Rush Street Interactive, Inc. (NYSE:RSI) CEO Sells $1,682,629.90 in Stock

Rush Street Interactive, Inc. (NYSE:RSI) CEO Richard Todd Schwartz sold 123,905 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $13.58, for a total value of $1,682,629.90. Following the sale, the chief executive officer now directly owns 1,281,376 shares of the company’s stock, valued at $17,401,086.08. The trade was a 8.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Tuesday, June 10th, Richard Todd Schwartz sold 70,000 shares of Rush Street Interactive stock. The stock was sold at an average price of $13.67, for a total value of $956,900.00.
• On Thursday, May 8th, Richard Todd Schwartz sold 106,952 shares of Rush Street Interactive stock. The shares were sold at an average price of $11.86, for a total transaction of $1,268,450.72.
• 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 transaction of $2,061,210.15.

Rush Street Interactive Trading Up 1.0%

Rush Street Interactive stock opened at $13.85 on Thursday. The firm’s 50 day simple moving average is $12.04 and its 200 day simple moving average is $12.88. Rush Street Interactive, Inc. has a 1-year low of $8.52 and a 1-year high of $16.78. The firm has a market capitalization of $3.17 billion, a PE ratio of -692.70 and a beta of 1.85.

Rush Street Interactive (NYSE:RSI) last announced its earnings results on Wednesday, April 30th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. Rush Street Interactive had a negative net margin of 0.16% and a negative return on equity of 3.73%. The business had revenue of $262.41 million for the quarter, compared to the consensus estimate of $258.90 million. During the same period last year, the firm posted $0.03 earnings per share. Rush Street Interactive’s quarterly revenue was up 20.7% on a year-over-year basis. Research analysts forecast that Rush Street Interactive, Inc. will post 0.04 earnings per share for the current year.

Institutional Investors Weigh In On Rush Street Interactive

Institutional investors and hedge funds have recently bought and sold shares of the business. Pacer Advisors Inc. lifted its position in Rush Street Interactive by 94.7% during the 1st quarter. Pacer Advisors Inc. now owns 2,533 shares of the company’s stock valued at $27,000 after acquiring an additional 1,232 shares during the period. Summit Securities Group LLC purchased a new stake in shares of Rush Street Interactive during the first quarter valued at $33,000. Heck Capital Advisors LLC bought a new stake in Rush Street Interactive in the 4th quarter worth approximately $34,000. GAMMA Investing LLC increased its position in Rush Street Interactive by 1,687.6% during the first quarter. GAMMA Investing LLC now owns 6,507 shares of the company’s stock valued at $70,000 after acquiring an additional 6,143 shares during the last quarter. Finally, WealthTrak Capital Management LLC purchased a new position in shares of Rush Street Interactive in the fourth quarter worth approximately $71,000. Hedge funds and other institutional investors own 24.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on RSI shares. Wells Fargo & Company raised their price target on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Macquarie reiterated an “outperform” rating and set a $16.00 price target on shares of Rush Street Interactive in a research note on Friday, May 2nd. Benchmark boosted their price objective on Rush Street Interactive from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Wall Street Zen upgraded shares of Rush Street Interactive from a “buy” rating to a “strong-buy” rating in a research note on Monday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $17.00 price target on shares of Rush Street Interactive in a research report on Thursday, May 1st. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “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.