Rush Street Interactive (NYSE:RSI) Stock Price Down 4.9% – Here’s Why

Rush Street Interactive, Inc. (NYSE:RSIGet Free Report)’s stock price fell 4.9% on Friday . The stock traded as low as $13.72 and last traded at $13.68. 487,232 shares changed hands during trading, a decline of 69% from the average session volume of 1,589,902 shares. The stock had previously closed at $14.39.

Analyst Ratings Changes

RSI has been the topic of several recent research reports. JMP Securities reaffirmed a “market perform” rating on shares of Rush Street Interactive in a report on Monday, January 6th. 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. Craig Hallum boosted their price target on Rush Street Interactive from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Needham & Company LLC upped their price objective on Rush Street Interactive from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $14.00.

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Rush Street Interactive Stock Performance

The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of -696.15 and a beta of 1.88. The company has a fifty day simple moving average of $13.93 and a two-hundred day simple moving average of $11.47.

Insider Activity at Rush Street Interactive

In other news, CEO Richard Todd Schwartz sold 103,905 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $11.02, for a total transaction of $1,145,033.10. Following the completion of the sale, the chief executive officer now directly owns 1,703,578 shares in the company, valued at $18,773,429.56. This represents a 5.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Paul Wierbicki sold 7,500 shares of Rush Street Interactive stock in a transaction on 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 transaction, the insider now owns 139,387 shares in the company, valued at $2,090,805. The trade was a 5.11 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 884,287 shares of company stock worth $11,632,978. 56.89% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Rush Street Interactive

Large investors have recently modified their holdings of the company. Millrace Asset Group Inc. purchased a new position in Rush Street Interactive in the third quarter valued at approximately $2,135,000. Principal Financial Group Inc. raised its stake 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 valued at $843,000 after acquiring an additional 67,388 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Rush Street Interactive by 72.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 820,955 shares of the company’s stock valued at $8,907,000 after acquiring an additional 344,276 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Rush Street Interactive during the 3rd quarter worth $656,000. Finally, GSA Capital Partners LLP increased its holdings in Rush Street Interactive by 42.6% in the 3rd quarter. GSA Capital Partners LLP now owns 279,367 shares of the company’s stock valued at $3,031,000 after purchasing an additional 83,436 shares in the last quarter. 24.78% of the stock is currently owned by hedge funds and other institutional investors.

Rush Street Interactive Company Profile

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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.

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