Rush Street Interactive, Inc. (NYSE:RSI) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Rush Street Interactive, Inc. (NYSE:RSI – Get Rating) has received an average rating of “Moderate Buy” from the eight ratings firms that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $9.00.

Several equities analysts have commented on RSI shares. Needham & Company LLC cut their price target on Rush Street Interactive from $10.00 to $6.00 and set a “buy” rating for the company in a report on Thursday, November 3rd. JMP Securities dropped their price target on Rush Street Interactive from $12.00 to $8.00 and set a “market outperform” rating for the company in a report on Friday, January 13th.

Rush Street Interactive Stock Up 2.9 %

Shares of NYSE:RSI opened at $4.19 on Wednesday. The business has a 50 day moving average price of $3.97 and a 200 day moving average price of $4.14. The company has a market cap of $923.90 million, a price-to-earnings ratio of -6.55 and a beta of 1.80. Rush Street Interactive has a twelve month low of $2.89 and a twelve month high of $10.40.

Insider Activity at Rush Street Interactive

In other Rush Street Interactive news, major shareholder Gregory A. Carlin sold 50,000 shares of the stock in a transaction on Friday, February 17th. The stock was sold at an average price of $4.31, for a total value of $215,500.00. Following the transaction, the insider now directly owns 1,354,402 shares in the company, valued at approximately $5,837,472.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder Gregory A. Carlin sold 100,000 shares of the firm’s stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $4.63, for a total value of $463,000.00. Following the transaction, the insider now directly owns 1,494,402 shares in the company, valued at approximately $6,919,081.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Gregory A. Carlin sold 50,000 shares of Rush Street Interactive stock in a transaction dated Friday, February 17th. The stock was sold at an average price of $4.31, for a total value of $215,500.00. Following the transaction, the insider now owns 1,354,402 shares in the company, valued at $5,837,472.62. The disclosure for this sale can be found here. Insiders own 58.02% of the company’s stock.

Institutional Trading of Rush Street Interactive

A number of hedge funds and other institutional investors have recently modified their holdings of RSI. Deutsche Bank AG raised its position in Rush Street Interactive by 319.7% during the second quarter. Deutsche Bank AG now owns 428,841 shares of the company’s stock valued at $2,003,000 after purchasing an additional 326,671 shares in the last quarter. Keybank National Association OH bought a new position in shares of Rush Street Interactive during the 2nd quarter worth about $55,000. HBK Sorce Advisory LLC bought a new position in Rush Street Interactive in the 3rd quarter valued at about $28,000. Jump Financial LLC purchased a new stake in Rush Street Interactive in the 3rd quarter valued at about $193,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Rush Street Interactive during the 2nd quarter worth approximately $70,000. Institutional investors and hedge funds own 35.79% of the company’s stock.

About Rush Street Interactive

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Rush Street Interactive, Inc operates as an online casino and sports betting company in the United States and 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.