Rush Street Interactive (NYSE:RSI) Upgraded to “Strong-Buy” at Susquehanna

Susquehanna upgraded shares of Rush Street Interactive (NYSE:RSI) from a hold rating to a strong-buy rating in a report published on Friday morning,Zacks.com reports.

Other analysts have also recently issued research reports about the stock. Macquarie reissued an “outperform” rating and set a $16.00 price target on shares of Rush Street Interactive in a research report on Thursday. Benchmark upped their target price on shares of Rush Street Interactive from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday. Wells Fargo & Company upped their target price on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock an “overweight” rating in a research note on Thursday. JMP Securities restated a “market perform” rating on shares of Rush Street Interactive in a research note on Monday, January 6th. Finally, Craig Hallum upped 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. One investment 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’s stock. According to data from MarketBeat.com, Rush Street Interactive currently has a consensus rating of “Buy” and a consensus target price of $15.50.

Rush Street Interactive Stock Performance

Shares of RSI opened at $11.66 on Friday. The stock has a market capitalization of $2.63 billion, a PE ratio of -583.00 and a beta of 1.88. Rush Street Interactive has a 1 year low of $5.22 and a 1 year high of $16.78. The company’s 50-day simple moving average is $14.35 and its 200-day simple moving average is $12.27.

Insider Buying and Selling at Rush Street Interactive

In other Rush Street Interactive news, COO Mattias Stetz sold 25,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $14.50, for a total value of $362,500.00. Following the transaction, the chief operating officer now directly owns 550,484 shares in the company, valued at $7,982,018. This represents a 4.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Richard Todd Schwartz sold 45,256 shares of the stock in a transaction that occurred 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 owns 1,762,227 shares in the company, valued at $23,807,686.77. This represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 825,853 shares of company stock worth $11,655,336 over the last three months. Insiders own 56.89% of the company’s stock.

Hedge Funds Weigh In On Rush Street Interactive

Hedge funds have recently modified their holdings of the business. Millrace Asset Group Inc. purchased a new position in shares of Rush Street Interactive during the third quarter worth approximately $2,135,000. Principal Financial Group Inc. grew its position in shares of Rush Street Interactive by 656.2% during the third quarter. Principal Financial Group Inc. now owns 77,658 shares of the company’s stock worth $843,000 after acquiring an additional 67,388 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Rush Street Interactive by 72.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 820,955 shares of the company’s stock worth $8,907,000 after acquiring an additional 344,276 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Rush Street Interactive during the third quarter worth approximately $656,000. Finally, Legato Capital Management LLC purchased a new position in shares of Rush Street Interactive during the fourth quarter worth approximately $1,897,000. 24.78% of the stock is currently owned by hedge funds and other institutional investors.

About Rush Street Interactive

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.