Rush Street Interactive, Inc. (NYSE:RSI) Receives Average Rating of “Moderate Buy” from Analysts

Rush Street Interactive, Inc. (NYSE:RSI) has earned an average recommendation of “Moderate Buy” from the seven brokerages that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $14.00.

RSI has been the subject of a number of research reports. Craig Hallum increased their price objective on Rush Street Interactive from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Needham & Company LLC increased their price objective on 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 increased their price objective on Rush Street Interactive from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Finally, JMP Securities reiterated a “market perform” rating on shares of Rush Street Interactive in a report on Monday, January 6th.

Insider Transactions at Rush Street Interactive

In other Rush Street Interactive news, CFO Kyle Sauers sold 146,015 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $13.91, for a total transaction of $2,031,068.65. Following the transaction, the chief financial officer now owns 433 shares in the company, valued at $6,023.03. This trade represents a 99.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard Todd Schwartz sold 45,256 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $13.51, for a total value of $611,408.56. Following the transaction, the chief executive officer now owns 1,762,227 shares in the company, valued at approximately $23,807,686.77. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 833,353 shares of company stock worth $11,760,336. Company insiders own 56.89% of the company’s stock.

Hedge Funds Weigh In On Rush Street Interactive

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Rush Street Interactive by 14.0% during the 4th quarter. Vanguard Group Inc. now owns 8,596,434 shares of the company’s stock worth $117,943,000 after acquiring an additional 1,056,583 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in Rush Street Interactive by 62.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,663,246 shares of the company’s stock worth $36,540,000 after acquiring an additional 1,018,889 shares during the period. Driehaus Capital Management LLC increased its stake in Rush Street Interactive by 56.6% during the 4th quarter. Driehaus Capital Management LLC now owns 2,200,517 shares of the company’s stock worth $30,191,000 after acquiring an additional 795,719 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Rush Street Interactive by 7,958.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,029,239 shares of the company’s stock worth $27,843,000 after acquiring an additional 2,004,059 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Rush Street Interactive by 43.9% during the 4th quarter. Renaissance Technologies LLC now owns 1,962,400 shares of the company’s stock worth $26,924,000 after acquiring an additional 598,300 shares during the period. Institutional investors own 24.78% of the company’s stock.

Rush Street Interactive Stock Performance

NYSE:RSI opened at $15.51 on Thursday. The company has a market cap of $3.50 billion, a PE ratio of -775.25 and a beta of 1.88. Rush Street Interactive has a 52-week low of $5.22 and a 52-week high of $16.78. The stock has a 50-day simple moving average of $14.42 and a 200 day simple moving average of $12.11.

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.