Rush Street Interactive (NYSE:RSI) Shares Gap Down – What’s Next?

Rush Street Interactive, Inc. (NYSE:RSI) shares gapped down before the market opened on Thursday . The stock had previously closed at $13.30, but opened at $12.50. Rush Street Interactive shares last traded at $11.69, with a volume of 1,047,941 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on RSI shares. JMP Securities reiterated a “market perform” rating on shares of Rush Street Interactive in a research report on Monday, January 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $17.00 price objective on shares of Rush Street Interactive in a report on Thursday. Craig Hallum upped their target price on Rush Street Interactive from $14.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Susquehanna lifted their price target on Rush Street Interactive from $12.00 to $14.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Jefferies Financial Group boosted their price objective 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. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $15.67.

Rush Street Interactive Trading Down 11.3 %

The stock has a market cap of $2.66 billion, a price-to-earnings ratio of -590.60 and a beta of 1.88. The firm’s 50 day moving average is $14.43 and its two-hundred day moving average is $12.26.

Insider Activity

In other news, CEO Richard Todd Schwartz sold 149,605 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 2,151,648 shares of the company’s stock, valued at $31,435,577.28. This represents a 6.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Einar Roosileht sold 48,968 shares of the firm’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 transaction of $687,510.72. Following the completion of the sale, the insider now directly owns 830,292 shares in the company, valued at $11,657,299.68. This represents a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 825,853 shares of company stock valued at $11,655,336 over the last 90 days. Insiders own 56.89% of the company’s stock.

Hedge Funds Weigh In On Rush Street Interactive

A number of large investors have recently bought and sold shares of the stock. R Squared Ltd purchased a new stake in Rush Street Interactive during the fourth quarter valued at about $28,000. Heck Capital Advisors LLC acquired a new position in shares of Rush Street Interactive in the 4th quarter valued at about $34,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Rush Street Interactive during the 3rd quarter worth about $44,000. WealthTrak Capital Management LLC acquired a new stake in Rush Street Interactive during the 4th quarter worth approximately $71,000. Finally, Point72 DIFC Ltd purchased a new position in Rush Street Interactive in the third quarter valued at approximately $70,000. Hedge funds and other institutional investors own 24.78% of the company’s stock.

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.