Insider Selling: Rush Street Interactive, Inc. (NYSE:RSI) CFO Sells 28,381 Shares of Stock

Rush Street Interactive, Inc. (NYSE:RSI) CFO Kyle Sauers sold 28,381 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $10.70, for a total transaction of $303,676.70. Following the completion of the transaction, the chief financial officer now directly owns 470,323 shares in the company, valued at $5,032,456.10. This represents a 5.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Kyle Sauers also recently made the following trade(s):

• On Friday, January 10th, Kyle Sauers sold 146,015 shares of Rush Street Interactive stock. The shares were sold at an average price of $13.91, for a total transaction of $2,031,068.65.

Rush Street Interactive Trading Down 1.8 %

NYSE RSI traded down $0.20 during trading hours on Tuesday, reaching $10.63. The company had a trading volume of 1,085,643 shares, compared to its average volume of 1,848,792. The stock has a 50-day moving average of $13.67 and a 200 day moving average of $12.42. Rush Street Interactive, Inc. has a 1-year low of $5.71 and a 1-year high of $16.78. The stock has a market capitalization of $2.43 billion, a P/E ratio of -531.70 and a beta of 1.92.

Institutional Trading of Rush Street Interactive

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Rush Street Interactive by 14.0% during the fourth quarter. Vanguard Group Inc. now owns 8,596,434 shares of the company’s stock worth $117,943,000 after buying an additional 1,056,583 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of Rush Street Interactive by 62.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,663,246 shares of the company’s stock worth $36,540,000 after buying an additional 1,018,889 shares during the period. Driehaus Capital Management LLC increased its stake in shares of Rush Street Interactive by 56.6% during the fourth quarter. Driehaus Capital Management LLC now owns 2,200,517 shares of the company’s stock worth $30,191,000 after buying an additional 795,719 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Rush Street Interactive by 7,958.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,029,239 shares of the company’s stock worth $27,843,000 after buying an additional 2,004,059 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Rush Street Interactive by 43.9% during the fourth quarter. Renaissance Technologies LLC now owns 1,962,400 shares of the company’s stock worth $26,924,000 after buying an additional 598,300 shares during the period. 24.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company lifted their price objective 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. Macquarie reiterated an “outperform” rating and issued a $16.00 target price on shares of Rush Street Interactive in a research note on Thursday, February 27th. Susquehanna upgraded shares of Rush Street Interactive from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 28th. Jefferies Financial Group lifted 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 note on Wednesday, January 15th. Finally, Benchmark lifted their target price 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 analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $15.50.

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.