Rush Street Interactive, Inc. (NYSE:RSI) Short Interest Down 18.6% in March

Rush Street Interactive, Inc. (NYSE:RSIGet Free Report) saw a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 2,190,000 shares, a decrease of 18.6% from the February 29th total of 2,690,000 shares. Based on an average trading volume of 1,210,000 shares, the days-to-cover ratio is currently 1.8 days.

Insider Buying and Selling at Rush Street Interactive

In other Rush Street Interactive news, CFO Kyle Sauers sold 21,362 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $5.83, for a total value of $124,540.46. Following the completion of the sale, the chief financial officer now directly owns 536,936 shares of the company’s stock, valued at approximately $3,130,336.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Rush Street Interactive news, CFO Kyle Sauers sold 21,362 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $5.83, for a total value of $124,540.46. Following the completion of the sale, the chief financial officer now directly owns 536,936 shares of the company’s stock, valued at approximately $3,130,336.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul Wierbicki sold 22,743 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $5.83, for a total transaction of $132,591.69. Following the completion of the sale, the insider now directly owns 174,982 shares of the company’s stock, valued at $1,020,145.06. The disclosure for this sale can be found here. In the last three months, insiders sold 184,880 shares of company stock valued at $1,130,025. 56.96% of the stock is owned by insiders.

Institutional Investors Weigh In On Rush Street Interactive

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vident Investment Advisory LLC acquired a new stake in Rush Street Interactive in the 4th quarter valued at approximately $39,000. Boothbay Fund Management LLC acquired a new position in shares of Rush Street Interactive during the 2nd quarter worth approximately $41,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of Rush Street Interactive during the 2nd quarter worth approximately $46,000. UBS Group AG increased its position in shares of Rush Street Interactive by 357.1% during the 4th quarter. UBS Group AG now owns 13,943 shares of the company’s stock worth $50,000 after purchasing an additional 10,893 shares during the last quarter. Finally, Verition Fund Management LLC acquired a new position in shares of Rush Street Interactive during the 2nd quarter worth approximately $51,000. Institutional investors and hedge funds own 24.78% of the company’s stock.

Analyst Upgrades and Downgrades

RSI has been the topic of several recent analyst reports. JMP Securities restated a “market perform” rating on shares of Rush Street Interactive in a report on Friday, March 8th. Oppenheimer boosted their price objective on Rush Street Interactive from $7.00 to $9.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. Susquehanna restated a “neutral” rating and set a $6.00 price objective (up previously from $5.00) on shares of Rush Street Interactive in a report on Monday, March 4th. Wells Fargo & Company upped their target price on Rush Street Interactive from $7.00 to $8.00 and gave the company an “overweight” rating in a report on Thursday, March 7th. Finally, Needham & Company LLC upped their target price on Rush Street Interactive from $6.00 to $8.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $7.40.

Get Our Latest Stock Analysis on Rush Street Interactive

Rush Street Interactive Price Performance

Rush Street Interactive stock opened at $6.51 on Monday. The stock has a fifty day moving average price of $5.75 and a two-hundred day moving average price of $4.77. Rush Street Interactive has a 52-week low of $2.77 and a 52-week high of $7.31. The firm has a market capitalization of $1.45 billion, a P/E ratio of -24.11 and a beta of 1.70.

Rush Street Interactive (NYSE:RSIGet Free Report) last posted its quarterly earnings results on Wednesday, March 6th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.01. Rush Street Interactive had a negative return on equity of 28.95% and a negative net margin of 2.65%. The business had revenue of $193.85 million for the quarter, compared to analysts’ expectations of $181.50 million. On average, equities research analysts predict that Rush Street Interactive will post -0.22 EPS for the current fiscal year.

Rush Street Interactive Company Profile

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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.

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