Rush Street Interactive (NYSE:RSI) Price Target Raised to $9.00

Rush Street Interactive (NYSE:RSI) had its price objective lifted by Needham & Company LLC from $8.00 to $9.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

RSI has been the subject of several other reports. Oppenheimer boosted their price objective on shares of Rush Street Interactive from $7.00 to $9.00 and gave the company an outperform rating in a research report on Thursday, March 7th. Susquehanna reissued a neutral rating and issued a $6.00 price objective (up previously from $5.00) on shares of Rush Street Interactive in a research note on Monday, March 4th. Craig Hallum upgraded Rush Street Interactive from a hold rating to a buy rating and raised their price objective for the stock from $7.00 to $8.00 in a report on Friday, April 19th. JMP Securities reiterated a market perform rating on shares of Rush Street Interactive in a report on Friday, March 8th. Finally, Wells Fargo & Company increased their price target on Rush Street Interactive from $7.00 to $8.00 and gave the stock an overweight rating in a research report on Thursday, March 7th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Rush Street Interactive presently has a consensus rating of Moderate Buy and an average price target of $8.33.

Rush Street Interactive Trading Up 4.1 %

Shares of NYSE RSI traded up $0.31 during midday trading on Thursday, hitting $7.86. The company’s stock had a trading volume of 4,314,466 shares, compared to its average volume of 1,325,317. Rush Street Interactive has a 12-month low of $2.85 and a 12-month high of $8.38. The firm has a market cap of $1.75 billion, a P/E ratio of -46.24 and a beta of 1.67. The business’s 50 day moving average is $6.28 and its two-hundred day moving average is $5.13.

Rush Street Interactive (NYSE:RSI) last released its earnings results on Wednesday, March 6th. The company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. Rush Street Interactive had a negative return on equity of 15.85% and a negative net margin of 1.58%. The business had revenue of $193.85 million for the quarter, compared to analyst estimates of $181.50 million. On average, analysts predict that Rush Street Interactive will post -0.22 earnings per share for the current fiscal year.

Insider Activity

In other Rush Street Interactive news, insider Paul Wierbicki sold 22,743 shares of Rush Street Interactive stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $5.83, for a total value of $132,591.69. Following the transaction, the insider now owns 174,982 shares in the company, valued at $1,020,145.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Rush Street Interactive news, insider Paul Wierbicki sold 22,743 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $5.83, for a total value of $132,591.69. Following the completion of the sale, the insider now directly owns 174,982 shares in the company, valued at $1,020,145.06. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Richard Todd Schwartz sold 38,687 shares of Rush Street Interactive stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $5.83, for a total transaction of $225,545.21. Following the completion of the transaction, the chief executive officer now directly owns 2,256,569 shares in the company, valued at $13,155,797.27. The disclosure for this sale can be found here. In the last three months, insiders have sold 331,552 shares of company stock worth $2,094,498. 56.96% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rush Street Interactive

Several institutional investors have recently added to or reduced their stakes in the business. PEAK6 Investments LLC boosted its stake in Rush Street Interactive by 387.2% in the 3rd quarter. PEAK6 Investments LLC now owns 309,765 shares of the company’s stock worth $1,431,000 after purchasing an additional 246,189 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Rush Street Interactive by 32.6% in the third quarter. Assenagon Asset Management S.A. now owns 1,836,077 shares of the company’s stock worth $8,483,000 after buying an additional 451,171 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in shares of Rush Street Interactive by 23.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 356,323 shares of the company’s stock worth $1,600,000 after buying an additional 68,255 shares during the period. Spire Wealth Management purchased a new stake in shares of Rush Street Interactive during the third quarter valued at $492,000. Finally, SG Americas Securities LLC raised its stake in Rush Street Interactive by 33.2% in the 4th quarter. SG Americas Securities LLC now owns 15,108 shares of the company’s stock worth $68,000 after acquiring an additional 3,764 shares during 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.