Rush Street Interactive, Inc. (NYSE:RSI) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Rush Street Interactive, Inc. (NYSE:RSI) have received an average rating of “Buy” from the nine ratings firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $15.50.

A number of research analysts have recently issued reports on the stock. JMP Securities reaffirmed a “market perform” rating on shares of Rush Street Interactive in a research report on Monday, January 6th. Macquarie reaffirmed an “outperform” rating and issued a $16.00 price objective on shares of Rush Street Interactive in a research report on Thursday, February 27th. Wells Fargo & Company lifted their price objective on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Benchmark boosted their target price on shares of Rush Street Interactive from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Finally, Susquehanna raised shares of Rush Street Interactive from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 28th.

Rush Street Interactive Stock Up 11.0 %

Shares of Rush Street Interactive stock opened at $10.75 on Monday. The firm’s 50 day moving average price is $13.73 and its 200-day moving average price is $12.41. Rush Street Interactive has a 52-week low of $5.71 and a 52-week high of $16.78. The company has a market cap of $2.45 billion, a P/E ratio of -537.25 and a beta of 1.92.

Insider Activity

In related news, Director Judith Gold sold 118,001 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $13.55, for a total value of $1,598,913.55. Following the completion of the transaction, the director now directly owns 21,999 shares in the company, valued at $298,086.45. The trade was a 84.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Richard Todd Schwartz sold 149,605 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $14.61, for a total transaction of $2,185,729.05. Following the completion of the transaction, the chief executive officer now owns 2,151,648 shares of the company’s stock, valued at approximately $31,435,577.28. This represents a 6.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 960,164 shares of company stock valued at $12,870,812 in the last ninety days. Insiders own 56.89% of the company’s stock.

Hedge Funds Weigh In On Rush Street Interactive

Large investors have recently made changes to their positions in the company. R Squared Ltd acquired a new position in shares of Rush Street Interactive in the 4th quarter valued at $28,000. Heck Capital Advisors LLC acquired a new position in shares of Rush Street Interactive in the 4th quarter valued at $34,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Rush Street Interactive during the third quarter worth $44,000. WealthTrak Capital Management LLC acquired a new position in Rush Street Interactive during the fourth quarter worth $71,000. Finally, Point72 DIFC Ltd acquired a new position in Rush Street Interactive during the third quarter worth $70,000. 24.78% of the stock is currently owned by institutional investors and hedge funds.

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.