Rush Street Interactive, Inc. (NYSE:RSI) Receives $12.43 Average PT from Analysts

Shares of Rush Street Interactive, Inc. (NYSE:RSI) have received a consensus rating of “Moderate Buy” from the seven ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $12.43.

Several analysts have issued reports on RSI shares. 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 report on Thursday, October 31st. Craig Hallum upped their price objective on shares of Rush Street Interactive from $14.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Needham & Company LLC lifted their target price on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st.

Insider Buying and Selling

In other news, CEO Richard Todd Schwartz sold 103,905 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $11.02, for a total value of $1,145,033.10. Following the sale, the chief executive officer now directly owns 1,703,578 shares of the company’s stock, valued at approximately $18,773,429.56. The trade was a 5.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Mattias Stetz sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $12.00, for a total transaction of $60,000.00. Following the completion of the transaction, the chief operating officer now owns 575,484 shares in the company, valued at approximately $6,905,808. This represents a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 357,595 shares of company stock valued at $4,224,380. 56.89% of the stock is currently owned by insiders.

Institutional Trading of Rush Street Interactive

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Rush Street Interactive during the third quarter worth $44,000. Point72 DIFC Ltd purchased a new position in Rush Street Interactive during the 3rd quarter valued at about $70,000. New York State Teachers Retirement System grew its position in Rush Street Interactive by 17.2% in the 3rd quarter. New York State Teachers Retirement System now owns 6,938 shares of the company’s stock valued at $75,000 after acquiring an additional 1,020 shares in the last quarter. Quarry LP increased its stake in Rush Street Interactive by 15.9% during the second quarter. Quarry LP now owns 8,762 shares of the company’s stock worth $84,000 after purchasing an additional 1,200 shares during the period. Finally, CWM LLC lifted its position in shares of Rush Street Interactive by 425.6% during the third quarter. CWM LLC now owns 9,209 shares of the company’s stock worth $100,000 after purchasing an additional 7,457 shares in the last quarter. Hedge funds and other institutional investors own 24.78% of the company’s stock.

Rush Street Interactive Price Performance

RSI stock opened at $13.57 on Friday. Rush Street Interactive has a 1 year low of $3.56 and a 1 year high of $14.92. The firm has a market capitalization of $3.06 billion, a PE ratio of -678.50 and a beta of 1.88. The business has a 50 day simple moving average of $12.01 and a 200-day simple moving average of $10.41.

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.