Rush Street Interactive (NYSE:RSI) Trading Down 9.4%

Rush Street Interactive, Inc. (NYSE:RSI) shares dropped 9.4% on Tuesday . The company traded as low as $18.60 and last traded at $18.67. Approximately 24,522 shares traded hands during mid-day trading, a decline of 98% from the average daily volume of 1,555,117 shares. The stock had previously closed at $20.61.

RSI has been the topic of a number of research analyst reports. Roth Capital initiated coverage on shares of Rush Street Interactive in a report on Tuesday, October 12th. They issued a “buy” rating and a $24.00 price target on the stock. Zacks Investment Research upgraded shares of Rush Street Interactive from a “sell” rating to a “hold” rating in a report on Tuesday, November 16th. Wells Fargo & Company initiated coverage on shares of Rush Street Interactive in a report on Tuesday, September 14th. They issued an “equal weight” rating and a $15.00 price target on the stock. Macquarie initiated coverage on shares of Rush Street Interactive in a report on Monday, August 2nd. They issued an “outperform” rating and a $21.00 price target on the stock. Finally, Oppenheimer lifted their price target on shares of Rush Street Interactive from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Friday, August 13th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $22.22.

The firm has a market cap of $4.15 billion and a price-to-earnings ratio of -55.67. The company’s fifty day simple moving average is $19.24.

In related news, CFO Kyle Sauers sold 16,152 shares of Rush Street Interactive stock in a transaction on Wednesday, October 27th. The shares were sold at an average price of $20.72, for a total transaction of $334,669.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 76.06% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in RSI. Northern Trust Corp purchased a new stake in Rush Street Interactive during the 1st quarter worth $1,411,000. Bank of New York Mellon Corp purchased a new stake in Rush Street Interactive during the 1st quarter worth $281,000. Goldman Sachs Group Inc. increased its stake in Rush Street Interactive by 1,060.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 138,922 shares of the company’s stock worth $2,270,000 after buying an additional 126,948 shares during the period. Royal Bank of Canada increased its stake in Rush Street Interactive by 2,685.0% during the 1st quarter. Royal Bank of Canada now owns 11,140 shares of the company’s stock worth $182,000 after buying an additional 10,740 shares during the period. Finally, Morgan Stanley increased its stake in Rush Street Interactive by 481.2% during the 1st quarter. Morgan Stanley now owns 136,548 shares of the company’s stock worth $2,231,000 after buying an additional 113,053 shares during the period. 18.97% of the stock is currently owned by hedge funds and other institutional investors.

Rush Street Interactive Company Profile (NYSE:RSI)

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