Rush Street Interactive (NYSE:RSI) CEO Sells $2,855,089.44 in Stock

Key Points

• CEO Richard Todd Schwartz sold 136,738 shares of Rush Street Interactive at an average price of $20.88, totaling approximately $2.86 million, leading to a 13.44% reduction in his holdings.
• Following earnings results that exceeded estimates, Rush Street Interactive's quarterly revenue increased by **22.2% year-over-year**, reporting earnings per share of $0.11 against a consensus estimate of $0.08.
• Institutional investors hold **24.78%** of Rush Street Interactive's stock, with significant increases in stakes from investors such as Northern Trust Corp and Deutsche Bank AG in the last quarter.

Rush Street Interactive, Inc. (NYSE:RSI - Get Free Report) CEO Richard Todd Schwartz sold 136,738 shares of the firm's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $20.88, for a total transaction of $2,855,089.44. Following the transaction, the chief executive officer directly owned 880,733 shares of the company's stock, valued at approximately $18,389,705.04. This represents a 13.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Tuesday, September 9th, Richard Todd Schwartz sold 57,167 shares of Rush Street Interactive stock. The stock was sold at an average price of $20.87, for a total transaction of $1,193,075.29.
• On Monday, August 11th, Richard Todd Schwartz sold 100,000 shares of Rush Street Interactive stock. The stock was 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 Stock Performance

Shares of NYSE RSI traded down $0.36 during midday trading on Friday, hitting $21.20. The company's stock had a trading volume of 1,334,250 shares, compared to its average volume of 1,469,237. Rush Street Interactive, Inc. has a 1-year low of $9.54 and a 1-year high of $22.55. The firm's fifty day moving average price is $18.49 and its 200-day moving average price is $14.34. The firm has a market cap of $4.84 billion, a P/E ratio of 106.00 and a beta of 1.90.

Rush Street Interactive (NYSE:RSI - Get Free Report) last posted its quarterly 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 previous year, the business posted $0.04 EPS. The company's quarterly revenue was up 22.2% on a year-over-year basis. Rush Street Interactive has set its FY 2025 guidance at EPS. As a group, research analysts predict that Rush Street Interactive, Inc. will post 0.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

RSI has been the subject of several research reports. Susquehanna reaffirmed a "positive" rating and issued a $19.00 price target (up from $15.00) on shares of Rush Street Interactive in a report on Wednesday, July 30th. JPMorgan Chase & Co. assumed coverage on shares of Rush Street Interactive in a research report on Monday, June 23rd. They issued a "neutral" rating and a $14.00 price objective on the stock. Needham & Company LLC lifted their price objective on shares of Rush Street Interactive from $17.00 to $21.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Wall Street Zen downgraded shares of Rush Street Interactive from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Finally, Zacks Research upgraded shares of Rush Street Interactive from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 25th. One investment 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 company's stock. Based on data from MarketBeat, Rush Street Interactive presently has an average rating of "Moderate Buy" and a consensus price target of $18.33.

Institutional Trading of Rush Street Interactive

A number of hedge funds and other institutional investors have recently made changes to their positions in RSI. Alliancebernstein L.P. raised its position 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 buying an additional 5,776,660 shares in the last quarter. Nuveen LLC acquired a new position in shares of Rush Street Interactive in the 1st quarter worth approximately $29,005,000. Marshall Wace LLP grew its stake in shares of Rush Street Interactive by 100.9% in the 2nd quarter. Marshall Wace LLP now owns 2,372,671 shares of the company's stock worth $35,353,000 after purchasing an additional 1,191,546 shares during the last quarter. Nicholas Investment Partners LP acquired a new position in shares of Rush Street Interactive in the 4th quarter worth approximately $14,970,000. Finally, Millennium Management LLC grew its stake in shares of Rush Street Interactive by 267.0% in the 4th quarter. Millennium Management LLC now owns 1,337,554 shares of the company's stock worth $18,351,000 after purchasing an additional 973,139 shares during the last quarter. 24.78% of the stock is currently owned by institutional investors.

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.