Insider Selling: Rush Street Interactive, Inc. (NYSE:RSI) Insider Sells 35,000 Shares of Stock

Rush Street Interactive, Inc. (NYSE:RSI) insider Paul Wierbicki sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $11.23, for a total value of $393,050.00. Following the completion of the transaction, the insider now owns 139,982 shares in the company, valued at $1,571,997.86. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Rush Street Interactive Trading Up 4.4 %

Shares of RSI traded up $0.51 during trading hours on Tuesday, reaching $12.10. 4,083,469 shares of the stock traded hands, compared to its average volume of 1,671,711. The stock has a fifty day simple moving average of $10.49 and a 200 day simple moving average of $9.57. The company has a market cap of $2.73 billion, a price-to-earnings ratio of -590.50 and a beta of 1.78. Rush Street Interactive, Inc. has a 52 week low of $3.56 and a 52 week high of $12.18.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on RSI shares. Craig Hallum boosted their target price 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. Jefferies Financial Group raised their price objective on Rush Street Interactive from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Oppenheimer raised their price objective on shares of Rush Street Interactive from $10.00 to $14.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Wells Fargo & Company lifted their price objective on shares of Rush Street Interactive from $11.00 to $13.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Finally, Needham & Company LLC boosted their price objective on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company a “buy” rating in a 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 data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $12.43.

Institutional Investors Weigh In On Rush Street Interactive

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Algert Global LLC lifted its holdings in shares of Rush Street Interactive by 117.6% during the third quarter. Algert Global LLC now owns 510,361 shares of the company’s stock worth $5,537,000 after purchasing an additional 275,788 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Rush Street Interactive by 26.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 741,862 shares of the company’s stock valued at $8,049,000 after purchasing an additional 154,785 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of Rush Street Interactive in the 3rd quarter valued at approximately $192,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Rush Street Interactive by 72.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 820,955 shares of the company’s stock valued at $8,907,000 after acquiring an additional 344,276 shares in the last quarter. Finally, Caprock Group LLC acquired a new stake in Rush Street Interactive during the third quarter worth about $4,178,000. 24.78% of the stock is owned by hedge funds and other institutional investors.

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.