Insider Selling: Rush Street Interactive, Inc. (NYSE:RSI) COO Sells 17,542 Shares of Stock

Rush Street Interactive, Inc. (NYSE:RSI) COO Mattias Stetz sold 17,542 shares of Rush Street Interactive stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.04, for a total transaction of $246,289.68. Following the sale, the chief operating officer now directly owns 532,942 shares in the company, valued at $7,482,505.68. The trade was a 3.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Mattias Stetz also recently made the following trade(s):

• On Monday, December 2nd, Mattias Stetz sold 25,000 shares of Rush Street Interactive stock. The stock was sold at an average price of $14.50, for a total transaction of $362,500.00.
• On Wednesday, November 20th, Mattias Stetz sold 5,000 shares of Rush Street Interactive stock. The stock was sold at an average price of $12.00, for a total value of $60,000.00.
• On Friday, November 15th, Mattias Stetz sold 20,000 shares of Rush Street Interactive stock. The shares were sold at an average price of $11.02, for a total value of $220,400.00.

Rush Street Interactive Price Performance

Shares of Rush Street Interactive stock opened at $14.25 on Friday. Rush Street Interactive, Inc. has a 1 year low of $3.56 and a 1 year high of $14.92. The firm’s 50-day moving average is $12.84 and its 200 day moving average is $10.90. The stock has a market cap of $3.22 billion, a price-to-earnings ratio of -712.50 and a beta of 1.88.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in Rush Street Interactive by 155.6% in the 3rd 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 last quarter. Principal Financial Group Inc. increased its holdings in shares of Rush Street Interactive by 656.2% in the 3rd quarter. Principal Financial Group Inc. now owns 77,658 shares of the company’s stock worth $843,000 after purchasing an additional 67,388 shares in the last quarter. Franklin Resources Inc. purchased a new position in shares of Rush Street Interactive in the third quarter worth $901,000. Geode Capital Management LLC lifted its holdings in shares of Rush Street Interactive by 5.6% during the third quarter. Geode Capital Management LLC now owns 1,736,259 shares of the company’s stock valued at $18,843,000 after purchasing an additional 92,314 shares in the last quarter. Finally, Barclays PLC boosted its position in shares of Rush Street Interactive by 178.6% during the third quarter. Barclays PLC now owns 192,628 shares of the company’s stock valued at $2,090,000 after buying an additional 123,486 shares during the last quarter. Institutional investors own 24.78% of the company’s stock.

Wall Street Analysts Forecast Growth

RSI has been the subject of several recent research reports. Craig Hallum raised their price objective on Rush Street Interactive from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Needham & Company LLC lifted their price target on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Jefferies Financial Group upped their price objective on shares of Rush Street Interactive from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.