Insider Selling: Rush Street Interactive, Inc. (NYSE:RSI) CEO Sells 93,905 Shares of Stock

Key Points

• Richard Todd Schwartz, CEO of Rush Street Interactive, Inc., sold 93,905 shares of stock on August 8 for approximately $1.75 million, decreasing his position by 9.23%.
• Following the trade, Schwartz still holds 923,566 shares valued at over $17.2 million.
• Rush Street Interactive's stock price was $18.56 after a slight decline of 0.1%, with a market cap of $4.25 billion and a one-year earnings growth of 22.2%.

Rush Street Interactive, Inc. (NYSE:RSI - Get Free Report) CEO Richard Todd Schwartz sold 93,905 shares of Rush Street Interactive stock in a transaction on Friday, August 8th. The shares were sold at an average price of $18.67, for a total transaction of $1,753,206.35. Following the completion of the transaction, the chief executive officer directly owned 923,566 shares of the company's stock, valued at $17,242,977.22. The trade was a 9.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Monday, August 11th, Richard Todd Schwartz sold 100,000 shares of Rush Street Interactive stock. The shares were sold at an average price of $18.62, for a total transaction of $1,862,000.00.
• On Tuesday, July 8th, Richard Todd Schwartz sold 193,905 shares of Rush Street Interactive stock. The shares were sold at an average price of $15.39, for a total transaction of $2,984,197.95.
• On Tuesday, June 10th, Richard Todd Schwartz sold 70,000 shares of Rush Street Interactive stock. The shares were sold at an average price of $13.67, for a total transaction of $956,900.00.
• On Monday, June 9th, Richard Todd Schwartz sold 123,905 shares of Rush Street Interactive stock. The shares were sold at an average price of $13.58, for a total transaction of $1,682,629.90.

Rush Street Interactive Stock Down 0.1%

NYSE:RSI traded down $0.01 on Monday, hitting $18.56. The stock had a trading volume of 1,250,283 shares, compared to its average volume of 1,723,637. The stock has a market cap of $4.25 billion, a price-to-earnings ratio of 92.80 and a beta of 1.90. The company has a fifty day moving average price of $15.08 and a two-hundred day moving average price of $13.26. Rush Street Interactive, Inc. has a 1-year low of $8.76 and a 1-year high of $20.32.

Rush Street Interactive (NYSE:RSI - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.03. The company had revenue of $269.22 million for the quarter, compared to analyst estimates of $248.98 million. Rush Street Interactive had a net margin of 2.48% and a return on equity of 16.53%. Rush Street Interactive's revenue was up 22.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.04 EPS. As a group, analysts anticipate that Rush Street Interactive, Inc. will post 0.04 earnings per share for the current year.

Hedge Funds Weigh In On Rush Street Interactive

Institutional investors and hedge funds have recently bought and sold shares of the company. Heck Capital Advisors LLC acquired a new position in shares of Rush Street Interactive in the 4th quarter worth approximately $34,000. Pacer Advisors Inc. lifted its holdings in shares of Rush Street Interactive by 94.7% in the 1st quarter. Pacer Advisors Inc. now owns 2,533 shares of the company's stock worth $27,000 after acquiring an additional 1,232 shares during the last quarter. Farther Finance Advisors LLC acquired a new position in shares of Rush Street Interactive in the 2nd quarter worth approximately $42,000. Summit Securities Group LLC acquired a new position in shares of Rush Street Interactive in the 1st quarter worth approximately $33,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Rush Street Interactive by 1,687.6% in the 1st quarter. GAMMA Investing LLC now owns 6,507 shares of the company's stock worth $70,000 after acquiring an additional 6,143 shares during the last quarter. 24.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on RSI shares. JPMorgan Chase & Co. started coverage on shares of Rush Street Interactive in a research note on Monday, June 23rd. They set a "neutral" rating and a $14.00 target price for the company. Oppenheimer boosted their target price on shares of Rush Street Interactive from $16.00 to $21.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Wall Street Zen raised shares of Rush Street Interactive from a "buy" rating to a "strong-buy" rating in a research note on Friday, July 18th. Needham & Company LLC boosted their target price on shares of Rush Street Interactive from $17.00 to $21.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Finally, Jefferies Financial Group boosted their target price on shares of Rush Street Interactive from $17.00 to $18.00 and gave the stock a "buy" rating in a research note on Thursday, July 3rd. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $17.89.

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.

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