Rush Street Interactive, Inc. (NYSE:RSI) Receives Average Recommendation of "Buy" from Brokerages

Shares of Rush Street Interactive, Inc. (NYSE:RSI - Get Free Report) have been given an average recommendation of "Buy" by the nine brokerages that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $15.50.

RSI has been the subject of a number of research reports. Benchmark increased their price objective on Rush Street Interactive from $12.00 to $14.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Wells Fargo & Company upped their price target on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company an "overweight" rating in a research report on Thursday, February 27th. Needham & Company LLC reaffirmed a "buy" rating and issued a $17.00 target price on shares of Rush Street Interactive in a report on Thursday, February 27th. JMP Securities reiterated a "market perform" rating on shares of Rush Street Interactive in a research report on Monday, January 6th. Finally, Jefferies Financial Group boosted their price objective 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.

Rush Street Interactive Trading Down 0.2 %

Shares of NYSE RSI traded down $0.03 during midday trading on Friday, hitting $11.82. 40,095 shares of the company's stock were exchanged, compared to its average volume of 1,974,799. The business's fifty day moving average price is $12.05 and its two-hundred day moving average price is $12.57. The company has a market cap of $2.70 billion, a price-to-earnings ratio of -591.75 and a beta of 1.90. Rush Street Interactive has a 12-month low of $5.71 and a 12-month high of $16.78.

Insider Activity at Rush Street Interactive

In other Rush Street Interactive news, insider Einar Roosileht sold 70,000 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $14.41, for a total transaction of $1,008,700.00. Following the sale, the insider now directly owns 946,150 shares of the company's stock, valued at $13,634,021.50. This trade represents a 6.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Mattias Stetz sold 25,000 shares of the company's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $14.40, for a total value of $360,000.00. Following the completion of the transaction, the chief operating officer now owns 561,089 shares of the company's stock, valued at $8,079,681.60. The trade was a 4.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 746,281 shares of company stock worth $8,811,577 in the last three months. Insiders own 56.89% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Assenagon Asset Management S.A. grew its holdings in Rush Street Interactive by 72.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 542,376 shares of the company's stock valued at $5,814,000 after purchasing an additional 228,187 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Rush Street Interactive by 36.5% in the 1st quarter. SG Americas Securities LLC now owns 77,587 shares of the company's stock valued at $832,000 after acquiring an additional 20,745 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Rush Street Interactive by 4.6% in the 1st quarter. Rhumbline Advisers now owns 108,193 shares of the company's stock worth $1,160,000 after buying an additional 4,767 shares during the last quarter. GAMMA Investing LLC boosted its stake in Rush Street Interactive by 1,687.6% in the first quarter. GAMMA Investing LLC now owns 6,507 shares of the company's stock valued at $70,000 after acquiring an additional 6,143 shares during the period. Finally, California State Teachers Retirement System lifted its position in Rush Street Interactive by 8.1% in the 4th quarter. California State Teachers Retirement System now owns 73,625 shares of the company's stock valued at $1,010,000 after purchasing an additional 5,510 shares during the last quarter. Hedge funds and other institutional investors own 24.78% of the company's stock.

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.