Rush Street Interactive (NYSE:RSI) Shares Down 4.8% – Should You Sell?

Shares of Rush Street Interactive, Inc. (NYSE:RSI) traded down 4.8% during mid-day trading on Tuesday . The stock traded as low as $15.75 and last traded at $15.89. 692,860 shares traded hands during trading, a decline of 63% from the average session volume of 1,869,866 shares. The stock had previously closed at $16.70.

Wall Street Analyst Weigh In

Several equities analysts recently commented on RSI shares. Needham & Company LLC upped their target price on Rush Street Interactive from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Jefferies Financial Group upped their price objective on shares of Rush Street Interactive from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. JMP Securities restated a “market perform” rating on shares of Rush Street Interactive in a report on Monday, January 6th. Finally, Craig Hallum upped their price target on shares of Rush Street Interactive from $14.00 to $17.00 and gave the stock a “buy” rating in a research 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’s stock. Based on data from MarketBeat.com, Rush Street Interactive presently has a consensus rating of “Moderate Buy” and an average target price of $14.00.

Rush Street Interactive Trading Down 0.8 %

The stock’s 50-day moving average is $14.42 and its 200-day moving average is $12.11. The stock has a market cap of $3.47 billion, a price-to-earnings ratio of -768.80 and a beta of 1.88.

Insider Transactions at Rush Street Interactive

In other Rush Street Interactive news, insider Einar Roosileht sold 48,968 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $14.04, for a total value of $687,510.72. Following the completion of the transaction, the insider now owns 830,292 shares in the company, valued at $11,657,299.68. This represents a 5.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard Todd Schwartz sold 149,605 shares of Rush Street Interactive stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $14.61, for a total transaction of $2,185,729.05. Following the sale, the chief executive officer now owns 2,151,648 shares in the company, valued at $31,435,577.28. This represents a 6.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 833,353 shares of company stock valued at $11,760,336 over the last 90 days. Corporate insiders own 56.89% of the company’s stock.

Institutional Investors Weigh In On Rush Street Interactive

A number of large investors have recently added to or reduced their stakes in RSI. R Squared Ltd purchased a new position in Rush Street Interactive in the 4th quarter valued at about $28,000. Heck Capital Advisors LLC acquired a new position in shares of Rush Street Interactive in the fourth quarter worth about $34,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Rush Street Interactive in the third quarter worth about $44,000. WealthTrak Capital Management LLC purchased a new position in Rush Street Interactive in the fourth quarter valued at about $71,000. Finally, Point72 DIFC Ltd acquired a new stake in Rush Street Interactive during the 3rd quarter valued at approximately $70,000. 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.