Richard Todd Schwartz Sells 23,737 Shares of Rush Street Interactive, Inc. (NYSE:RSI) Stock

Rush Street Interactive, Inc. (NYSE:RSI) CEO Richard Todd Schwartz sold 23,737 shares of the company’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $6.11, for a total transaction of $145,033.07. Following the completion of the sale, the chief executive officer now directly owns 2,062,997 shares of the company’s stock, valued at approximately $12,604,911.67. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Monday, April 1st, Richard Todd Schwartz sold 101,951 shares of Rush Street Interactive stock. The stock was sold at an average price of $6.78, for a total value of $691,227.78.
• On Tuesday, March 19th, Richard Todd Schwartz sold 38,687 shares of Rush Street Interactive stock. The shares were sold at an average price of $5.83, for a total value of $225,545.21.

Rush Street Interactive Stock Down 2.8 %

Shares of NYSE RSI traded down $0.18 during midday trading on Friday, reaching $5.98. 1,270,759 shares of the stock were exchanged, compared to its average volume of 1,213,334. The firm has a 50-day simple moving average of $6.13 and a two-hundred day simple moving average of $4.96. Rush Street Interactive, Inc. has a twelve month low of $2.85 and a twelve month high of $7.31. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of -22.13 and a beta of 1.71.

Rush Street Interactive (NYSE:RSI) last announced its earnings results on Wednesday, March 6th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.01. The company had revenue of $193.85 million for the quarter, compared to analysts’ expectations of $181.50 million. Rush Street Interactive had a negative net margin of 2.65% and a negative return on equity of 28.95%. Research analysts expect that Rush Street Interactive, Inc. will post -0.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Swiss National Bank boosted its stake in Rush Street Interactive by 7.2% during the first quarter. Swiss National Bank now owns 126,100 shares of the company’s stock worth $917,000 after buying an additional 8,500 shares during the period. JPMorgan Chase & Co. increased its stake in Rush Street Interactive by 36.5% during the first quarter. JPMorgan Chase & Co. now owns 33,654 shares of the company’s stock worth $244,000 after purchasing an additional 9,007 shares during the period. MetLife Investment Management LLC lifted its position in shares of Rush Street Interactive by 58.5% during the first quarter. MetLife Investment Management LLC now owns 34,711 shares of the company’s stock worth $252,000 after purchasing an additional 12,811 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Rush Street Interactive by 16.2% in the first quarter. Rhumbline Advisers now owns 51,874 shares of the company’s stock valued at $377,000 after purchasing an additional 7,219 shares during the period. Finally, BlackRock Inc. increased its stake in Rush Street Interactive by 0.9% during the 1st quarter. BlackRock Inc. now owns 3,510,602 shares of the company’s stock worth $25,522,000 after buying an additional 30,403 shares during the period. Institutional investors and hedge funds own 24.78% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. JMP Securities restated a “market perform” rating on shares of Rush Street Interactive in a research note on Friday, March 8th. Wells Fargo & Company increased their price target on shares of Rush Street Interactive from $7.00 to $8.00 and gave the company an “overweight” rating in a research report on Thursday, March 7th. Craig Hallum raised shares of Rush Street Interactive from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $7.00 to $8.00 in a research report on Friday. Oppenheimer boosted their price objective on shares of Rush Street Interactive from $7.00 to $9.00 and gave the stock an “outperform” rating in a research note on Thursday, March 7th. Finally, Needham & Company LLC raised their target price on shares of Rush Street Interactive from $6.00 to $8.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $7.50.

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.