Rush Street Interactive (NYSE:RSI) Stock: Insider Richard Todd Schwartz Sells 111,110 Shares

Rush Street Interactive, Inc. (NYSE:RSI) CEO Richard Schwartz sold 111,110 shares of the company’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $19.88, for a total transaction of $2,208,866.80. Following the sale, the chief executive officer directly owned 421,258 shares of the company’s stock, valued at $8,374,609.04. This represents a 20.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, October 1st, Richard Schwartz sold 47,222 shares of Rush Street Interactive stock. The shares were sold at an average price of $19.88, for a total transaction of $938,773.36.
• On Tuesday, September 1st, Richard Schwartz sold 111,110 shares of Rush Street Interactive stock. The shares were sold at an average price of $25.69, for a total transaction of $2,854,415.90.
• On Tuesday, September 1st, Richard Schwartz sold 47,222 shares of Rush Street Interactive stock. The shares were sold at an average price of $25.69, for a total transaction of $1,213,133.18.
• On Monday, August 3rd, Richard Schwartz sold 111,112 shares of Rush Street Interactive stock. The stock was sold at an average price of $28.02, for a total transaction of $3,113,358.24.
• On Monday, August 3rd, Richard Schwartz sold 47,222 shares of Rush Street Interactive stock. The stock was sold at an average price of $28.02, for a total transaction of $1,323,160.44.

Rush Street Interactive Price Performance

NYSE:RSI traded up $1.01 during mid-day trading on Monday, reaching $21.02. The stock had a trading volume of 4,056,695 shares, compared to its average volume of 2,476,846. The stock has a 50-day simple moving average of $25.11 and a two-hundred day simple moving average of $26.28. The stock has a market capitalization of $4.87 billion, a PE ratio of 72.50 and a beta of 1.71. Rush Street Interactive, Inc. has a 12 month low of $15.51 and a 12 month high of $34.53.

Rush Street Interactive (NYSE:RSI) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.15 EPS for the quarter, meeting the consensus estimate of $0.15. The business had revenue of $393.78 million during the quarter, compared to the consensus estimate of $367.75 million. Rush Street Interactive had a net margin of 2.33% and a return on equity of 18.88%. The company’s revenue was up 46.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.11 earnings per share. Equities analysts expect that Rush Street Interactive, Inc. will post 0.49 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Global Retirement Partners LLC bought a new stake in Rush Street Interactive during the 2nd quarter worth $35,000. CoreCap Advisors LLC bought a new position in Rush Street Interactive in the second quarter valued at about $54,000. Allworth Financial LP acquired a new stake in shares of Rush Street Interactive during the second quarter valued at about $57,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Rush Street Interactive during the second quarter valued at about $70,000. Finally, Quantbot Technologies LP bought a new stake in shares of Rush Street Interactive during the second quarter worth about $98,000. 24.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Needham & Company LLC upped their price objective on Rush Street Interactive from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Citigroup reiterated a “market outperform” rating on shares of Rush Street Interactive in a research report on Tuesday, September 22nd. Benchmark increased their target price on shares of Rush Street Interactive from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. JPMorgan Chase & Co. raised their price target on shares of Rush Street Interactive from $26.00 to $30.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Finally, Oppenheimer lifted their price target on shares of Rush Street Interactive from $30.00 to $36.00 and gave the company an “outperform” rating in a report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $35.10.

About Rush Street Interactive

Rush Street Interactive, Inc is an online gaming and sports betting company that operates regulated internet casino and sportsbook platforms. Its consumer-facing brands include BetRivers and PlaySugarHouse, which offer online casino games, sports wagering, and related digital gaming services where permitted by local regulations.

The company serves customers in multiple regulated markets across the United States and Latin America. Its operations have included online sports betting and casino gaming in U.S.