Insider Selling: Rush Street Interactive, Inc. (NYSE:RSI) COO Sells 17,542 Shares of Stock

Rush Street Interactive, Inc. (NYSE:RSI) COO Mattias Stetz sold 17,542 shares of Rush Street Interactive stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $14.04, for a total value of $246,289.68. Following the sale, the chief operating officer now directly owns 532,942 shares in the company, valued at $7,482,505.68. The trade was a 3.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Mattias Stetz also recently made the following trade(s):

• On Monday, December 2nd, Mattias Stetz sold 25,000 shares of Rush Street Interactive stock. The shares were sold at an average price of $14.50, for a total value of $362,500.00.
• On Wednesday, November 20th, Mattias Stetz sold 5,000 shares of Rush Street Interactive stock. The shares were sold at an average price of $12.00, for a total transaction of $60,000.00.
• On Friday, November 15th, Mattias Stetz sold 20,000 shares of Rush Street Interactive stock. The shares were sold at an average price of $11.02, for a total transaction of $220,400.00.

Rush Street Interactive Stock Performance

NYSE RSI opened at $14.25 on Friday. The stock has a market capitalization of $3.22 billion, a P/E ratio of -712.50 and a beta of 1.88. Rush Street Interactive, Inc. has a 52 week low of $3.56 and a 52 week high of $14.92. The stock has a fifty day moving average of $12.84 and a 200-day moving average of $10.90.

Institutional Trading of Rush Street Interactive

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Driehaus Capital Management LLC acquired a new position in Rush Street Interactive during the 2nd quarter valued at about $10,605,000. Marshall Wace LLP boosted its stake in Rush Street Interactive by 185.5% in the second quarter. Marshall Wace LLP now owns 981,822 shares of the company’s stock valued at $9,416,000 after acquiring an additional 637,883 shares during the last quarter. Millennium Management LLC grew its holdings in Rush Street Interactive by 378.4% during the 2nd quarter. Millennium Management LLC now owns 620,552 shares of the company’s stock worth $5,951,000 after acquiring an additional 490,831 shares during the period. Renaissance Technologies LLC raised its position in shares of Rush Street Interactive by 47.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,504,200 shares of the company’s stock valued at $14,425,000 after acquiring an additional 482,872 shares during the last quarter. Finally, Caprock Group LLC acquired a new position in shares of Rush Street Interactive in the 3rd quarter valued at $4,178,000. 24.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Craig Hallum raised their price target on Rush Street Interactive from $14.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Needham & Company LLC raised their target price on Rush Street Interactive from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Jefferies Financial Group upped their price target on shares of Rush Street Interactive from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.