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 Rush Street Interactive stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $11.67, for a total transaction of $816,900.00. Following the sale, the insider now owns 946,150 shares of the company's stock, valued at $11,041,570.50. The trade was a 6.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, February 3rd, Einar Roosileht sold 70,000 shares of Rush Street Interactive stock. The shares were sold at an average price of $14.41, for a total transaction of $1,008,700.00.
• On Thursday, January 2nd, Einar Roosileht sold 48,968 shares of Rush Street Interactive stock. The stock was sold at an average price of $14.04, for a total transaction of $687,510.72.

Rush Street Interactive Stock Performance

RSI stock traded up $0.03 during midday trading on Friday, reaching $10.56. 2,277,790 shares of the company were exchanged, compared to its average volume of 2,213,452. Rush Street Interactive, Inc. has a 1-year low of $5.67 and a 1-year high of $16.78. The stock's 50-day simple moving average is $14.10 and its 200 day simple moving average is $12.35. The company has a market cap of $2.38 billion, a price-to-earnings ratio of -527.75 and a beta of 1.92.

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Analyst Ratings Changes

Several research analysts recently commented on RSI shares. Jefferies Financial Group boosted their price objective 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. Wells Fargo & Company upped their price objective on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company an "overweight" rating in a report on Thursday, February 27th. JMP Securities reaffirmed a "market perform" rating on shares of Rush Street Interactive in a report on Monday, January 6th. Macquarie reissued an "outperform" rating and set a $16.00 price target on shares of Rush Street Interactive in a report on Thursday, February 27th. Finally, Benchmark increased their price target on shares of Rush Street Interactive from $12.00 to $14.00 and gave the stock a "buy" rating in a report on Friday, February 28th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Rush Street Interactive presently has an average rating of "Buy" and a consensus price target of $15.50.

Hedge Funds Weigh In On Rush Street Interactive

A number of institutional investors have recently modified their holdings of the business. Heck Capital Advisors LLC purchased a new position in Rush Street Interactive in the 4th quarter valued at $34,000. Mackenzie Financial Corp acquired a new position in shares of Rush Street Interactive during the 4th quarter worth $1,123,000. PharVision Advisers LLC acquired a new position in shares of Rush Street Interactive during the 4th quarter worth $400,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Rush Street Interactive by 171.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 163,966 shares of the company's stock worth $2,250,000 after buying an additional 103,546 shares during the last quarter. Finally, Voloridge Investment Management LLC raised its stake in shares of Rush Street Interactive by 1,084.0% during the 4th quarter. Voloridge Investment Management LLC now owns 194,033 shares of the company's stock worth $2,662,000 after buying an additional 177,645 shares during the last quarter. 24.78% of the stock is owned by institutional investors and hedge funds.

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.