Rush Street Interactive (NYSE:RSI) CEO Richard Todd Schwartz Sells 111,110 Shares of Stock

Key Points

• CEO Richard Todd Schwartz sold 111,110 RSI shares at an average price of $19.88, generating approximately $2.21 million. The Rule 10b5-1 transaction reduced his stake by 20.87%, leaving him with 421,258 shares.
• Rush Street Interactive reported quarterly revenue of $393.78 million, up 46.3% year over year and above analysts’ expectations, while adjusted earnings of $0.15 per share matched consensus estimates.
• Analysts maintain a generally positive view, with RSI holding a “Moderate Buy” consensus rating and an average price target of $35.10; the stock recently traded at $21.02, below its 52-week high of $34.53.

Rush Street Interactive, Inc. (NYSE:RSI - Get Free Report) CEO Richard Schwartz sold 111,110 shares of the stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $19.88, for a total transaction of $2,208,866.80. Following the completion of the sale, the chief executive officer owned 421,258 shares of the company's stock, valued at approximately $8,374,609.04. This represents a 20.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 shares were 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 shares were sold at an average price of $25.69, for a total transaction of $1,213,133.18.
• On Monday, August 3rd, Richard Schwartz sold 111,112 shares of Rush Street Interactive stock. The stock was sold at an average price of $28.02, for a total value of $3,113,358.24.
• On Monday, August 3rd, Richard Schwartz sold 47,222 shares of Rush Street Interactive stock. The stock was sold at an average price of $28.02, for a total value of $1,323,160.44.

Rush Street Interactive Price Performance

NYSE RSI traded up $1.01 during trading on Monday, reaching $21.02. 4,056,695 shares of the company's stock were exchanged, compared to its average volume of 2,476,846. The business has a 50 day moving average price of $25.11 and a 200-day moving average price of $26.28. The stock has a market capitalization of $4.87 billion, a P/E ratio of 72.50 and a beta of 1.71. Rush Street Interactive, Inc. has a fifty-two week low of $15.51 and a fifty-two week high of $34.53.

Rush Street Interactive (NYSE:RSI - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.15 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.15. The company had revenue of $393.78 million during the quarter, compared to analysts' expectations of $367.75 million. Rush Street Interactive had a return on equity of 18.88% and a net margin of 2.33%.The business's revenue was up 46.3% on a year-over-year basis. During the same period last year, the firm posted $0.11 earnings per share. On average, analysts forecast that Rush Street Interactive, Inc. will post 0.49 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have commented on RSI. JPMorgan Chase & Co. upped their price objective on shares of Rush Street Interactive from $26.00 to $30.00 and gave the company a "neutral" rating in a report on Wednesday, July 15th. Jefferies Financial Group restated a "buy" rating and set a $39.00 target price on shares of Rush Street Interactive in a research note on Thursday, July 30th. Benchmark lifted their target price on shares of Rush Street Interactive from $30.00 to $35.00 and gave the stock a "buy" rating in a report on Thursday, July 23rd. Susquehanna upped their price target on shares of Rush Street Interactive from $30.00 to $36.00 and gave the company a "positive" rating in a research note on Wednesday, July 29th. Finally, New Street Research set a $35.00 price target on shares of Rush Street Interactive in a report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Rush Street Interactive presently has an average rating of "Moderate Buy" and an average target price of $35.10.

Institutional Trading of Rush Street Interactive

A number of institutional investors have recently bought and sold shares of RSI. Global Retirement Partners LLC bought a new stake in shares of Rush Street Interactive in the second quarter valued at approximately $35,000. CoreCap Advisors LLC bought a new position in Rush Street Interactive during the 2nd quarter worth $54,000. Allworth Financial LP acquired a new position in Rush Street Interactive in the 2nd quarter valued at $57,000. Integrated Wealth Concepts LLC acquired a new position in Rush Street Interactive in the 2nd quarter valued at $70,000. Finally, Quantbot Technologies LP bought a new stake in shares of Rush Street Interactive during the 2nd quarter valued at $98,000. Institutional investors own 24.78% of the company's stock.

About Rush Street Interactive

Rush Street Interactive, Inc is an online gaming and sports betting company that operates regulated internet casino and sportsbook platforms. Its consumer-facing brands include BetRivers and PlaySugarHouse, which offer online casino games, sports wagering, and related digital gaming services where permitted by local regulations.

The company serves customers in multiple regulated markets across the United States and Latin America. Its operations have included online sports betting and casino gaming in U.S.

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