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

Rush Street Interactive, Inc. (NYSE:RSI) was the target of 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. Currently, 9.3% of the company’s shares are short sold. Based on an average daily trading volume, of 2,010,000 shares, the short-interest ratio is currently 4.5 days.

Rush Street Interactive Price Performance

Shares of NYSE RSI opened at $11.09 on Thursday. The company has a market capitalization of $2.53 billion, a price-to-earnings ratio of -554.30 and a beta of 1.92. The business has a 50-day moving average of $13.51 and a two-hundred day moving average of $12.42. Rush Street Interactive has a 1 year low of $5.71 and a 1 year high of $16.78.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on RSI shares. Benchmark lifted their target price on Rush Street Interactive from $12.00 to $14.00 and gave the company a “buy” rating in a report on Friday, February 28th. Jefferies Financial Group lifted their target price on Rush Street Interactive from $16.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. Wells Fargo & Company lifted their target price on Rush Street Interactive from $14.00 to $15.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. JMP Securities reaffirmed a “market perform” rating on shares of Rush Street Interactive in a report on Monday, January 6th. Finally, Susquehanna raised Rush Street Interactive from a “hold” rating to a “strong-buy” rating in a report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $15.50.

Insider Transactions at Rush Street Interactive

In other news, CFO Kyle Sauers sold 28,381 shares of the firm’s stock in a transaction on Tuesday, March 18th. The stock was 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 directly owns 470,323 shares in the company, valued at $5,032,456.10. This trade represents a 5.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Judith Gold sold 118,001 shares of Rush Street Interactive 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 completion of the transaction, the director now owns 21,999 shares of the company’s stock, valued at approximately $298,086.45. This trade represents a 84.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 988,545 shares of company stock worth $13,174,489 over the last ninety days. Company insiders own 56.89% of the company’s stock.

Institutional Trading of Rush Street Interactive

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Exchange Traded Concepts LLC increased its position in shares of Rush Street Interactive by 0.4% during the fourth quarter. Exchange Traded Concepts LLC now owns 260,380 shares of the company’s stock worth $3,572,000 after purchasing an additional 1,087 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Rush Street Interactive by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,270 shares of the company’s stock worth $594,000 after purchasing an additional 1,632 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Rush Street Interactive during the fourth quarter worth about $28,000. Arizona State Retirement System increased its position in shares of Rush Street Interactive by 11.0% during the fourth quarter. Arizona State Retirement System now owns 22,913 shares of the company’s stock worth $314,000 after purchasing an additional 2,265 shares in the last quarter. Finally, Tidal Investments LLC increased its position in shares of Rush Street Interactive by 6.3% during the fourth quarter. Tidal Investments LLC now owns 38,360 shares of the company’s stock worth $526,000 after purchasing an additional 2,280 shares in the last quarter. Institutional investors and hedge funds own 24.78% of the company’s stock.

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.