Rush Street Interactive (NYSE:RSI) Shares Down 4.9% – What’s Next?

Rush Street Interactive, Inc. (NYSE:RSI) fell 4.9% on Friday . The company traded as low as $13.72 and last traded at $13.68. 487,232 shares changed hands during mid-day 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

Several analysts have weighed in on RSI shares. JMP Securities reiterated a “market perform” rating on shares of Rush Street Interactive in a research report on Monday, January 6th. Needham & Company LLC raised 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. Craig Hallum boosted their target price 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, Jefferies Financial Group increased 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. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Rush Street Interactive currently has an average rating of “Moderate Buy” and a consensus target price of $14.00.

Rush Street Interactive Stock Down 5.6 %

The company has a market cap of $3.07 billion, a P/E ratio of -679.00 and a beta of 1.88. The business has a fifty day simple moving average of $13.87 and a two-hundred day simple moving average of $11.42.

Insider Buying and Selling

In other news, insider Paul Wierbicki sold 35,000 shares of Rush Street Interactive stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $11.23, for a total transaction of $393,050.00. Following the transaction, the insider now directly owns 139,982 shares of the company’s stock, valued at $1,571,997.86. The trade was a 20.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard Todd Schwartz sold 103,905 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $18,773,429.56. This represents a 5.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 884,287 shares of company stock valued at $11,632,978. 56.89% of the stock is owned by insiders.

Institutional Trading of Rush Street Interactive

Several institutional investors and hedge funds have recently modified their holdings of the company. American Century Companies Inc. purchased a new position in Rush Street Interactive in the 2nd quarter worth approximately $311,000. Hsbc Holdings PLC raised its position in shares of Rush Street Interactive by 43.4% during the second quarter. Hsbc Holdings PLC now owns 49,215 shares of the company’s stock valued at $463,000 after buying an additional 14,894 shares during the last quarter. XTX Topco Ltd lifted its holdings in shares of Rush Street Interactive by 94.9% in the second quarter. XTX Topco Ltd now owns 41,619 shares of the company’s stock worth $399,000 after buying an additional 20,270 shares in the last quarter. Sei Investments Co. bought a new position in shares of Rush Street Interactive during the second quarter worth $539,000. Finally, Magnetar Financial LLC purchased a new position in Rush Street Interactive during the second quarter valued at $235,000. 24.78% of the stock is currently owned by institutional investors.

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.