Rush Street Interactive, Inc. (NYSE:RSI) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Rush Street Interactive, Inc. (NYSE:RSI) have been given an average recommendation of “Moderate Buy” by the seven ratings firms that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $12.43.

Several research firms have weighed in on RSI. Craig Hallum boosted their target price 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 boosted their price objective on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Jefferies Financial Group upped their target price 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.

Rush Street Interactive Stock Performance

Shares of RSI stock opened at $14.25 on Wednesday. Rush Street Interactive has a fifty-two week low of $3.56 and a fifty-two week high of $14.92. The firm has a market capitalization of $3.22 billion, a price-to-earnings ratio of -712.50 and a beta of 1.88. The stock’s 50-day simple moving average is $12.84 and its 200-day simple moving average is $10.91.

Insider Buying and Selling

In other news, insider Einar Roosileht sold 48,968 shares of the firm’s 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 sale, the insider now owns 830,292 shares of the company’s stock, valued at $11,657,299.68. This trade represents a 5.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard Todd Schwartz sold 103,905 shares of Rush Street Interactive stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $11.02, for a total transaction of $1,145,033.10. Following the transaction, the chief executive officer now directly owns 1,703,578 shares of the company’s stock, valued at approximately $18,773,429.56. This trade represents a 5.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 542,106 shares of company stock valued at $6,757,094 over the last 90 days. Insiders own 56.89% of the company’s stock.

Institutional Trading of Rush Street Interactive

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RSI. Driehaus Capital Management LLC acquired a new position in shares of Rush Street Interactive in the second quarter worth about $10,605,000. Marshall Wace LLP raised its holdings in Rush Street Interactive by 185.5% in the 2nd 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 boosted its position in Rush Street Interactive by 378.4% during the second 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 in the last quarter. Renaissance Technologies LLC boosted its position in Rush Street Interactive by 47.3% during the second quarter. Renaissance Technologies LLC now owns 1,504,200 shares of the company’s stock worth $14,425,000 after purchasing an additional 482,872 shares in the last quarter. Finally, Caprock Group LLC acquired a new stake in Rush Street Interactive in the third quarter valued at approximately $4,178,000. 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.