Rush Street Interactive, Inc. (NYSE:RSI - Get Free Report) fell 6.3% on Thursday after an insider sold shares in the company. The company traded as low as $10.91 and last traded at $10.93. 356,313 shares were traded during mid-day trading, a decline of 84% from the average session volume of 2,162,441 shares. The stock had previously closed at $11.67.
Specifically, insider Einar Roosileht sold 70,000 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $11.67, for a total transaction of $816,900.00. Following the completion of the sale, the insider now owns 946,150 shares of the company's stock, valued at $11,041,570.50. This trade represents a 6.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Mattias Stetz sold 25,000 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $11.73, for a total value of $293,250.00. Following the sale, the chief operating officer now directly owns 531,089 shares of the company's stock, valued at approximately $6,229,673.97. This trade represents a 4.50 % decrease in their position. The disclosure for this sale can be found here.
Wall Street Analyst Weigh In
Several research firms have issued reports on RSI. Wells Fargo & Company raised their target price on Rush Street Interactive from $14.00 to $15.00 and gave the stock an "overweight" rating in a research note on Thursday, February 27th. Macquarie reissued an "outperform" rating and set a $16.00 target price on shares of Rush Street Interactive in a research note on Thursday, February 27th. Susquehanna raised Rush Street Interactive from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 28th. JMP Securities reaffirmed a "market perform" rating on shares of Rush Street Interactive in a research note on Monday, January 6th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $17.00 price objective on shares of Rush Street Interactive in a research note on Thursday, February 27th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $15.50.
View Our Latest Stock Report on RSI
Rush Street Interactive Price Performance
The stock has a 50 day moving average price of $14.10 and a two-hundred day moving average price of $12.37. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of -527.75 and a beta of 1.92.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. New York State Teachers Retirement System boosted its holdings in Rush Street Interactive by 17.2% in the third quarter. New York State Teachers Retirement System now owns 6,938 shares of the company's stock valued at $75,000 after purchasing an additional 1,020 shares during the period. Exchange Traded Concepts LLC boosted its holdings in Rush Street Interactive by 0.4% in the fourth quarter. Exchange Traded Concepts LLC now owns 260,380 shares of the company's stock valued at $3,572,000 after purchasing an additional 1,087 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Rush Street Interactive by 3.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,270 shares of the company's stock valued at $594,000 after purchasing an additional 1,632 shares during the period. Mesirow Financial Investment Management Inc. boosted its holdings in Rush Street Interactive by 7.3% in the third quarter. Mesirow Financial Investment Management Inc. now owns 25,727 shares of the company's stock valued at $279,000 after purchasing an additional 1,745 shares during the period. Finally, R Squared Ltd purchased a new position in Rush Street Interactive in the fourth quarter valued at $28,000. 24.78% of the stock is currently owned by hedge funds and other institutional investors.
About Rush Street Interactive
(
Get Free Report)
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.
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