Susquehanna Upgrades Rush Street Interactive (NYSE:RSI) to Strong-Buy

Rush Street Interactive (NYSE:RSI) was upgraded by Susquehanna from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Friday,Zacks.com reports.

Other research analysts have also recently issued research reports about the stock. Wells Fargo & Company upped their target price on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company an “overweight” rating in a research report on Thursday. Needham & Company LLC reaffirmed a “buy” rating and issued a $17.00 target price on shares of Rush Street Interactive in a research report on Thursday. Macquarie reissued an “outperform” rating and set a $16.00 price target on shares of Rush Street Interactive in a research report on Thursday. JMP Securities reissued a “market perform” rating on shares of Rush Street Interactive in a research report on Monday, January 6th. Finally, Benchmark increased their price target 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 research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $15.50.

Rush Street Interactive Trading Up 3.5 %

Shares of RSI stock opened at $11.66 on Friday. The company’s 50-day moving average price is $14.35 and its 200-day moving average price is $12.29. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of -583.00 and a beta of 1.88. Rush Street Interactive has a twelve month low of $5.22 and a twelve month high of $16.78.

Insider Activity at Rush Street Interactive

In other Rush Street Interactive news, COO Mattias Stetz sold 25,000 shares of the firm’s stock in a transaction that occurred on 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. This trade represents a 4.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Richard Todd Schwartz sold 45,256 shares of Rush Street Interactive stock in a transaction on 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 transaction, the chief executive officer now directly owns 1,762,227 shares in the company, valued at $23,807,686.77. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 825,853 shares of company stock valued at $11,655,336 over the last 90 days. 56.89% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rush Street Interactive

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in Rush Street Interactive by 14.0% in the 4th quarter. Vanguard Group Inc. now owns 8,596,434 shares of the company’s stock valued at $117,943,000 after buying an additional 1,056,583 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in Rush Street Interactive by 62.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,663,246 shares of the company’s stock valued at $36,540,000 after buying an additional 1,018,889 shares during the last quarter. Driehaus Capital Management LLC grew its position in Rush Street Interactive by 56.6% in the 4th quarter. Driehaus Capital Management LLC now owns 2,200,517 shares of the company’s stock valued at $30,191,000 after buying an additional 795,719 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Rush Street Interactive by 7,958.9% in the 4th 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 during the last quarter. Finally, Renaissance Technologies LLC grew its position in Rush Street Interactive by 43.9% in the 4th 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 during the last quarter. 24.78% of the stock is owned by institutional investors and hedge funds.

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.