Rush Street Interactive, Inc. (NYSE:RSI) Insider Sells $687,510.72 in Stock

Rush Street Interactive, Inc. (NYSE:RSI) insider Einar Roosileht sold 48,968 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $14.04, for a total value of $687,510.72. Following the completion of the sale, 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 sale was disclosed in a document filed with the SEC, which is available through this link.

Rush Street Interactive Trading Up 3.7 %

NYSE:RSI opened at $14.25 on Monday. The company has a market cap of $3.22 billion, a P/E ratio of -712.50 and a beta of 1.88. Rush Street Interactive, Inc. has a twelve month low of $3.56 and a twelve month high of $14.92. The company’s 50-day moving average price is $12.84 and its 200-day moving average price is $10.91.

Institutional Investors Weigh In On Rush Street Interactive

A number of large investors have recently made changes to their positions in RSI. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Rush Street Interactive during the third quarter worth $44,000. Point72 DIFC Ltd purchased a new position in shares of Rush Street Interactive during the 3rd quarter worth $70,000. New York State Teachers Retirement System boosted its position in shares of Rush Street Interactive by 17.2% during the 3rd quarter. New York State Teachers Retirement System now owns 6,938 shares of the company’s stock valued at $75,000 after acquiring an additional 1,020 shares during the last quarter. Quarry LP grew its holdings in shares of Rush Street Interactive by 15.9% in the second quarter. Quarry LP now owns 8,762 shares of the company’s stock valued at $84,000 after purchasing an additional 1,200 shares during the period. Finally, Principal Financial Group Inc. acquired a new stake in Rush Street Interactive during the second quarter worth about $98,000. 24.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RSI. Needham & Company LLC increased their target price on Rush Street Interactive from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Craig Hallum increased their price objective on shares of Rush Street Interactive from $14.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Jefferies Financial Group upped their price target on shares of Rush Street Interactive from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $12.43.

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.