Rush Street Interactive (NYSE:RSI) Price Target Raised to $15.00

Rush Street Interactive (NYSE:RSI) had its target price raised by Needham & Company LLC from $14.00 to $15.00 in a research report released on Thursday, Benzinga reports. They currently have a buy rating on the stock.

Other analysts also recently issued research reports about the stock. Wells Fargo & Company raised their price target on shares of Rush Street Interactive from $11.00 to $13.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Oppenheimer raised their price objective on shares of Rush Street Interactive from $10.00 to $14.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Finally, Craig Hallum boosted their target price on shares of Rush Street Interactive from $11.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Rush Street Interactive currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.43.

Rush Street Interactive Stock Performance

Shares of Rush Street Interactive stock opened at $10.91 on Thursday. Rush Street Interactive has a 1-year low of $3.56 and a 1-year high of $11.59. The business has a 50-day moving average of $10.29 and a 200-day moving average of $9.34.

Rush Street Interactive (NYSE:RSI) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.06. Rush Street Interactive had a negative return on equity of 3.82% and a negative net margin of 0.16%. The firm had revenue of $220.38 million during the quarter, compared to analyst estimates of $201.37 million. During the same quarter last year, the firm earned ($0.08) EPS. Rush Street Interactive’s quarterly revenue was up 33.5% on a year-over-year basis. As a group, analysts predict that Rush Street Interactive will post -0.01 EPS for the current fiscal year.

Insider Activity

In related news, insider Paul Wierbicki sold 20,437 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $9.53, for a total transaction of $194,764.61. Following the transaction, the insider now owns 174,982 shares in the company, valued at $1,667,578.46. This trade represents a 0.00 % decrease in their ownership of the stock. 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 20,437 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $9.53, for a total transaction of $194,764.61. Following the completion of the transaction, the insider now directly owns 174,982 shares of the company’s stock, valued at approximately $1,667,578.46. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Einar Roosileht sold 150,000 shares of Rush Street Interactive stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $9.09, for a total value of $1,363,500.00. Following the transaction, the insider now owns 809,260 shares in the company, valued at approximately $7,356,173.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 548,210 shares of company stock worth $5,179,362 over the last three months. Corporate 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 bought and sold shares of RSI. New York State Teachers Retirement System boosted its position in shares of Rush Street Interactive by 17.2% during the 3rd quarter. New York State Teachers Retirement System now owns 6,938 shares of the company’s stock valued at $75,000 after purchasing an additional 1,020 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Rush Street Interactive by 13,627.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 11,943 shares of the company’s stock valued at $78,000 after purchasing an additional 11,856 shares during the last quarter. Quarry LP boosted its holdings in Rush Street Interactive by 15.9% during the second quarter. Quarry LP now owns 8,762 shares of the company’s stock worth $84,000 after buying an additional 1,200 shares in the last quarter. Principal Financial Group Inc. acquired a new position in Rush Street Interactive in the second quarter worth approximately $98,000. Finally, CWM LLC increased its holdings in shares of Rush Street Interactive by 425.6% in the third quarter. CWM LLC now owns 9,209 shares of the company’s stock valued at $100,000 after buying an additional 7,457 shares in the last quarter. 24.78% of the stock is currently owned by institutional investors.

Rush Street Interactive Company Profile

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.