Insider Selling: Rush Street Interactive, Inc. (NYSE:RSI) Insider Sells 48,968 Shares of Stock

Rush Street Interactive, Inc. (NYSE:RSI) insider Einar Roosileht sold 48,968 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $14.04, for a total transaction of $687,510.72. Following the completion of the sale, the insider now owns 830,292 shares in the company, valued at $11,657,299.68. This represents a 5.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Rush Street Interactive Stock Up 3.7 %

Shares of RSI stock traded up $0.51 during mid-day trading on Friday, hitting $14.25. 1,592,737 shares of the company’s stock were exchanged, compared to its average volume of 2,006,019. The stock has a market cap of $3.22 billion, a price-to-earnings ratio of -712.50 and a beta of 1.88. Rush Street Interactive, Inc. has a fifty-two week low of $3.56 and a fifty-two week high of $14.92. The stock has a 50-day simple moving average of $12.76 and a two-hundred day simple moving average of $10.86.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on RSI shares. Needham & Company LLC upped 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. Jefferies Financial Group upped their price objective on Rush Street Interactive from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Craig Hallum lifted their price objective on Rush Street Interactive from $14.00 to $17.00 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 company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $12.43.

Institutional Trading of Rush Street Interactive

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RSI. Geode Capital Management LLC boosted 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 valued at $18,843,000 after purchasing an additional 92,314 shares during the last quarter. State Street Corp boosted its holdings in Rush Street Interactive by 3.6% in the third quarter. State Street Corp now owns 1,612,892 shares of the company’s stock valued at $17,500,000 after acquiring an additional 55,697 shares during the last quarter. Renaissance Technologies LLC boosted its holdings 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 acquiring an additional 482,872 shares during the last quarter. Federated Hermes Inc. grew its position in Rush Street Interactive by 10.9% during the second quarter. Federated Hermes Inc. now owns 1,329,825 shares of the company’s stock valued at $12,753,000 after acquiring an additional 130,217 shares during the period. Finally, Driehaus Capital Management LLC acquired a new stake in Rush Street Interactive during the second quarter worth about $10,605,000. Hedge funds and other institutional investors own 24.78% of the company’s stock.

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.