Rush Street Interactive’s (RSI) Outperform Rating Reiterated at Macquarie

Rush Street Interactive (NYSE:RSI)‘s stock had its “outperform” rating reaffirmed by investment analysts at Macquarie in a research report issued on Thursday,Benzinga reports. They presently have a $16.00 price target on the stock. Macquarie’s price target points to a potential upside of 41.92% from the stock’s current price.

A number of other equities analysts have also commented on the company. Susquehanna raised their price target on Rush Street Interactive from $12.00 to $14.00 and gave the stock a “neutral” rating in a report on Tuesday. Craig Hallum raised their target price on Rush Street Interactive from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. JMP Securities reiterated a “market perform” rating on shares of Rush Street Interactive in a research report on Monday, January 6th. Jefferies Financial Group raised their price objective on shares of Rush Street Interactive from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $17.00 target price on shares of Rush Street Interactive in a report on Thursday. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $15.71.

Rush Street Interactive Trading Down 15.2 %

Shares of RSI stock traded down $2.03 during trading on Thursday, reaching $11.27. 7,272,812 shares of the company’s stock traded hands, compared to its average volume of 2,130,006. Rush Street Interactive has a 1 year low of $5.22 and a 1 year high of $16.78. The company has a market capitalization of $2.54 billion, a P/E ratio of -563.70 and a beta of 1.88. The firm’s 50-day moving average is $14.43 and its 200 day moving average is $12.26.

Insider Activity at Rush Street Interactive

In other news, COO Mattias Stetz sold 25,000 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $14.50, for a total value of $362,500.00. Following the transaction, the chief operating officer now owns 550,484 shares of the company’s stock, valued at $7,982,018. This represents a 4.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Einar Roosileht sold 48,968 shares of Rush Street Interactive stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $14.04, for a total transaction of $687,510.72. Following the sale, the insider now directly owns 830,292 shares of the company’s stock, valued at $11,657,299.68. This represents a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 825,853 shares of company stock valued at $11,655,336 over the last three months. 56.89% of the stock is owned by corporate insiders.

Institutional Trading of Rush Street Interactive

A number of hedge funds have recently bought and sold shares of RSI. Price T Rowe Associates Inc. MD lifted its holdings in shares of Rush Street Interactive by 7,958.9% in 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 last quarter. Topline Capital Management LLC purchased a new stake in Rush Street Interactive during the fourth quarter valued at about $24,851,000. William Blair Investment Management LLC bought a new position in shares of Rush Street Interactive during the fourth quarter valued at about $21,635,000. Nicholas Investment Partners LP purchased a new position in shares of Rush Street Interactive in the fourth quarter worth about $14,970,000. Finally, Vanguard Group Inc. lifted its stake in shares of Rush Street Interactive by 14.0% in the 4th quarter. Vanguard Group Inc. now owns 8,596,434 shares of the company’s stock valued at $117,943,000 after acquiring an additional 1,056,583 shares during the last quarter. Institutional investors own 24.78% of the company’s stock.

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.