Insider Selling: Rush Street Interactive (NYSE:RSI) CEO Sells 3,690 Shares of Stock

Key Points

• Rush Street Interactive CEO Richard Schwartz sold 3,690 shares at an average $12.57, worth about $46,383; the sale was made under a pre-arranged Rule 10b5-1 plan. He retained 375,836 shares after the transaction.
• The company’s latest quarter showed 38.8% year-over-year revenue growth and EPS of $0.15, above the $0.13 consensus, though revenue fell slightly short of estimates.
• RSI shares were trading at $11.80, down 3.6% on the day. Analysts’ consensus rating was “Moderate Buy,” with a $26.46 average price target.

Rush Street Interactive, Inc. (NYSE:RSI - Get Free Report) CEO Richard Schwartz sold 3,690 shares of the stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $12.57, for a total transaction of $46,383.30. Following the sale, the chief executive officer directly owned 375,836 shares of the company's stock, valued at approximately $4,724,258.52. This trade represents a 0.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, November 9th, Richard Schwartz sold 1,800 shares of Rush Street Interactive stock. The shares were sold at an average price of $12.57, for a total transaction of $22,626.00.
• On Thursday, October 1st, Richard Schwartz sold 111,110 shares of Rush Street Interactive stock. The shares were sold at an average price of $19.88, for a total transaction of $2,208,866.80.
• On Thursday, October 1st, Richard Schwartz sold 47,222 shares of Rush Street Interactive stock. The stock was sold at an average price of $19.88, for a total transaction of $938,773.36.
• On Tuesday, September 1st, Richard Schwartz sold 111,110 shares of Rush Street Interactive stock. The stock was sold at an average price of $25.69, for a total transaction of $2,854,415.90.
• On Tuesday, September 1st, Richard Schwartz sold 47,222 shares of Rush Street Interactive stock. The stock was sold at an average price of $25.69, for a total transaction of $1,213,133.18.

Rush Street Interactive Stock Down 3.6%

Shares of Rush Street Interactive stock traded down $0.43 during trading hours on Thursday, hitting $11.80. The company's stock had a trading volume of 1,986,819 shares, compared to its average volume of 2,721,081. The business has a fifty day moving average of $19.28 and a 200 day moving average of $23.47. Rush Street Interactive, Inc. has a 1-year low of $11.27 and a 1-year high of $34.53. The company has a market capitalization of $2.72 billion, a PE ratio of 35.77 and a beta of 1.80.

Rush Street Interactive (NYSE:RSI - Get Free Report) last posted its earnings results on Wednesday, October 28th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.02. Rush Street Interactive had a net margin of 2.56% and a return on equity of 24.46%. The business had revenue of $385.85 million for the quarter, compared to analyst estimates of $388.05 million. During the same quarter in the previous year, the business posted $0.09 EPS. The business's quarterly revenue was up 38.8% on a year-over-year basis. On average, sell-side analysts anticipate that Rush Street Interactive, Inc. will post 0.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rush Street Interactive

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC purchased a new position in Rush Street Interactive in the 2nd quarter valued at about $35,000. Jacobi Capital Management LLC acquired a new stake in shares of Rush Street Interactive during the third quarter valued at about $35,000. CoreCap Advisors LLC purchased a new stake in shares of Rush Street Interactive during the second quarter worth about $54,000. Allworth Financial LP purchased a new stake in shares of Rush Street Interactive during the second quarter worth about $57,000. Finally, Advisors Asset Management Inc. purchased a new stake in shares of Rush Street Interactive during the third quarter worth about $68,000. Hedge funds and other institutional investors own 24.78% of the company's stock.

Analyst Ratings Changes

RSI has been the subject of several analyst reports. Wall Street Zen raised Rush Street Interactive from a "hold" rating to a "buy" rating in a research report on Saturday, October 31st. Citigroup reiterated a "market outperform" rating on shares of Rush Street Interactive in a report on Thursday, October 29th. Susquehanna dropped their target price on Rush Street Interactive from $37.00 to $27.00 and set a "positive" rating on the stock in a report on Friday, October 9th. Wells Fargo & Company reduced their price target on Rush Street Interactive from $36.00 to $26.00 and set an "overweight" rating on the stock in a research report on Thursday, October 29th. Finally, Weiss Ratings cut Rush Street Interactive from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Rush Street Interactive currently has a consensus rating of "Moderate Buy" and a consensus target price of $26.46.

Rush Street Interactive Company Profile

Rush Street Interactive, Inc. is an online gaming company that offers real-money online casino games and sports betting. Its consumer-facing brands include BetRivers and, in some markets, PlaySugarHouse. The company also offers free-to-play gaming products. Rush Street Interactive was established in 2012 as part of the Rush Street Gaming group and became a publicly traded company in 2020. It operates in regulated markets in the United States, Canada and Latin America, with the availability of its products varying by jurisdiction.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.