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

Rush Street Interactive, Inc. (NYSE:RSI) has been assigned an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the firm, 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 12 month price target among brokerages that have issued ratings on the stock in the last year is $12.43.

A number of research analysts have issued reports on the stock. Craig Hallum raised their price target on shares of Rush Street Interactive from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Jefferies Financial Group upped their target price 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. Finally, Needham & Company LLC raised their target price on Rush Street Interactive from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st.

Rush Street Interactive Stock Down 0.7 %

RSI opened at $13.57 on Friday. The company has a market cap of $3.06 billion, a P/E ratio of -678.50 and a beta of 1.88. The firm’s 50-day moving average price is $12.01 and its 200-day moving average price is $10.41. Rush Street Interactive has a 52-week low of $3.56 and a 52-week high of $14.92.

Insiders Place Their Bets

In related news, CFO Kyle Sauers sold 25,934 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $12.30, for a total transaction of $318,988.20. Following the sale, the chief financial officer now owns 338,614 shares in the company, valued at approximately $4,164,952.20. This trade represents a 7.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard Todd Schwartz sold 103,905 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $11.02, for a total transaction of $1,145,033.10. Following the completion of the transaction, the chief executive officer now owns 1,703,578 shares of the company’s stock, valued at approximately $18,773,429.56. This trade represents a 5.75 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 357,595 shares of company stock valued at $4,224,380. Company insiders own 56.89% of the company’s stock.

Institutional Trading of Rush Street Interactive

Several institutional investors have recently modified their holdings of the stock. Millrace Asset Group Inc. purchased a new position in Rush Street Interactive in the 3rd quarter valued at about $2,135,000. Vanguard Group Inc. lifted its position in shares of Rush Street Interactive by 1.6% in the first quarter. Vanguard Group Inc. now owns 5,481,219 shares of the company’s stock valued at $35,683,000 after acquiring an additional 85,736 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Rush Street Interactive by 656.2% in the third quarter. Principal Financial Group Inc. now owns 77,658 shares of the company’s stock worth $843,000 after acquiring an additional 67,388 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Rush Street Interactive during the second quarter worth approximately $1,565,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Rush Street Interactive by 72.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 820,955 shares of the company’s stock valued at $8,907,000 after purchasing an additional 344,276 shares during the last quarter. 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.