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

Shares of Rush Street Interactive, Inc. (NYSE:RSI) have received a consensus recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $14.00.

A number of research firms have commented on RSI. Jefferies Financial Group boosted their price objective on Rush Street Interactive from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Craig Hallum boosted their price objective on Rush Street Interactive from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Needham & Company LLC boosted their price objective on Rush Street Interactive from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Rush Street Interactive in a research note on Monday, January 6th.

Insider Activity at Rush Street Interactive

In related news, CEO Richard Todd Schwartz sold 149,605 shares of the company’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $14.61, for a total value of $2,185,729.05. Following the completion of the sale, the chief executive officer now owns 2,151,648 shares in the company, valued at approximately $31,435,577.28. This represents a 6.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Paul Wierbicki sold 7,500 shares of the company’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $15.00, for a total value of $112,500.00. Following the completion of the sale, the insider now owns 139,387 shares of the company’s stock, valued at $2,090,805. This represents a 5.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 833,353 shares of company stock worth $11,760,336. 56.89% of the stock is owned by insiders.

Institutional Investors Weigh In On Rush Street Interactive

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its holdings in shares of Rush Street Interactive by 7,958.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,029,239 shares of the company’s stock worth $27,843,000 after acquiring an additional 2,004,059 shares in the last quarter. Topline Capital Management LLC bought a new stake in shares of Rush Street Interactive in the fourth quarter worth about $24,851,000. William Blair Investment Management LLC bought a new stake in shares of Rush Street Interactive in the fourth quarter worth about $21,635,000. Nicholas Investment Partners LP bought a new stake in shares of Rush Street Interactive in the fourth quarter worth about $14,970,000. Finally, Vanguard Group Inc. increased its holdings in shares of Rush Street Interactive by 14.0% in the fourth quarter. Vanguard Group Inc. now owns 8,596,434 shares of the company’s stock worth $117,943,000 after acquiring an additional 1,056,583 shares in the last quarter. Institutional investors own 24.78% of the company’s stock.

Rush Street Interactive Stock Performance

Rush Street Interactive stock opened at $15.51 on Thursday. The firm has a market cap of $3.50 billion, a P/E ratio of -775.25 and a beta of 1.88. The business’s fifty day moving average is $14.42 and its two-hundred day moving average is $12.11. Rush Street Interactive has a 52 week low of $5.22 and a 52 week high of $16.78.

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.