Richard Todd Schwartz Sells 57,167 Shares of Rush Street Interactive (NYSE:RSI) Stock

Key Points

• Richard Todd Schwartz, CEO of Rush Street Interactive, sold 57,167 shares for approximately $1.19 million, reducing his ownership by 6.49% to 823,566 shares valued at nearly $17.19 million.
• Rush Street Interactive recently reported Q2 earnings of $0.11 EPS, exceeding projections and achieving revenue of $269.22 million, a 22.2% increase year-over-year.
• Analysts maintain a consensus rating of "Moderate Buy" for Rush Street Interactive, with an average price target of $18.33, reflecting positive outlook amidst insider selling activities.

Rush Street Interactive, Inc. (NYSE:RSI - Get Free Report) CEO Richard Todd Schwartz sold 57,167 shares of the company's stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $20.87, for a total transaction of $1,193,075.29. Following the completion of the transaction, the chief executive officer owned 823,566 shares of the company's stock, valued at approximately $17,187,822.42. This trade represents a 6.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Monday, September 8th, Richard Todd Schwartz sold 136,738 shares of Rush Street Interactive stock. The shares were sold at an average price of $20.88, for a total transaction of $2,855,089.44.
• 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 Friday, August 8th, Richard Todd Schwartz sold 93,905 shares of Rush Street Interactive stock. The shares were sold at an average price of $18.67, for a total transaction of $1,753,206.35.
• 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.

Rush Street Interactive Trading Down 1.7%

RSI stock traded down $0.36 on Friday, hitting $21.20. 1,334,250 shares of the company's stock traded hands, compared to its average volume of 1,496,764. Rush Street Interactive, Inc. has a 1-year low of $9.54 and a 1-year high of $22.55. The stock has a market cap of $4.84 billion, a price-to-earnings ratio of 106.00 and a beta of 1.90. The stock has a fifty day moving average of $18.49 and a 200-day moving average of $14.32.

Rush Street Interactive (NYSE:RSI - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.08 by $0.03. Rush Street Interactive had a net margin of 2.48% and a return on equity of 16.53%. The business had revenue of $269.22 million during the quarter, compared to analyst estimates of $248.98 million. During the same period in the prior year, the business earned $0.04 earnings per share. The business's quarterly revenue was up 22.2% on a year-over-year basis. Rush Street Interactive has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Rush Street Interactive, Inc. will post 0.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rush Street Interactive

Several hedge funds have recently made changes to their positions in RSI. Northern Trust Corp lifted its position in shares of Rush Street Interactive by 8.2% in the 4th quarter. Northern Trust Corp now owns 706,386 shares of the company's stock valued at $9,692,000 after acquiring an additional 53,682 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in Rush Street Interactive in the 4th quarter worth approximately $6,965,000. Bank of America Corp DE lifted its position in Rush Street Interactive by 28.0% in the 4th quarter. Bank of America Corp DE now owns 563,769 shares of the company's stock worth $7,735,000 after buying an additional 123,305 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its position in Rush Street Interactive by 60.4% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,015,756 shares of the company's stock worth $13,936,000 after buying an additional 382,618 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in Rush Street Interactive by 233.6% in the 4th quarter. Deutsche Bank AG now owns 125,699 shares of the company's stock worth $1,725,000 after buying an additional 88,017 shares in the last quarter. Hedge funds and other institutional investors own 24.78% of the company's stock.

Analyst Upgrades and Downgrades

RSI has been the subject of several recent research reports. JPMorgan Chase & Co. initiated 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. Wall Street Zen lowered shares of Rush Street Interactive from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Jefferies Financial Group increased their target price on shares of Rush Street Interactive from $17.00 to $18.00 and gave the company a "buy" rating in a research note on Thursday, July 3rd. Susquehanna reissued a "positive" rating and set a $19.00 target price (up from $15.00) on shares of Rush Street Interactive in a research note on Wednesday, July 30th. Finally, Oppenheimer upped their price target on shares of Rush Street Interactive from $16.00 to $21.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $18.33.

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.