Rush Street Interactive (NYSE:RSI) Trading Down 4.8% - Here's Why

Rush Street Interactive, Inc. (NYSE:RSI - Get Free Report) fell 4.8% during trading on Tuesday . The company traded as low as $15.75 and last traded at $15.89. 692,860 shares were traded during mid-day trading, a decline of 63% from the average session volume of 1,869,866 shares. The stock had previously closed at $16.70.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on RSI. Jefferies Financial Group upped their target price on Rush Street Interactive from $16.00 to $17.00 and gave the company a "buy" rating in a research note on Wednesday, January 15th. JMP Securities reaffirmed a "market perform" rating on shares of Rush Street Interactive in a report on Monday, January 6th. Needham & Company LLC lifted their price objective on Rush Street Interactive from $15.00 to $17.00 and gave the company a "buy" rating in a report on Friday, January 17th. Finally, Craig Hallum lifted their price objective on Rush Street Interactive from $14.00 to $17.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $14.00.

Rush Street Interactive Stock Performance

The firm has a market cap of $3.09 billion, a price-to-earnings ratio of -684.35 and a beta of 1.88. The business's 50-day moving average is $14.45 and its 200-day moving average is $12.16.

Insider Buying and Selling

In other Rush Street Interactive news, insider Paul Wierbicki sold 7,500 shares of the business's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $14.00, for a total value of $105,000.00. Following the transaction, the insider now owns 139,482 shares of the company's stock, valued at approximately $1,952,748. The trade was a 5.10 % 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 hyperlink. Also, CEO Richard Todd Schwartz sold 45,256 shares of the business's stock in a transaction on Monday, December 9th. The stock was sold at an average price of $13.51, for a total value of $611,408.56. Following the completion of the transaction, the chief executive officer now directly owns 1,762,227 shares in the company, valued at approximately $23,807,686.77. This represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 833,353 shares of company stock worth $11,760,336 in the last quarter. 56.89% of the stock is owned by corporate insiders.

Institutional Trading of Rush Street Interactive

A number of hedge funds and other institutional investors have recently modified their holdings of RSI. R Squared Ltd acquired a new stake in shares of Rush Street Interactive in the fourth quarter valued at approximately $28,000. Heck Capital Advisors LLC acquired a new stake in shares of Rush Street Interactive in the fourth quarter valued at approximately $34,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Rush Street Interactive in the third quarter valued at approximately $44,000. Point72 DIFC Ltd acquired a new position in Rush Street Interactive during the 3rd quarter valued at about $70,000. Finally, WealthTrak Capital Management LLC acquired a new position in Rush Street Interactive during the 4th quarter valued at about $71,000. 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.