Insider Selling: Rush Street Interactive, Inc. (NYSE:RSI) Insider Sells 70,000 Shares of Stock

Rush Street Interactive, Inc. (NYSE:RSI - Get Free Report) insider Einar Roosileht sold 70,000 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $14.41, for a total transaction of $1,008,700.00. Following the completion of the transaction, the insider now owns 946,150 shares in the company, valued at approximately $13,634,021.50. This represents a 6.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Einar Roosileht also recently made the following trade(s):

• On Thursday, January 2nd, Einar Roosileht sold 48,968 shares of Rush Street Interactive stock. The shares were sold at an average price of $14.04, for a total transaction of $687,510.72.

Rush Street Interactive Stock Down 2.2 %

Shares of RSI traded down $0.32 during trading hours on Friday, reaching $14.07. 3,215,940 shares of the company traded hands, compared to its average volume of 1,648,963. The stock has a market capitalization of $3.18 billion, a PE ratio of -703.40 and a beta of 1.88. Rush Street Interactive, Inc. has a fifty-two week low of $5.22 and a fifty-two week high of $15.98. The stock has a fifty day simple moving average of $14.15 and a 200 day simple moving average of $11.80.

Wall Street Analyst Weigh In

A number of brokerages have commented on RSI. Jefferies Financial Group increased their price objective on shares of Rush Street Interactive from $16.00 to $17.00 and gave the company a "buy" rating in a research report on Wednesday, January 15th. JMP Securities reaffirmed a "market perform" rating on shares of Rush Street Interactive in a research report on Monday, January 6th. Needham & Company LLC increased their target price on shares of Rush Street Interactive from $15.00 to $17.00 and gave the company a "buy" rating in a research report on Friday, January 17th. Finally, Craig Hallum increased their target price on shares of Rush Street Interactive from $14.00 to $17.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $14.00.

Institutional Trading of Rush Street Interactive

A number of large investors have recently made changes to their positions in the stock. Geode Capital Management LLC raised its holdings in shares of Rush Street Interactive by 5.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,736,259 shares of the company's stock worth $18,843,000 after purchasing an additional 92,314 shares during the period. State Street Corp raised its holdings in shares of Rush Street Interactive by 3.6% in the 3rd quarter. State Street Corp now owns 1,612,892 shares of the company's stock worth $17,500,000 after purchasing an additional 55,697 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Rush Street Interactive by 18.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 879,563 shares of the company's stock worth $12,068,000 after purchasing an additional 137,701 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Rush Street Interactive by 72.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 820,955 shares of the company's stock worth $8,907,000 after purchasing an additional 344,276 shares during the period. Finally, Millennium Management LLC raised its holdings in shares of Rush Street Interactive by 378.4% in the 2nd quarter. Millennium Management LLC now owns 620,552 shares of the company's stock worth $5,951,000 after purchasing an additional 490,831 shares during the period. Institutional investors and hedge funds own 24.78% of the company's stock.

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.