Insider Selling: Rush Street Interactive, Inc. (NYSE:RSI) Insider Sells $816,900.00 in Stock

Rush Street Interactive, Inc. (NYSE:RSI) insider Einar Roosileht sold 70,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $11.67, for a total transaction of $816,900.00. Following the completion of the transaction, the insider now owns 946,150 shares in the company, valued at approximately $11,041,570.50. This trade represents a 6.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Einar Roosileht also recently made the following trade(s):

• On Monday, February 3rd, Einar Roosileht sold 70,000 shares of Rush Street Interactive stock. The stock was sold at an average price of $14.41, for a total transaction of $1,008,700.00.
• On Thursday, January 2nd, Einar Roosileht sold 48,968 shares of Rush Street Interactive stock. The stock was sold at an average price of $14.04, for a total transaction of $687,510.72.

Rush Street Interactive Price Performance

RSI opened at $10.56 on Friday. The company has a market cap of $2.38 billion, a price-to-earnings ratio of -527.75 and a beta of 1.92. The firm has a 50 day simple moving average of $14.16 and a 200 day simple moving average of $12.32. Rush Street Interactive, Inc. has a fifty-two week low of $5.67 and a fifty-two week high of $16.78.

Institutional Investors Weigh In On Rush Street Interactive

Several large investors have recently bought and sold shares of RSI. Price T Rowe Associates Inc. MD increased its stake in Rush Street Interactive by 7,958.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,029,239 shares of the company’s stock valued at $27,843,000 after purchasing an additional 2,004,059 shares in the last quarter. Topline Capital Management LLC bought a new stake in Rush Street Interactive in the fourth quarter valued at approximately $24,851,000. William Blair Investment Management LLC bought a new stake in Rush Street Interactive in the fourth quarter valued at approximately $21,635,000. Nicholas Investment Partners LP bought a new stake in Rush Street Interactive in the fourth quarter valued at approximately $14,970,000. Finally, Vanguard Group Inc. increased its stake in Rush Street Interactive by 14.0% in the fourth quarter. Vanguard Group Inc. now owns 8,596,434 shares of the company’s stock valued at $117,943,000 after purchasing an additional 1,056,583 shares in the last quarter. Institutional investors own 24.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on RSI shares. Jefferies Financial Group upped their target price on shares of Rush Street Interactive from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Needham & Company LLC reiterated a “buy” rating and set a $17.00 target price on shares of Rush Street Interactive in a research report on Thursday, February 27th. JMP Securities reiterated a “market perform” rating on shares of Rush Street Interactive in a research report on Monday, January 6th. Wells Fargo & Company upped their target price on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Finally, Benchmark boosted their price target on shares of Rush Street Interactive from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $15.50.

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.