Rush Street Interactive (NYSE:RSI) Shares Down 4.8% – Here’s Why

Rush Street Interactive, Inc. (NYSE:RSI) shares traded down 4.8% during mid-day trading on Tuesday . The company traded as low as $15.75 and last traded at $15.89. 692,860 shares changed hands during trading, a decline of 63% from the average session volume of 1,869,866 shares. The stock had previously closed at $16.70.

Analysts Set New Price Targets

Several research firms recently commented on RSI. Needham & Company LLC upped their price target on shares of 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 upped their target price on shares of Rush Street Interactive from $14.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, October 31st. JMP Securities reissued a “market perform” rating on shares of Rush Street Interactive in a report on Monday, January 6th. Finally, Jefferies Financial Group upped their price objective 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. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $14.00.

Rush Street Interactive Stock Performance

The company has a market cap of $3.47 billion, a price-to-earnings ratio of -768.80 and a beta of 1.88. The company has a 50-day simple moving average of $14.42 and a 200-day simple moving average of $12.11.

Insider Buying and Selling

In related news, insider Paul Wierbicki sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $14.00, for a total value of $105,000.00. Following the completion of the transaction, the insider now directly owns 139,482 shares of the company’s stock, valued at $1,952,748. This trade represents a 5.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Richard Todd Schwartz sold 45,256 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $13.51, for a total value of $611,408.56. Following the sale, the chief executive officer now owns 1,762,227 shares in the company, valued at approximately $23,807,686.77. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 833,353 shares of company stock valued at $11,760,336 over the last quarter. Company insiders own 56.89% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. R Squared Ltd acquired a new position in Rush Street Interactive during the fourth quarter worth about $28,000. Heck Capital Advisors LLC purchased a new position in shares of Rush Street Interactive during the 4th quarter worth approximately $34,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Rush Street Interactive during the 3rd quarter worth approximately $44,000. WealthTrak Capital Management LLC purchased a new stake in Rush Street Interactive in the 4th quarter valued at approximately $71,000. Finally, Point72 DIFC Ltd acquired a new stake in Rush Street Interactive during the 3rd quarter valued at $70,000. Institutional investors and hedge funds own 24.78% of the company’s stock.

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.