Richard Todd Schwartz Sells 70,000 Shares of Rush Street Interactive, Inc. (NYSE:RSI) Stock

Rush Street Interactive, Inc. (NYSE:RSI - Get Free Report) CEO Richard Todd Schwartz sold 70,000 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $13.67, for a total value of $956,900.00. Following the sale, the chief executive officer now directly owns 1,211,376 shares of the company's stock, valued at $16,559,509.92. This represents a 5.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• 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 value of $1,682,629.90.
• On Thursday, May 8th, Richard Todd Schwartz sold 106,952 shares of Rush Street Interactive stock. The stock was sold at an average price of $11.86, for a total transaction of $1,268,450.72.
• On Tuesday, April 8th, Richard Todd Schwartz sold 193,905 shares of Rush Street Interactive stock. The shares were sold at an average price of $10.63, for a total value of $2,061,210.15.

Rush Street Interactive Trading Down 3.5%

Shares of NYSE RSI traded down $0.49 during midday trading on Friday, hitting $13.34. The company's stock had a trading volume of 68,985 shares, compared to its average volume of 1,799,668. The firm has a market cap of $3.05 billion, a P/E ratio of -666.00 and a beta of 1.85. Rush Street Interactive, Inc. has a 12-month low of $8.52 and a 12-month high of $16.78. The business's 50 day moving average is $12.11 and its two-hundred day moving average is $12.88.

Rush Street Interactive (NYSE:RSI - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.09 EPS for the quarter, topping analysts' consensus estimates of $0.08 by $0.01. Rush Street Interactive had a negative net margin of 0.16% and a negative return on equity of 3.73%. The business had revenue of $262.41 million during the quarter, compared to the consensus estimate of $258.90 million. During the same period in the previous year, the company posted $0.03 earnings per share. The firm's revenue was up 20.7% on a year-over-year basis. On average, analysts predict that Rush Street Interactive, Inc. will post 0.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rush Street Interactive

Hedge funds have recently made changes to their positions in the company. Alliancebernstein L.P. lifted its stake in shares of Rush Street Interactive by 1,617.7% in the 1st quarter. Alliancebernstein L.P. now owns 6,133,759 shares of the company's stock valued at $65,754,000 after purchasing an additional 5,776,660 shares during the period. Nuveen LLC purchased a new stake in Rush Street Interactive in the first quarter valued at $29,005,000. Price T Rowe Associates Inc. MD boosted its position in shares of Rush Street Interactive by 7,958.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,029,239 shares of the company's stock worth $27,843,000 after purchasing an additional 2,004,059 shares during the period. Topline Capital Management LLC purchased a new stake in Rush Street Interactive during the fourth quarter worth about $24,851,000. Finally, William Blair Investment Management LLC acquired a new stake in shares of Rush Street Interactive in the fourth quarter valued at $21,635,000. 24.78% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on RSI. Macquarie restated an "outperform" rating and issued a $16.00 target price on shares of Rush Street Interactive in a research note on Friday, May 2nd. Benchmark lifted their target price on shares of Rush Street Interactive from $12.00 to $14.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Wells Fargo & Company boosted their price target on Rush Street Interactive from $14.00 to $15.00 and gave the stock an "overweight" rating in a research report on Thursday, February 27th. Needham & Company LLC restated a "buy" rating and issued a $17.00 price target on shares of Rush Street Interactive in a research note on Thursday, May 1st. Finally, Wall Street Zen raised Rush Street Interactive from a "buy" rating to a "strong-buy" rating in a research report on Monday. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $15.63.

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.