Richard Todd Schwartz Sells 193,905 Shares of Rush Street Interactive, Inc. (NYSE:RSI) Stock

Rush Street Interactive, Inc. (NYSE:RSI - Get Free Report) CEO Richard Todd Schwartz sold 193,905 shares of the business's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $15.39, for a total value of $2,984,197.95. Following the completion of the transaction, the chief executive officer owned 1,017,471 shares in the company, valued at $15,658,878.69. This trade represents a 16.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• 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 stock was sold at an average price of $13.58, for a total transaction of $1,682,629.90.
• On Thursday, May 8th, Richard Todd Schwartz sold 106,952 shares of Rush Street Interactive stock. The shares were sold at an average price of $11.86, for a total transaction of $1,268,450.72.

Rush Street Interactive Stock Down 3.0%

Shares of RSI stock traded down $0.46 during trading hours on Friday, reaching $14.87. 959,180 shares of the company's stock were exchanged, compared to its average volume of 1,765,446. Rush Street Interactive, Inc. has a fifty-two week low of $8.52 and a fifty-two week high of $16.78. The stock has a market capitalization of $3.40 billion, a P/E ratio of 185.90 and a beta of 1.87. The business has a fifty day moving average price of $13.31 and a 200-day moving average price of $12.98.

Rush Street Interactive (NYSE:RSI - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.08 by $0.01. Rush Street Interactive had a net margin of 0.87% and a return on equity of 7.35%. The firm had revenue of $262.41 million during the quarter, compared to analysts' expectations of $258.90 million. During the same period in the prior year, the company earned $0.03 EPS. The business's quarterly revenue was up 20.7% compared to the same quarter last year. As a group, research analysts expect that Rush Street Interactive, Inc. will post 0.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on RSI. Benchmark increased their target price on shares of Rush Street Interactive from $14.00 to $17.00 and gave the stock a "buy" rating in a research report on Tuesday, July 1st. Susquehanna increased their price target on Rush Street Interactive from $14.00 to $15.00 and gave the company a "positive" rating in a report on Thursday, May 1st. Needham & Company LLC restated a "buy" rating and issued a $17.00 price objective on shares of Rush Street Interactive in a research note on Thursday, May 1st. Macquarie reaffirmed an "outperform" rating and set a $16.00 price objective on shares of Rush Street Interactive in a report on Friday, May 2nd. Finally, JPMorgan Chase & Co. began coverage on shares of Rush Street Interactive in a research note on Monday, June 23rd. They issued a "neutral" rating and a $14.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Rush Street Interactive has a consensus rating of "Moderate Buy" and an average target price of $15.89.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RSI. Vanguard Group Inc. grew its position in Rush Street Interactive by 14.0% during the fourth quarter. Vanguard Group Inc. now owns 8,596,434 shares of the company's stock worth $117,943,000 after buying an additional 1,056,583 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Rush Street Interactive by 1,617.7% during the 1st quarter. Alliancebernstein L.P. now owns 6,133,759 shares of the company's stock worth $65,754,000 after purchasing an additional 5,776,660 shares in the last quarter. Nuveen LLC bought a new stake in shares of Rush Street Interactive during the first quarter valued at approximately $29,005,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Rush Street Interactive by 62.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,663,246 shares of the company's stock valued at $36,540,000 after purchasing an additional 1,018,889 shares in the last quarter. Finally, Driehaus Capital Management LLC raised its stake in shares of Rush Street Interactive by 12.7% in the first quarter. Driehaus Capital Management LLC now owns 2,480,268 shares of the company's stock valued at $26,588,000 after purchasing an additional 279,751 shares in the last quarter. Institutional investors and hedge funds own 24.78% of the company's stock.

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.