Insider Selling: Rush Street Interactive, Inc. (NYSE:RSI) CEO Sells $1,008,000.00 in Stock

Rush Street Interactive, Inc. (NYSE:RSI) CEO Richard Todd Schwartz sold 90,000 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $11.20, for a total transaction of $1,008,000.00. Following the completion of the transaction, the chief executive officer now owns 1,613,578 shares in the company, valued at approximately $18,072,073.60. This trade represents a 5.28 % 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.

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

• On Friday, November 15th, Richard Todd Schwartz sold 103,905 shares of Rush Street Interactive stock. The shares were sold at an average price of $11.02, for a total transaction of $1,145,033.10.

Rush Street Interactive Trading Up 9.5 %

Rush Street Interactive stock opened at $13.37 on Friday. The company has a market cap of $3.02 billion, a PE ratio of -668.25 and a beta of 1.78. Rush Street Interactive, Inc. has a 1 year low of $3.56 and a 1 year high of $13.71. The company’s 50-day moving average is $10.89 and its two-hundred day moving average is $9.81.

Hedge Funds Weigh In On Rush Street Interactive

Several large investors have recently bought and sold shares of RSI. Driehaus Capital Management LLC acquired a new stake in Rush Street Interactive during the 2nd quarter worth $10,605,000. Assenagon Asset Management S.A. boosted its position in shares of Rush Street Interactive by 157.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,425,016 shares of the company’s stock worth $13,666,000 after purchasing an additional 872,367 shares during the last quarter. Marshall Wace LLP grew its stake in shares of Rush Street Interactive by 185.5% during the second quarter. Marshall Wace LLP now owns 981,822 shares of the company’s stock worth $9,416,000 after purchasing an additional 637,883 shares during the period. Millennium Management LLC increased its holdings in Rush Street Interactive by 378.4% in the second quarter. Millennium Management LLC now owns 620,552 shares of the company’s stock valued at $5,951,000 after purchasing an additional 490,831 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Rush Street Interactive by 47.3% in the second quarter. Renaissance Technologies LLC now owns 1,504,200 shares of the company’s stock valued at $14,425,000 after buying an additional 482,872 shares during the period. 24.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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