Rush Street Interactive (NYSE:RSI) Stock Price Down 4.9% – Here’s What Happened

Rush Street Interactive, Inc. (NYSE:RSI) fell 4.9% on Friday . The company traded as low as $13.72 and last traded at $13.68. 487,232 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 1,589,902 shares. The stock had previously closed at $14.39.

Analysts Set New Price Targets

RSI has been the topic of a number of analyst reports. JMP Securities reiterated a “market perform” rating on shares of Rush Street Interactive in a research note on Monday, January 6th. Needham & Company LLC boosted their price objective on shares of Rush Street Interactive from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Jefferies Financial Group raised their target price on Rush Street Interactive from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Finally, Craig Hallum boosted their price target on Rush Street Interactive from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Rush Street Interactive currently has a consensus rating of “Moderate Buy” and an average target price of $14.00.

Rush Street Interactive Trading Down 3.2 %

The company’s 50-day moving average price is $13.93 and its two-hundred day moving average price is $11.47. The company has a market cap of $3.14 billion, a P/E ratio of -696.15 and a beta of 1.88.

Insider Activity at Rush Street Interactive

In other Rush Street Interactive news, CEO Richard Todd Schwartz sold 4,419 shares of Rush Street Interactive stock in a transaction on Monday, January 13th. The shares were sold at an average price of $13.75, for a total value of $60,761.25. Following the completion of the transaction, the chief executive officer now owns 2,392,587 shares of the company’s stock, valued at $32,898,071.25. The trade was a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Kyle Sauers sold 25,934 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $12.30, for a total transaction of $318,988.20. Following the sale, the chief financial officer now directly owns 338,614 shares in the company, valued at $4,164,952.20. This trade represents a 7.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 884,287 shares of company stock valued at $11,632,978 over the last three months. 56.89% of the stock is owned by insiders.

Hedge Funds Weigh In On Rush Street Interactive

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC lifted 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 last quarter. State Street Corp increased its position 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 worth $17,500,000 after buying an additional 55,697 shares during the period. Driehaus Capital Management LLC bought a new stake in Rush Street Interactive in the second quarter valued at $10,605,000. Marshall Wace LLP boosted its holdings in shares of Rush Street Interactive by 185.5% during 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 period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Rush Street Interactive by 72.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 820,955 shares of the company’s stock worth $8,907,000 after acquiring an additional 344,276 shares during the last quarter. 24.78% of the stock is currently 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.