Rush Street Interactive, Inc. (NYSE:RSI) Receives Consensus Rating of "Moderate Buy" from Analysts

Rush Street Interactive, Inc. (NYSE:RSI - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the seven ratings firms that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $12.43.

A number of equities 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 stock a "buy" rating in a research note on Thursday, October 31st. Oppenheimer boosted their target price on shares of Rush Street Interactive from $10.00 to $14.00 and gave the company an "outperform" rating in a report on Thursday, August 1st. Wells Fargo & Company upped their price target on shares of Rush Street Interactive from $11.00 to $13.00 and gave the stock an "overweight" rating in a report on Thursday, August 1st. Needham & Company LLC upped their target price on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Finally, Jefferies Financial Group upped their target price on shares of Rush Street Interactive from $15.00 to $16.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st.

Insider Buying and Selling

In related news, insider Einar Roosileht sold 150,000 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $9.09, for a total value of $1,363,500.00. Following the completion of the transaction, the insider now directly owns 809,260 shares of the company's stock, valued at $7,356,173.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 56.89% of the stock is owned by insiders.

Hedge Funds Weigh In On Rush Street Interactive

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Rush Street Interactive by 1.6% during the first quarter. Vanguard Group Inc. now owns 5,481,219 shares of the company's stock valued at $35,683,000 after buying an additional 85,736 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Rush Street Interactive in the second quarter worth approximately $1,565,000. Acadian Asset Management LLC purchased a new stake in Rush Street Interactive in the second quarter worth approximately $587,000. Driehaus Capital Management LLC purchased a new stake in Rush Street Interactive in the second quarter worth approximately $10,605,000. Finally, Millennium Management LLC boosted its holdings in Rush Street Interactive by 378.4% in the second quarter. Millennium Management LLC now owns 620,552 shares of the company's stock worth $5,951,000 after purchasing an additional 490,831 shares during the last quarter. Institutional investors own 24.78% of the company's stock.

Rush Street Interactive Stock Up 1.6 %

RSI stock traded up $0.18 during mid-day trading on Tuesday, reaching $11.77. 1,715,652 shares of the company traded hands, compared to its average volume of 1,660,901. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of -590.50 and a beta of 1.78. Rush Street Interactive has a fifty-two week low of $3.56 and a fifty-two week high of $11.99. The firm's 50 day moving average price is $10.49 and its 200 day moving average price is $9.57.

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.