Rush Street Interactive (NYSE:RSI) Rating Increased to Strong-Buy at Susquehanna

Susquehanna upgraded shares of Rush Street Interactive (NYSE:RSI - Free Report) from a hold rating to a strong-buy rating in a research report sent to investors on Friday,Zacks.com reports.

A number of other equities research analysts have also issued reports on the stock. Jefferies Financial Group increased their target price on shares of Rush Street Interactive from $16.00 to $17.00 and gave the stock a "buy" rating in a report on Wednesday, January 15th. Wells Fargo & Company increased their price objective on Rush Street Interactive from $14.00 to $15.00 and gave the company an "overweight" rating in a research note on Thursday, February 27th. Benchmark boosted their target price on Rush Street Interactive from $12.00 to $14.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. JMP Securities restated a "market perform" rating on shares of Rush Street Interactive in a report on Monday, January 6th. Finally, Needham & Company LLC reiterated 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 equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Rush Street Interactive has an average rating of "Buy" and a consensus target price of $15.50.

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Rush Street Interactive Stock Up 3.4 %

NYSE:RSI traded up $0.38 on Friday, reaching $11.67. 2,803,562 shares of the company's stock were exchanged, compared to its average volume of 2,208,593. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of -583.70 and a beta of 1.88. Rush Street Interactive has a 52-week low of $5.22 and a 52-week high of $16.78. The business has a fifty day moving average of $14.26 and a 200-day moving average of $12.34.

Insiders Place Their Bets

In other news, insider Einar Roosileht sold 48,968 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $14.04, for a total transaction of $687,510.72. Following the completion of the sale, the insider now owns 830,292 shares in the company, valued at $11,657,299.68. This represents a 5.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard Todd Schwartz sold 149,605 shares of Rush Street Interactive stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $14.61, for a total transaction of $2,185,729.05. Following the completion of the transaction, the chief executive officer now owns 2,151,648 shares in the company, valued at approximately $31,435,577.28. This trade represents a 6.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 800,853 shares of company stock valued at $11,292,836. 56.89% of the stock is owned by corporate insiders.

Institutional Trading of Rush Street Interactive

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Millrace Asset Group Inc. purchased a new position in Rush Street Interactive in the third quarter worth $2,135,000. Principal Financial Group Inc. grew its holdings in shares of Rush Street Interactive by 656.2% in the 3rd quarter. Principal Financial Group Inc. now owns 77,658 shares of the company's stock worth $843,000 after acquiring an additional 67,388 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Rush Street Interactive by 72.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 820,955 shares of the company's stock worth $8,907,000 after acquiring an additional 344,276 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Rush Street Interactive during the third quarter worth $656,000. Finally, Legato Capital Management LLC purchased a new stake in Rush Street Interactive during the fourth quarter worth $1,897,000. 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.