Rush Street Interactive (NYSE:RSI) Earns “Market Perform” Rating from JMP Securities

Rush Street Interactive (NYSE:RSI)‘s stock had its “market perform” rating reissued by stock analysts at JMP Securities in a note issued to investors on Monday,Benzinga reports.

RSI has been the subject of a number of other research reports. Needham & Company LLC lifted their price objective on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Jefferies Financial Group lifted their price target on Rush Street Interactive from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Craig Hallum raised their price objective on Rush Street Interactive from $14.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Rush Street Interactive has a consensus rating of “Moderate Buy” and an average price target of $12.43.

Rush Street Interactive Price Performance

Shares of NYSE RSI opened at $14.25 on Monday. The stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of -712.50 and a beta of 1.88. The firm’s 50 day simple moving average is $12.84 and its 200-day simple moving average is $10.91. Rush Street Interactive has a 12 month low of $3.56 and a 12 month high of $14.92.

Insider Transactions at Rush Street Interactive

In related 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 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. The trade was a 5.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Richard Todd Schwartz sold 103,905 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $11.02, for a total transaction of $1,145,033.10. Following the sale, the chief executive officer now directly owns 1,703,578 shares of the company’s stock, valued at approximately $18,773,429.56. This represents a 5.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 542,106 shares of company stock valued at $6,757,094 over the last ninety days. Insiders own 56.89% of the company’s stock.

Hedge Funds Weigh In On Rush Street Interactive

Institutional investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Rush Street Interactive in the 3rd quarter valued at $44,000. Point72 DIFC Ltd purchased a new stake in shares of Rush Street Interactive in the third quarter valued at about $70,000. New York State Teachers Retirement System increased its position in Rush Street Interactive by 17.2% during the third quarter. New York State Teachers Retirement System now owns 6,938 shares of the company’s stock worth $75,000 after purchasing an additional 1,020 shares during the last quarter. Quarry LP raised its stake in Rush Street Interactive by 15.9% during the second quarter. Quarry LP now owns 8,762 shares of the company’s stock worth $84,000 after purchasing an additional 1,200 shares during the period. Finally, CWM LLC boosted its holdings in Rush Street Interactive by 425.6% in the 3rd quarter. CWM LLC now owns 9,209 shares of the company’s stock valued at $100,000 after purchasing an additional 7,457 shares during the last quarter. Hedge funds and other institutional investors own 24.78% of the company’s stock.

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.