Rush Street Interactive, Inc. (NYSE:RSI) Given Consensus Rating of “Buy” by Brokerages

Rush Street Interactive, Inc. (NYSE:RSI) has earned a consensus rating of “Buy” from the nine ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $15.50.

A number of brokerages have issued reports on RSI. Jefferies Financial Group lifted their price target on shares of Rush Street Interactive from $16.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. Susquehanna upgraded Rush Street Interactive from a “hold” rating to a “strong-buy” rating in a report on Friday, February 28th. JMP Securities reissued a “market perform” rating on shares of Rush Street Interactive in a research report on Monday, January 6th. Macquarie reiterated an “outperform” rating and set a $16.00 price objective on shares of Rush Street Interactive in a research note on Thursday, February 27th. Finally, Wells Fargo & Company raised their target price on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th.

Rush Street Interactive Trading Down 0.2 %

RSI opened at $11.84 on Friday. The company’s 50 day moving average is $12.05 and its 200 day moving average is $12.57. Rush Street Interactive has a 12-month low of $5.71 and a 12-month high of $16.78. The company has a market cap of $2.70 billion, a price-to-earnings ratio of -591.90 and a beta of 1.90.

Insider Buying and Selling at Rush Street Interactive

In other Rush Street Interactive news, insider Einar Roosileht sold 70,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $14.41, for a total value of $1,008,700.00. Following the transaction, the insider now directly owns 946,150 shares in the company, valued at $13,634,021.50. This represents a 6.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Richard Todd Schwartz sold 193,905 shares of Rush Street Interactive stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $10.63, for a total value of $2,061,210.15. Following the sale, the chief executive officer now owns 1,599,186 shares in the company, valued at $16,999,347.18. This trade represents a 10.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 746,281 shares of company stock valued at $8,811,577 over the last quarter. 56.89% of the stock is owned by company insiders.

Institutional Trading of Rush Street Interactive

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Exchange Traded Concepts LLC boosted its holdings in Rush Street Interactive by 0.4% during the fourth quarter. Exchange Traded Concepts LLC now owns 260,380 shares of the company’s stock worth $3,572,000 after buying an additional 1,087 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Rush Street Interactive by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,270 shares of the company’s stock worth $594,000 after purchasing an additional 1,632 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Rush Street Interactive in the fourth quarter worth approximately $28,000. Arizona State Retirement System increased its holdings in shares of Rush Street Interactive by 11.0% during the 4th quarter. Arizona State Retirement System now owns 22,913 shares of the company’s stock worth $314,000 after buying an additional 2,265 shares during the last quarter. Finally, Tidal Investments LLC raised its holdings in shares of Rush Street Interactive by 6.3% in the 4th quarter. Tidal Investments LLC now owns 38,360 shares of the company’s stock worth $526,000 after purchasing an additional 2,280 shares during the period. 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.