Rush Street Interactive (NYSE:RSI) Shares Down 7.1% – Time to Sell?

Rush Street Interactive, Inc. (NYSE:RSI) fell 7.1% during trading on Thursday . The company traded as low as $9.89 and last traded at $9.83. 375,792 shares were traded during trading, a decline of 80% from the average session volume of 1,834,211 shares. The stock had previously closed at $10.58.

Wall Street Analyst Weigh In

A number of research firms have recently commented on RSI. Jefferies Financial Group raised their price target on Rush Street Interactive from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Susquehanna raised Rush Street Interactive from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 28th. JMP Securities reaffirmed a “market perform” rating on shares of Rush Street Interactive in a research report on Monday, January 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $17.00 price target on shares of Rush Street Interactive in a research report on Thursday, February 27th. Finally, Wells Fargo & Company raised their price target on Rush Street Interactive from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $15.50.

Rush Street Interactive Stock Performance

The stock has a 50-day moving average of $13.73 and a 200-day moving average of $12.36. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of -537.25 and a beta of 1.92.

Insider Buying and Selling at Rush Street Interactive

In other Rush Street Interactive news, insider Einar Roosileht sold 48,968 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $14.04, for a total value of $687,510.72. Following the completion of the transaction, the insider now directly owns 830,292 shares in the company, valued at $11,657,299.68. This trade represents a 5.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard Todd Schwartz sold 109,567 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $9.85, for a total value of $1,079,234.95. Following the completion of the transaction, the chief executive officer now owns 2,082,376 shares of the company’s stock, valued at approximately $20,511,403.60. This represents a 5.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 960,164 shares of company stock worth $12,870,812 over the last ninety days. 56.89% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in RSI. Price T Rowe Associates Inc. MD boosted its stake in shares of Rush Street Interactive by 7,958.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,029,239 shares of the company’s stock worth $27,843,000 after acquiring an additional 2,004,059 shares during the period. Topline Capital Management LLC bought a new position in shares of Rush Street Interactive during the 4th quarter worth approximately $24,851,000. William Blair Investment Management LLC bought a new position in shares of Rush Street Interactive during the 4th quarter worth approximately $21,635,000. Nicholas Investment Partners LP bought a new position in shares of Rush Street Interactive during the 4th quarter worth approximately $14,970,000. Finally, Vanguard Group Inc. boosted its stake in shares of Rush Street Interactive by 14.0% during the 4th quarter. Vanguard Group Inc. now owns 8,596,434 shares of the company’s stock worth $117,943,000 after acquiring an additional 1,056,583 shares during the period. 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.