Rush Street Interactive (NYSE:RSI) Shares Gap Down – Should You Sell?

Rush Street Interactive, Inc. (NYSE:RSI) shares gapped down before the market opened on Thursday . The stock had previously closed at $13.30, but opened at $12.50. Rush Street Interactive shares last traded at $11.69, with a volume of 1,047,941 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on RSI shares. Susquehanna lifted their price objective on Rush Street Interactive from $12.00 to $14.00 and gave the company a “neutral” rating in a research note on Tuesday. Jefferies Financial Group raised their price target on shares of Rush Street Interactive from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Needham & Company LLC reaffirmed a “buy” rating and set a $17.00 price objective on shares of Rush Street Interactive in a research report on Thursday. Craig Hallum increased 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. Finally, Wells Fargo & Company boosted their target price on Rush Street Interactive from $14.00 to $15.00 and gave the stock an “overweight” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $15.67.

Rush Street Interactive Stock Down 11.3 %

The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of -590.60 and a beta of 1.88. The company has a fifty day moving average price of $14.43 and a two-hundred day moving average price of $12.26.

Insider Buying and Selling

In related news, insider Paul Wierbicki sold 7,500 shares of the stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $15.00, for a total transaction of $112,500.00. Following the completion of the sale, the insider now directly owns 139,387 shares of the company’s stock, valued at $2,090,805. This trade represents a 5.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Einar Roosileht sold 48,968 shares of Rush Street Interactive stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $14.04, for a total transaction of $687,510.72. Following the completion of the transaction, the insider now owns 830,292 shares in the company, valued at approximately $11,657,299.68. This trade represents a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 825,853 shares of company stock worth $11,655,336 in the last 90 days. Company insiders own 56.89% of the company’s stock.

Institutional Trading of Rush Street Interactive

Several hedge funds have recently made changes to their positions in RSI. R Squared Ltd purchased a new position in Rush Street Interactive during the fourth quarter worth about $28,000. Heck Capital Advisors LLC acquired a new position in Rush Street Interactive during the 4th quarter worth approximately $34,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Rush Street Interactive during the 3rd quarter worth approximately $44,000. WealthTrak Capital Management LLC acquired a new stake in shares of Rush Street Interactive in the 4th quarter valued at approximately $71,000. Finally, Point72 DIFC Ltd purchased a new stake in shares of Rush Street Interactive in the third quarter valued at approximately $70,000. Institutional investors and hedge funds 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.