Rush Street Interactive, Inc. (NYSE:RSI) Short Interest Update

Rush Street Interactive, Inc. (NYSE:RSI) saw a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 9,090,000 shares, an increase of 18.7% from the February 13th total of 7,660,000 shares. Based on an average daily volume of 2,010,000 shares, the short-interest ratio is presently 4.5 days. Currently, 9.3% of the company’s shares are short sold.

Rush Street Interactive Price Performance

NYSE:RSI opened at $10.63 on Wednesday. The firm has a 50-day moving average of $13.58 and a 200-day moving average of $12.43. The company has a market cap of $2.43 billion, a PE ratio of -531.70 and a beta of 1.92. Rush Street Interactive has a one year low of $5.71 and a one year high of $16.78.

Insider Transactions at Rush Street Interactive

In related news, Director Judith Gold sold 118,001 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $13.55, for a total value of $1,598,913.55. Following the transaction, the director now owns 21,999 shares in the company, valued at $298,086.45. The trade was a 84.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kyle Sauers sold 28,381 shares of the business’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $10.70, for a total transaction of $303,676.70. Following the completion of the transaction, the chief financial officer now owns 470,323 shares in the company, valued at approximately $5,032,456.10. The trade was a 5.69 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 988,545 shares of company stock worth $13,174,489. Company insiders own 56.89% of the company’s stock.

Institutional Investors Weigh In On Rush Street Interactive

Several hedge funds and other institutional investors have recently made changes to their positions in RSI. California State Teachers Retirement System boosted its holdings in Rush Street Interactive by 8.1% during the fourth quarter. California State Teachers Retirement System now owns 73,625 shares of the company’s stock worth $1,010,000 after purchasing an additional 5,510 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in Rush Street Interactive during the fourth quarter worth about $200,000. Heck Capital Advisors LLC purchased a new position in Rush Street Interactive during the fourth quarter worth about $34,000. Mackenzie Financial Corp purchased a new position in Rush Street Interactive during the fourth quarter worth about $1,123,000. Finally, PharVision Advisers LLC purchased a new position in Rush Street Interactive during the fourth quarter worth about $400,000. 24.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Benchmark lifted their price target on shares of Rush Street Interactive from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Wells Fargo & Company lifted their price target on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. JMP Securities reaffirmed a “market perform” rating on shares of Rush Street Interactive in a research note on Monday, January 6th. Jefferies Financial Group lifted their price target 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. Finally, Susquehanna raised shares of Rush Street Interactive from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 28th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $15.50.

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.