Rush Street Interactive (NYSE:RSI) Shares Gap Down – What’s Next?

Rush Street Interactive, Inc. (NYSE:RSI)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $13.30, but opened at $12.50. Rush Street Interactive shares last traded at $11.69, with a volume of 1,047,941 shares traded.

Wall Street Analyst Weigh In

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

Rush Street Interactive Stock Up 3.5 %

The firm’s 50-day simple moving average is $14.35 and its 200-day simple moving average is $12.27. The firm has a market capitalization of $2.63 billion, a PE ratio of -583.00 and a beta of 1.88.

Insider Buying and Selling at Rush Street Interactive

In other Rush Street Interactive news, CEO Richard Todd Schwartz sold 45,256 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $13.51, for a total transaction of $611,408.56. Following the completion of the sale, the chief executive officer now directly owns 1,762,227 shares in the company, valued at $23,807,686.77. This represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Mattias Stetz sold 25,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $14.50, for a total transaction of $362,500.00. Following the sale, the chief operating officer now owns 550,484 shares of the company’s stock, valued at approximately $7,982,018. The trade was a 4.34 % decrease in their ownership of the stock. 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 three months. Company insiders own 56.89% of the company’s stock.

Institutional Trading of Rush Street Interactive

A number of institutional investors have recently modified their holdings of the company. Heck Capital Advisors LLC purchased a new stake in shares of Rush Street Interactive during the fourth quarter worth about $34,000. Mackenzie Financial Corp purchased a new stake in shares of Rush Street Interactive during the fourth quarter worth about $1,123,000. PharVision Advisers LLC purchased a new stake in shares of Rush Street Interactive during the fourth quarter worth about $400,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Rush Street Interactive by 171.4% during the fourth 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 during the period. Finally, Voloridge Investment Management LLC boosted its holdings in shares of Rush Street Interactive by 1,084.0% during the fourth 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 during the period. 24.78% of the stock is currently owned by hedge funds and other institutional investors.

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.