Insider Selling: Rush Street Interactive, Inc. (NYSE:RSI) CEO Sells 103,905 Shares of Stock

Rush Street Interactive, Inc. (NYSE:RSI) CEO Richard Todd Schwartz sold 103,905 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $11.02, for a total value of $1,145,033.10. Following the sale, the chief executive officer now owns 1,703,578 shares in the company, valued at approximately $18,773,429.56. The trade was a 5.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Monday, November 18th, Richard Todd Schwartz sold 90,000 shares of Rush Street Interactive stock. The stock was sold at an average price of $11.20, for a total value of $1,008,000.00.

Rush Street Interactive Trading Up 3.1 %

Rush Street Interactive stock opened at $12.21 on Thursday. Rush Street Interactive, Inc. has a 12 month low of $3.56 and a 12 month high of $12.46. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of -610.50 and a beta of 1.78. The stock has a fifty day simple moving average of $10.82 and a two-hundred day simple moving average of $9.79.

Institutional Trading of Rush Street Interactive

Several large investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Rush Street Interactive during the third quarter valued at about $44,000. Point72 DIFC Ltd purchased a new stake in shares of Rush Street Interactive in the third quarter worth about $70,000. New York State Teachers Retirement System lifted its position in shares of Rush Street Interactive by 17.2% in the third quarter. New York State Teachers Retirement System now owns 6,938 shares of the company’s stock worth $75,000 after buying an additional 1,020 shares in the last quarter. Quarry LP raised its position in Rush Street Interactive by 15.9% during the second quarter. Quarry LP now owns 8,762 shares of the company’s stock valued at $84,000 after purchasing an additional 1,200 shares during the period. Finally, CWM LLC raised its position in Rush Street Interactive by 425.6% during the third quarter. CWM LLC now owns 9,209 shares of the company’s stock valued at $100,000 after purchasing an additional 7,457 shares during the period. Institutional investors own 24.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Wells Fargo & Company increased their target price on Rush Street Interactive from $11.00 to $13.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Jefferies Financial Group increased their price objective on Rush Street Interactive from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Craig Hallum increased their target price on Rush Street Interactive from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Oppenheimer increased their target price on Rush Street Interactive from $10.00 to $14.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Finally, Needham & Company LLC raised their price objective on Rush Street Interactive from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $12.43.

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.