Rush Street Interactive, Inc. (NYSE:RSI) Given Average Recommendation of "Moderate Buy" by Brokerages

Rush Street Interactive, Inc. (NYSE:RSI - Get Free Report) has been given a consensus rating of "Moderate Buy" by the seven ratings firms that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $12.43.

Several equities research analysts recently weighed in on the stock. 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 note on Thursday, October 31st. Craig Hallum boosted their price target on shares of Rush Street Interactive from $14.00 to $17.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Finally, Jefferies Financial Group increased their price objective on Rush Street Interactive from $15.00 to $16.00 and gave the company a "buy" rating in a research note on Thursday, October 31st.

Insider Transactions at Rush Street Interactive

In other Rush Street Interactive news, CFO Kyle Sauers sold 25,934 shares of the firm's stock in a transaction that occurred 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 of the company's stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Richard Todd Schwartz sold 103,905 shares of the business's stock in a transaction that occurred on 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 sale, the chief executive officer now owns 1,703,578 shares of the company's stock, valued at $18,773,429.56. This represents a 5.75 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 312,339 shares of company stock valued at $3,612,971. Insiders own 56.89% of the company's stock.

Institutional Investors Weigh In On Rush Street Interactive

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Rush Street Interactive by 1.6% during the first quarter. Vanguard Group Inc. now owns 5,481,219 shares of the company's stock worth $35,683,000 after buying an additional 85,736 shares during the period. Geode Capital Management LLC increased its holdings in shares of Rush Street Interactive by 5.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,736,259 shares of the company's stock valued at $18,843,000 after acquiring an additional 92,314 shares during the period. State Street Corp increased its holdings in shares of Rush Street Interactive by 3.6% in the 3rd quarter. State Street Corp now owns 1,612,892 shares of the company's stock valued at $17,500,000 after acquiring an additional 55,697 shares during the period. Renaissance Technologies LLC raised its position in Rush Street Interactive by 47.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,504,200 shares of the company's stock valued at $14,425,000 after purchasing an additional 482,872 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in Rush Street Interactive by 157.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,425,016 shares of the company's stock worth $13,666,000 after purchasing an additional 872,367 shares during the period. 24.78% of the stock is currently owned by institutional investors and hedge funds.

Rush Street Interactive Stock Down 3.2 %

NYSE RSI traded down $0.45 during trading on Friday, hitting $13.68. The stock had a trading volume of 1,512,937 shares, compared to its average volume of 2,201,006. The company has a market capitalization of $3.09 billion, a PE ratio of -684.00 and a beta of 1.88. The firm has a 50 day moving average price of $11.71 and a 200 day moving average price of $10.25. Rush Street Interactive has a twelve month low of $3.56 and a twelve month high of $14.92.

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.