Insider Selling: Rush Street Interactive, Inc. (NYSE:RSI) COO Sells 20,000 Shares of Stock

Rush Street Interactive, Inc. (NYSE:RSI) COO Mattias Stetz sold 20,000 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $11.02, for a total value of $220,400.00. Following the sale, the chief operating officer now owns 580,484 shares of the company’s stock, valued at $6,396,933.68. This trade represents a 3.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Rush Street Interactive Price Performance

Shares of NYSE RSI traded up $0.58 during trading hours on Tuesday, reaching $11.84. The stock had a trading volume of 1,971,119 shares, compared to its average volume of 1,675,732. Rush Street Interactive, Inc. has a twelve month low of $3.56 and a twelve month high of $12.46. The business’s fifty day moving average is $10.72 and its two-hundred day moving average is $9.74. The company has a market cap of $2.67 billion, a price-to-earnings ratio of -592.00 and a beta of 1.78.

Institutional Trading of Rush Street Interactive

Several institutional investors have recently made changes to their positions in RSI. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Rush Street Interactive during the 3rd quarter worth approximately $44,000. Point72 DIFC Ltd bought a new position in shares of Rush Street Interactive during the third quarter valued at $70,000. New York State Teachers Retirement System boosted its stake in shares of Rush Street Interactive by 17.2% in the 3rd quarter. New York State Teachers Retirement System now owns 6,938 shares of the company’s stock valued at $75,000 after purchasing an additional 1,020 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Rush Street Interactive by 13,627.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,943 shares of the company’s stock worth $78,000 after purchasing an additional 11,856 shares in the last quarter. Finally, Quarry LP lifted its holdings in Rush Street Interactive by 15.9% during the 2nd quarter. Quarry LP now owns 8,762 shares of the company’s stock valued at $84,000 after purchasing an additional 1,200 shares during the last quarter. 24.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Craig Hallum raised their target price on shares of Rush Street Interactive from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Wells Fargo & Company increased their target price on shares of Rush Street Interactive from $11.00 to $13.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Needham & Company LLC boosted their price target on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Oppenheimer increased their price objective on Rush Street Interactive from $10.00 to $14.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Finally, Jefferies Financial Group upped their target price on Rush Street Interactive from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Rush Street Interactive currently has an average rating of “Moderate Buy” and an average target price of $12.43.

About Rush Street Interactive

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.