Rush Street Interactive (NYSE:RSI) Stock Price Down 6.6% – What’s Next?

Rush Street Interactive, Inc. (NYSE:RSI)’s share price traded down 6.6% during mid-day trading on Tuesday . The company traded as low as $10.04 and last traded at $10.14. 743,875 shares were traded during trading, a decline of 54% from the average session volume of 1,615,504 shares. The stock had previously closed at $10.86.

Analyst Ratings Changes

Several analysts have recently weighed in on RSI shares. Craig Hallum lifted their price objective on shares of Rush Street Interactive from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Oppenheimer raised their target price on Rush Street Interactive from $10.00 to $14.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Wells Fargo & Company upped their price target on Rush Street Interactive from $11.00 to $13.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Needham & Company LLC increased their target price on Rush Street Interactive from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Jefferies Financial Group boosted their price target on shares of Rush Street Interactive from $15.00 to $16.00 and gave the company 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 stock. According to data from MarketBeat.com, Rush Street Interactive has an average rating of “Moderate Buy” and a consensus target price of $12.43.

Rush Street Interactive Trading Down 6.1 %

The stock’s fifty day simple moving average is $10.32 and its 200-day simple moving average is $9.40. The stock has a market capitalization of $2.30 billion, a PE ratio of -510.00 and a beta of 1.78.

Insider Buying and Selling at Rush Street Interactive

In related news, Director Judith Gold sold 150,000 shares of Rush Street Interactive stock in a transaction on Friday, August 9th. The stock was sold at an average price of $9.50, for a total transaction of $1,425,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Rush Street Interactive news, Director Judith Gold sold 150,000 shares of Rush Street Interactive stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $9.50, for a total value of $1,425,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Paul Wierbicki sold 20,437 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $9.53, for a total transaction of $194,764.61. Following the sale, the insider now owns 174,982 shares of the company’s stock, valued at approximately $1,667,578.46. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 360,935 shares of company stock worth $3,395,534. Insiders own 56.89% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Driehaus Capital Management LLC bought a new position in Rush Street Interactive during the second quarter worth about $10,605,000. Assenagon Asset Management S.A. boosted its holdings in shares of Rush Street Interactive by 157.9% in the second quarter. Assenagon Asset Management S.A. now owns 1,425,016 shares of the company’s stock worth $13,666,000 after acquiring an additional 872,367 shares during the period. Marshall Wace LLP raised its stake in shares of Rush Street Interactive by 185.5% during the 2nd quarter. Marshall Wace LLP now owns 981,822 shares of the company’s stock valued at $9,416,000 after purchasing an additional 637,883 shares during the period. Millennium Management LLC boosted its stake in Rush Street Interactive by 378.4% in the 2nd 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 during the period. Finally, Renaissance Technologies LLC increased its position in shares of Rush Street Interactive by 47.3% during the second quarter. Renaissance Technologies LLC now owns 1,504,200 shares of the company’s stock valued at $14,425,000 after buying an additional 482,872 shares during the period. 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.