Insider Selling: Rush Street Interactive, Inc. (NYSE:RSI) CEO Sells $1,079,234.95 in Stock

Rush Street Interactive, Inc. (NYSE:RSI) CEO Richard Todd Schwartz sold 109,567 shares of Rush Street Interactive stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $9.85, for a total transaction of $1,079,234.95. Following the completion of the transaction, the chief executive officer now owns 2,082,376 shares in the company, valued at approximately $20,511,403.60. This trade represents a 5.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• 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.
• On Monday, January 13th, Richard Todd Schwartz sold 4,419 shares of Rush Street Interactive stock. The stock was sold at an average price of $13.75, for a total value of $60,761.25.
• On Friday, January 10th, Richard Todd Schwartz sold 33,142 shares of Rush Street Interactive stock. The shares were sold at an average price of $13.98, for a total value of $463,325.16.
• On Wednesday, January 8th, Richard Todd Schwartz sold 149,605 shares of Rush Street Interactive stock. The stock was sold at an average price of $14.61, for a total value of $2,185,729.05.

Rush Street Interactive Stock Performance

NYSE:RSI opened at $9.65 on Friday. The company has a market capitalization of $2.20 billion, a P/E ratio of -482.25 and a beta of 1.92. The stock’s 50 day moving average price is $13.89 and its 200 day moving average price is $12.37. Rush Street Interactive, Inc. has a 52 week low of $5.71 and a 52 week high of $16.78.

Institutional Trading of Rush Street Interactive

Several large investors have recently added to or reduced their stakes in RSI. Creative Planning acquired a new stake in shares of Rush Street Interactive in the 3rd quarter valued at $180,000. New York State Teachers Retirement System lifted its position in shares of Rush Street Interactive by 17.2% in the third quarter. New York State Teachers Retirement System now owns 6,938 shares of the company’s stock worth $75,000 after buying an additional 1,020 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Rush Street Interactive by 656.2% during the 3rd quarter. Principal Financial Group Inc. now owns 77,658 shares of the company’s stock worth $843,000 after acquiring an additional 67,388 shares in the last quarter. Mesirow Financial Investment Management Inc. increased its holdings in shares of Rush Street Interactive by 7.3% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 25,727 shares of the company’s stock valued at $279,000 after acquiring an additional 1,745 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in shares of Rush Street Interactive in the 3rd quarter valued at approximately $1,795,000. 24.78% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on RSI shares. JMP Securities reiterated a “market perform” rating on shares of Rush Street Interactive in a report on Monday, January 6th. Benchmark raised their price objective on shares of Rush Street Interactive from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Needham & Company LLC reissued a “buy” rating and set a $17.00 target price on shares of Rush Street Interactive in a research note on Thursday, February 27th. Macquarie reaffirmed an “outperform” rating and issued a $16.00 target price on shares of Rush Street Interactive in a research report on Thursday, February 27th. Finally, Wells Fargo & Company lifted their price target on Rush Street Interactive from $14.00 to $15.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Rush Street Interactive has an average rating of “Buy” and an average price target of $15.50.

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.