Rush Street Interactive (NYSE:RSI) Stock Price Up 3.9% – What’s Next?

Rush Street Interactive, Inc. (NYSE:RSI)’s share price was up 3.9% during trading on Tuesday . The stock traded as high as $13.76 and last traded at $13.75. Approximately 183,569 shares changed hands during trading, a decline of 89% from the average daily volume of 1,683,067 shares. The stock had previously closed at $13.24.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Jefferies Financial Group upped their price objective on shares of Rush Street Interactive from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Needham & Company LLC upped their price target on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Craig Hallum increased their price objective on shares of Rush Street Interactive from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Rush Street Interactive has an average rating of “Moderate Buy” and a consensus price target of $12.43.

Rush Street Interactive Trading Up 2.7 %

The stock has a market cap of $3.13 billion, a PE ratio of -693.00 and a beta of 1.88. The business’s 50-day moving average price is $11.89 and its 200-day moving average price is $10.36.

Insider Transactions at Rush Street Interactive

In other Rush Street Interactive 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 completion of the sale, the insider now owns 139,982 shares of the company’s stock, valued at approximately $1,571,997.86. The trade was a 20.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Richard Todd Schwartz sold 103,905 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $11.02, for a total value of $1,145,033.10. Following the completion of the sale, the chief executive officer now owns 1,703,578 shares in the company, valued at approximately $18,773,429.56. This represents a 5.75 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 357,595 shares of company stock valued at $4,224,380. Corporate insiders own 56.89% of the company’s stock.

Institutional Trading of Rush Street Interactive

Hedge funds have recently added to or reduced their stakes in the company. Millrace Asset Group Inc. acquired a new stake in Rush Street Interactive in the 3rd quarter worth about $2,135,000. Principal Financial Group Inc. boosted its stake in Rush Street Interactive by 656.2% during the 3rd quarter. Principal Financial Group Inc. now owns 77,658 shares of the company’s stock worth $843,000 after purchasing an additional 67,388 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Rush Street Interactive during the 2nd quarter valued at about $1,565,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in Rush Street Interactive by 72.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 820,955 shares of the company’s stock valued at $8,907,000 after acquiring an additional 344,276 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in Rush Street Interactive in the 2nd quarter valued at about $587,000. 24.78% of the stock is owned by hedge funds and other institutional investors.

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.