Rush Street Interactive, Inc. (NYSE:RSI) CEO Richard Todd Schwartz Sells 123,905 Shares

Rush Street Interactive, Inc. (NYSE:RSI) CEO Richard Todd Schwartz sold 123,905 shares of the company’s stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $13.58, for a total transaction of $1,682,629.90. Following the completion of the transaction, the chief executive officer now owns 1,281,376 shares in the company, valued at approximately $17,401,086.08. The trade was a 8.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 transaction of $956,900.00.
• On Thursday, May 8th, Richard Todd Schwartz sold 106,952 shares of Rush Street Interactive stock. The stock was 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 Stock Down 4.3%

NYSE RSI opened at $13.23 on Friday. Rush Street Interactive, Inc. has a 52 week low of $8.52 and a 52 week high of $16.78. The firm has a market capitalization of $3.03 billion, a P/E ratio of -661.35 and a beta of 1.85. The company has a 50-day moving average price of $12.16 and a 200-day moving average price of $12.87.

Rush Street Interactive (NYSE:RSI) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.09 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $262.41 million during the quarter, compared to analyst estimates of $258.90 million. During the same quarter in the prior year, the firm earned $0.03 EPS. The business’s revenue for the quarter was up 20.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Rush Street Interactive, Inc. will post 0.04 EPS for the current year.

Institutional Investors Weigh In On Rush Street Interactive

Several hedge funds and other institutional investors have recently made changes to their positions in RSI. Barclays PLC increased its position in shares of Rush Street Interactive by 178.6% during the 3rd quarter. Barclays PLC now owns 192,628 shares of the company’s stock valued at $2,090,000 after purchasing an additional 123,486 shares during the last quarter. Legato Capital Management LLC purchased a new stake in shares of Rush Street Interactive during the 4th quarter valued at about $1,897,000. Rhumbline Advisers increased its position in shares of Rush Street Interactive by 2.4% during the 4th quarter. Rhumbline Advisers now owns 103,426 shares of the company’s stock valued at $1,419,000 after purchasing an additional 2,457 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Rush Street Interactive by 10.8% during the 4th quarter. Principal Financial Group Inc. now owns 86,051 shares of the company’s stock valued at $1,181,000 after purchasing an additional 8,393 shares during the last quarter. Finally, New York State Common Retirement Fund raised its stake in Rush Street Interactive by 732.2% during the 4th quarter. New York State Common Retirement Fund now owns 177,627 shares of the company’s stock worth $2,437,000 after acquiring an additional 156,282 shares during the period. Hedge funds and other institutional investors own 24.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Macquarie reiterated an “outperform” rating and issued a $16.00 price target on shares of Rush Street Interactive in a research note on Friday, May 2nd. Susquehanna upped their target price on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company a “positive” rating in a research note on Thursday, May 1st. Benchmark upped their target price on shares of Rush Street Interactive from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Wells Fargo & Company upped their target price on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Finally, Needham & Company LLC restated a “buy” rating and set a $17.00 target price on shares of Rush Street Interactive in a research note on Thursday, May 1st. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target 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.