter last year. On average, sell-side analysts expect that Rush Street Interactive, Inc. will post 0.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Legato Capital Management LLC purchased a new stake in shares of Rush Street Interactive during the fourth quarter worth $1,897,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Rush Street Interactive during the fourth quarter worth $337,000. Charles Schwab Investment Management Inc. increased its position in shares of Rush Street Interactive by 18.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 879,563 shares of the company’s stock worth $12,068,000 after acquiring an additional 137,701 shares during the period. JPMorgan Chase & Co. increased its position in shares of Rush Street Interactive by 155.6% during the third quarter. JPMorgan Chase & Co. now owns 265,412 shares of the company’s stock worth $2,880,000 after acquiring an additional 161,568 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Rush Street Interactive during the fourth quarter worth $1,282,000. 24.78% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on RSI shares. Wells Fargo & Company lifted their price objective on Rush Street Interactive from $14.00 to $15.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. Needham & Company LLC reissued a “buy” rating and issued a $17.00 target price on shares of Rush Street Interactive in a research note on Thursday, May 1st. Susquehanna raised their target price on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock a “positive” rating in a research note on Thursday, May 1st. Jefferies Financial Group raised their target price on shares of Rush Street Interactive from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Finally, Macquarie reissued an “outperform” rating and issued a $16.00 target price on shares of Rush Street Interactive in a research note on Friday, May 2nd. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Rush Street Interactive currently has a consensus rating of “Moderate Buy” and an average target price of $15.63.

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.