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

Macquarie restated their outperform rating on shares of Rush Street Interactive (NYSE:RSI) in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a $16.00 price objective on the stock.

RSI has been the topic of a number of other reports. Jefferies Financial Group raised their target price on shares of Rush Street Interactive from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Wells Fargo & Company lifted their price objective 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $17.00 target price on shares of Rush Street Interactive in a report on Thursday. Craig Hallum raised their price target on Rush Street Interactive from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Rush Street Interactive in a research note on Monday, January 6th. One 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 company’s stock. According to data from MarketBeat.com, Rush Street Interactive has a consensus rating of “Buy” and an average price target of $15.50.

Rush Street Interactive Stock Up 3.5 %

NYSE:RSI opened at $11.66 on Thursday. The company has a market capitalization of $2.63 billion, a PE ratio of -583.00 and a beta of 1.88. Rush Street Interactive has a 52-week low of $5.22 and a 52-week high of $16.78. The stock’s 50 day moving average price is $14.35 and its 200 day moving average price is $12.29.

Insider Buying and Selling at Rush Street Interactive

In other Rush Street Interactive news, CEO Richard Todd Schwartz sold 4,419 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $13.75, for a total value of $60,761.25. Following the completion of the sale, the chief executive officer now owns 2,392,587 shares of the company’s stock, valued at approximately $32,898,071.25. This trade represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Einar Roosileht sold 48,968 shares of the company’s 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 transaction, the insider now directly owns 830,292 shares in the company, valued at approximately $11,657,299.68. This trade represents a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 825,853 shares of company stock valued at $11,655,336. 56.89% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rush Street Interactive

A number of hedge funds and other institutional investors have recently modified their holdings of RSI. Vanguard Group Inc. grew its holdings 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 worth $117,943,000 after acquiring an additional 1,056,583 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in Rush Street Interactive by 62.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,663,246 shares of the company’s stock worth $36,540,000 after purchasing an additional 1,018,889 shares in the last quarter. Driehaus Capital Management LLC grew its holdings in Rush Street Interactive by 56.6% in the fourth quarter. Driehaus Capital Management LLC now owns 2,200,517 shares of the company’s stock valued at $30,191,000 after purchasing an additional 795,719 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Rush Street Interactive by 7,958.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,029,239 shares of the company’s stock valued at $27,843,000 after buying an additional 2,004,059 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Rush Street Interactive by 43.9% in the fourth quarter. Renaissance Technologies LLC now owns 1,962,400 shares of the company’s stock valued at $26,924,000 after buying an additional 598,300 shares in the last quarter. 24.78% of the stock is currently owned by institutional investors and hedge funds.

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.