Rush Street Interactive (NYSE:RSI) Upgraded by Susquehanna to “Strong-Buy” Rating

Susquehanna upgraded shares of Rush Street Interactive (NYSE:RSI) from a hold rating to a strong-buy rating in a report published on Friday morning,Zacks.com reports.

Several other equities research analysts also recently weighed in on RSI. Needham & Company LLC reaffirmed a “buy” rating and set a $17.00 price target on shares of Rush Street Interactive in a report on Thursday. JMP Securities reaffirmed a “market perform” rating on shares of Rush Street Interactive in a report on Monday, January 6th. Wells Fargo & Company raised their target price on Rush Street Interactive from $14.00 to $15.00 and gave the company an “overweight” rating in a report on Thursday. Benchmark raised their target price on Rush Street Interactive from $12.00 to $14.00 and gave the company a “buy” rating in a report on Friday. Finally, Macquarie reissued an “outperform” rating and issued a $16.00 target price on shares of Rush Street Interactive in a report on Thursday. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $15.50.

Rush Street Interactive Price Performance

Shares of NYSE RSI opened at $11.66 on Friday. The stock has a fifty day moving average price of $14.35 and a 200 day moving average price of $12.27. Rush Street Interactive has a 1-year low of $5.22 and a 1-year high of $16.78. The company has a market cap of $2.63 billion, a PE ratio of -583.00 and a beta of 1.88.

Insider Activity

In other news, CEO Richard Todd Schwartz sold 149,605 shares of the firm’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $14.61, for a total value of $2,185,729.05. Following the completion of the transaction, the chief executive officer now owns 2,151,648 shares in the company, valued at $31,435,577.28. This trade represents a 6.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Mattias Stetz sold 25,000 shares of the firm’s 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 completion of the transaction, the chief operating officer now owns 550,484 shares of the company’s stock, valued at approximately $7,982,018. This represents a 4.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 825,853 shares of company stock worth $11,655,336 over the last 90 days. 56.89% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RSI. Heck Capital Advisors LLC purchased a new stake in Rush Street Interactive during the 4th quarter worth about $34,000. Mackenzie Financial Corp purchased a new stake in Rush Street Interactive during the 4th quarter worth about $1,123,000. PharVision Advisers LLC purchased a new stake in Rush Street Interactive during the 4th quarter worth about $400,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Rush Street Interactive by 171.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 163,966 shares of the company’s stock worth $2,250,000 after purchasing an additional 103,546 shares in the last quarter. Finally, Voloridge Investment Management LLC increased its position in Rush Street Interactive by 1,084.0% during the 4th quarter. Voloridge Investment Management LLC now owns 194,033 shares of the company’s stock worth $2,662,000 after purchasing an additional 177,645 shares in the last quarter. Hedge funds and other 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.