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 business’s stock in a transaction dated 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 in the company, valued at approximately $6,396,933.68. The trade was a 3.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Rush Street Interactive Stock Up 5.2 %

RSI opened at $11.84 on Wednesday. Rush Street Interactive, Inc. has a 52 week low of $3.56 and a 52 week high of $12.46. The business has a fifty day simple moving average of $10.77 and a 200-day simple moving average of $9.77. The firm has a market cap of $2.67 billion, a P/E ratio of -592.00 and a beta of 1.78.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC raised its stake in Rush Street Interactive by 13,627.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 11,943 shares of the company’s stock valued at $78,000 after buying an additional 11,856 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Rush Street Interactive during the first quarter worth about $148,000. Vanguard Group Inc. increased its position in shares of Rush Street Interactive by 1.6% during the first quarter. Vanguard Group Inc. now owns 5,481,219 shares of the company’s stock worth $35,683,000 after purchasing an additional 85,736 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Rush Street Interactive during the first quarter worth about $1,673,000. Finally, Bayesian Capital Management LP acquired a new stake in shares of Rush Street Interactive during the first quarter worth about $403,000. 24.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on RSI shares. Wells Fargo & Company upped their target price on Rush Street Interactive from $11.00 to $13.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Oppenheimer upped their target price on Rush Street Interactive from $10.00 to $14.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Needham & Company LLC upped their target price on Rush Street Interactive from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Craig Hallum increased their price target on Rush Street Interactive from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Jefferies Financial Group increased their price target 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 research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.