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 company's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $13.67, for a total value of $956,900.00. Following the completion of the sale, the chief executive officer now directly owns 1,211,376 shares in the company, valued at $16,559,509.92. This trade represents a 5.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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 shares were sold at an average price of $11.86, for a total value 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 Price Performance

NYSE:RSI traded down $0.59 during mid-day trading on Friday, reaching $13.23. The company's stock had a trading volume of 875,217 shares, compared to its average volume of 1,784,140. The company's fifty day simple moving average is $12.16 and its two-hundred day simple moving average is $12.86. Rush Street Interactive, Inc. has a twelve month low of $8.52 and a twelve month high of $16.78. The stock has a market cap of $3.03 billion, a P/E ratio of -661.35 and a beta of 1.85.

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

Hedge Funds Weigh In On Rush Street Interactive

A number of large investors have recently modified their holdings of RSI. Bank of America Corp DE raised its holdings in shares of Rush Street Interactive by 28.0% during the 4th quarter. Bank of America Corp DE now owns 563,769 shares of the company's stock valued at $7,735,000 after buying an additional 123,305 shares during the period. Legato Capital Management LLC purchased a new stake in shares of Rush Street Interactive during the 4th quarter valued at about $1,897,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Rush Street Interactive during the 4th quarter valued at about $337,000. Deutsche Bank AG raised its holdings in shares of Rush Street Interactive by 233.6% during the 4th quarter. Deutsche Bank AG now owns 125,699 shares of the company's stock valued at $1,725,000 after buying an additional 88,017 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Rush Street Interactive by 18.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 879,563 shares of the company's stock worth $12,068,000 after purchasing an additional 137,701 shares during the last quarter. 24.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RSI. Wells Fargo & Company increased their price objective on Rush Street Interactive from $14.00 to $15.00 and gave the company an "overweight" rating in a research note on Thursday, February 27th. Needham & Company LLC reaffirmed a "buy" rating and set a $17.00 price objective on shares of Rush Street Interactive in a research note on Thursday, May 1st. Benchmark increased their price objective on Rush Street Interactive from $12.00 to $14.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Wall Street Zen raised Rush Street Interactive from a "buy" rating to a "strong-buy" rating in a research note on Monday, June 9th. Finally, Susquehanna increased their price objective on Rush Street Interactive from $14.00 to $15.00 and gave the company a "positive" rating in a research note on Thursday, May 1st. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target 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.