Rush Street Interactive, Inc. (NYSE:RSI) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Rush Street Interactive, Inc. (NYSE:RSI) have been given an average recommendation of “Moderate Buy” by the seven brokerages that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $12.43.

Several research firms have recently commented on RSI. Craig Hallum raised 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. Oppenheimer raised their price objective on shares of Rush Street Interactive from $10.00 to $14.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Needham & Company LLC raised their price objective on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Wells Fargo & Company lifted their price target on shares of Rush Street Interactive from $11.00 to $13.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Finally, Jefferies Financial Group lifted their price target 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.

Insiders Place Their Bets

In other Rush Street Interactive news, insider Einar Roosileht sold 150,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $9.09, for a total transaction of $1,363,500.00. Following the sale, the insider now directly owns 809,260 shares in the company, valued at approximately $7,356,173.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 56.89% of the company’s stock.

Institutional Investors Weigh In On Rush Street Interactive

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Rush Street Interactive by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 5,481,219 shares of the company’s stock worth $35,683,000 after buying an additional 85,736 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Rush Street Interactive in the 2nd quarter worth about $1,565,000. Acadian Asset Management LLC purchased a new stake in shares of Rush Street Interactive in the 2nd quarter worth about $587,000. Driehaus Capital Management LLC purchased a new stake in shares of Rush Street Interactive in the 2nd quarter worth about $10,605,000. Finally, Millennium Management LLC boosted its position in shares of Rush Street Interactive by 378.4% in the 2nd quarter. Millennium Management LLC now owns 620,552 shares of the company’s stock worth $5,951,000 after buying an additional 490,831 shares in the last quarter. 24.78% of the stock is currently owned by hedge funds and other institutional investors.

Rush Street Interactive Price Performance

Shares of RSI opened at $11.59 on Tuesday. Rush Street Interactive has a 1-year low of $3.56 and a 1-year high of $11.69. The stock has a market cap of $2.62 billion, a PE ratio of -579.50 and a beta of 1.78. The firm has a 50-day simple moving average of $10.49 and a two-hundred day simple moving average of $9.57.

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.