Rush Street Interactive’s (RSI) “Market Perform” Rating Reiterated at JMP Securities

JMP Securities reiterated their market perform rating on shares of Rush Street Interactive (NYSE:RSI) in a research report sent to investors on Monday,Benzinga reports.

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

Rush Street Interactive Trading Down 1.3 %

Shares of RSI stock opened at $14.55 on Monday. The company has a market cap of $3.28 billion, a PE ratio of -727.50 and a beta of 1.88. Rush Street Interactive has a 12-month low of $3.56 and a 12-month high of $14.96. The business’s fifty day simple moving average is $13.07 and its 200-day simple moving average is $11.01.

Insider Activity at Rush Street Interactive

In related news, CEO Richard Todd Schwartz sold 103,905 shares of Rush Street Interactive stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $11.02, for a total value of $1,145,033.10. Following the completion of the transaction, the chief executive officer now owns 1,703,578 shares in the company, valued at $18,773,429.56. The trade was a 5.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul Wierbicki sold 35,000 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $11.23, for a total value of $393,050.00. Following the completion of the transaction, the insider now directly owns 139,982 shares of the company’s stock, valued at $1,571,997.86. The trade was a 20.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 542,106 shares of company stock worth $6,757,094. 56.89% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Driehaus Capital Management LLC acquired a new stake in Rush Street Interactive in the 2nd quarter valued at $10,605,000. Marshall Wace LLP grew its position in shares of Rush Street Interactive by 185.5% in the second quarter. Marshall Wace LLP now owns 981,822 shares of the company’s stock valued at $9,416,000 after purchasing an additional 637,883 shares during the period. Millennium Management LLC increased its stake in shares of Rush Street Interactive by 378.4% during the second quarter. Millennium Management LLC now owns 620,552 shares of the company’s stock worth $5,951,000 after purchasing an additional 490,831 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Rush Street Interactive by 47.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,504,200 shares of the company’s stock worth $14,425,000 after purchasing an additional 482,872 shares during the last quarter. Finally, Caprock Group LLC purchased a new position in Rush Street Interactive in the 3rd quarter valued at about $4,178,000. 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.