Rush Street Interactive, Inc. (NYSE:RSI) Short Interest Update

Rush Street Interactive, Inc. (NYSE:RSI) was the recipient of a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 9,090,000 shares, an increase of 18.7% from the February 13th total of 7,660,000 shares. Currently, 9.3% of the shares of the company are short sold. Based on an average trading volume of 2,010,000 shares, the days-to-cover ratio is currently 4.5 days.

Insider Buying and Selling at Rush Street Interactive

In other Rush Street Interactive news, insider Einar Roosileht sold 48,968 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.04, for a total value of $687,510.72. Following the transaction, the insider now directly owns 830,292 shares in the company, valued at $11,657,299.68. The trade was a 5.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Wierbicki sold 7,500 shares of the business’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $15.00, for a total transaction of $112,500.00. Following the completion of the transaction, the insider now owns 139,387 shares in the company, valued at approximately $2,090,805. The trade was a 5.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 988,545 shares of company stock worth $13,174,489 over the last three months. 56.89% of the stock is currently owned by insiders.

Institutional Trading of Rush Street Interactive

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Exchange Traded Concepts LLC increased its holdings in shares of Rush Street Interactive by 0.4% in the 4th quarter. Exchange Traded Concepts LLC now owns 260,380 shares of the company’s stock worth $3,572,000 after buying an additional 1,087 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Rush Street Interactive by 3.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,270 shares of the company’s stock worth $594,000 after buying an additional 1,632 shares during the last quarter. R Squared Ltd bought a new position in shares of Rush Street Interactive in the 4th quarter worth $28,000. Arizona State Retirement System increased its holdings in shares of Rush Street Interactive by 11.0% in the 4th quarter. Arizona State Retirement System now owns 22,913 shares of the company’s stock worth $314,000 after buying an additional 2,265 shares during the last quarter. Finally, Tidal Investments LLC increased its holdings in shares of Rush Street Interactive by 6.3% in the 4th quarter. Tidal Investments LLC now owns 38,360 shares of the company’s stock worth $526,000 after buying an additional 2,280 shares during the last quarter. Institutional investors own 24.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RSI. JMP Securities restated a “market perform” rating on shares of Rush Street Interactive in a research note on Monday, January 6th. Needham & Company LLC restated a “buy” rating and set a $17.00 price target on shares of Rush Street Interactive in a research note on Thursday, February 27th. Susquehanna upgraded shares of Rush Street Interactive from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 28th. Wells Fargo & Company upped their price target on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Finally, Benchmark upped their price target on shares of Rush Street Interactive from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Friday, February 28th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $15.50.

Rush Street Interactive Trading Down 1.8 %

Rush Street Interactive stock opened at $10.63 on Wednesday. The firm’s 50 day simple moving average is $13.58 and its 200 day simple moving average is $12.43. The firm has a market capitalization of $2.43 billion, a PE ratio of -531.70 and a beta of 1.92. Rush Street Interactive has a 1-year low of $5.71 and a 1-year high of $16.78.

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.