Rush Street Interactive (NYSE:RSI) Trading Down 4.8% – Here’s What Happened

Rush Street Interactive, Inc. (NYSE:RSI)’s stock price was down 4.8% during mid-day trading on Tuesday . The company traded as low as $15.75 and last traded at $15.89. Approximately 692,860 shares were traded during trading, a decline of 63% from the average daily volume of 1,869,866 shares. The stock had previously closed at $16.70.

Wall Street Analysts Forecast Growth

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

Rush Street Interactive Trading Down 3.8 %

The company has a market capitalization of $3.63 billion, a price-to-earnings ratio of -803.25 and a beta of 1.88. The firm’s 50 day simple moving average is $14.39 and its 200-day simple moving average is $12.08.

Insider Transactions at Rush Street Interactive

In other news, CEO Richard Todd Schwartz sold 133,905 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $14.22, for a total transaction of $1,904,129.10. Following the sale, the chief executive officer now owns 2,251,943 shares of the company’s stock, valued at $32,022,629.46. The trade was a 5.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kyle Sauers sold 146,015 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $13.91, for a total value of $2,031,068.65. Following the completion of the transaction, the chief financial officer now directly owns 433 shares of the company’s stock, valued at $6,023.03. The trade was a 99.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 838,353 shares of company stock valued at $11,820,336 in the last ninety days. 56.89% of the stock is currently owned by company insiders.

Institutional Trading of Rush Street Interactive

Several institutional investors and hedge funds have recently modified their holdings of the business. PharVision Advisers LLC purchased a new stake in shares of Rush Street Interactive during the fourth quarter worth about $400,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Rush Street Interactive by 171.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 163,966 shares of the company’s stock worth $2,250,000 after acquiring an additional 103,546 shares during the period. Voloridge Investment Management LLC raised its holdings in Rush Street Interactive by 1,084.0% in the 4th quarter. Voloridge Investment Management LLC now owns 194,033 shares of the company’s stock valued at $2,662,000 after acquiring an additional 177,645 shares during the last quarter. Two Sigma Investments LP purchased a new position in shares of Rush Street Interactive during the 4th quarter worth $783,000. Finally, Two Sigma Advisers LP boosted its holdings in shares of Rush Street Interactive by 545.6% during the fourth quarter. Two Sigma Advisers LP now owns 73,600 shares of the company’s stock worth $1,010,000 after purchasing an additional 62,200 shares during the last quarter. Hedge funds and other institutional investors 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.