Rush Street Interactive (NYSE:RSI) Shares Down 6.6% – Time to Sell?

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Craig Hallum raised their price objective 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. Wells Fargo & Company boosted their target price on shares of Rush Street Interactive from $11.00 to $13.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Needham & Company LLC raised their price target on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Oppenheimer boosted their price objective on shares of Rush Street Interactive from $10.00 to $14.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Finally, Jefferies Financial Group lifted 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 report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Rush Street Interactive has a consensus rating of “Moderate Buy” and an average target price of $12.43.

Rush Street Interactive Stock Performance

The stock’s fifty day moving average price is $10.32 and its two-hundred day moving average price is $9.40. The company has a market cap of $2.30 billion, a P/E ratio of -510.00 and a beta of 1.78.

Insider Buying and Selling at Rush Street Interactive

In related news, CEO Richard Todd Schwartz sold 40,498 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $10.18, for a total transaction of $412,269.64. Following the completion of the sale, the chief executive officer now directly owns 1,862,997 shares in the company, valued at $18,965,309.46. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Rush Street Interactive news, Director Judith Gold sold 150,000 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $9.50, for a total value of $1,425,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard Todd Schwartz sold 40,498 shares of Rush Street Interactive stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $10.18, for a total value of $412,269.64. Following the sale, the chief executive officer now directly owns 1,862,997 shares in the company, valued at $18,965,309.46. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 360,935 shares of company stock valued at $3,395,534. 56.89% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rush Street Interactive

Hedge funds have recently added to or reduced their stakes in the business. GSA Capital Partners LLP lifted its holdings in shares of Rush Street Interactive by 42.6% during the third quarter. GSA Capital Partners LLP now owns 279,367 shares of the company’s stock worth $3,031,000 after purchasing an additional 83,436 shares during the period. Entropy Technologies LP bought a new stake in shares of Rush Street Interactive in the 3rd quarter valued at about $175,000. Los Angeles Capital Management LLC acquired a new stake in shares of Rush Street Interactive in the third quarter valued at about $1,795,000. Mesirow Financial Investment Management Inc. raised its position in shares of Rush Street Interactive by 7.3% during the third quarter. Mesirow Financial Investment Management Inc. now owns 25,727 shares of the company’s stock worth $279,000 after acquiring an additional 1,745 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Rush Street Interactive by 656.2% in the third quarter. Principal Financial Group Inc. now owns 77,658 shares of the company’s stock valued at $843,000 after acquiring an additional 67,388 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.