Craig Hallum Forecasts Strong Price Appreciation for Rush Street Interactive (NYSE:RSI) Stock

Rush Street Interactive (NYSE:RSI) had its price objective boosted by equities research analysts at Craig Hallum from $14.00 to $17.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Craig Hallum’s target price would suggest a potential upside of 55.82% from the company’s previous close.

A number of other research analysts have also recently weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of Rush Street Interactive from $11.00 to $13.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Needham & Company LLC boosted their target price on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday. Oppenheimer boosted their target price on shares of Rush Street Interactive from $10.00 to $14.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Finally, Jefferies Financial Group boosted their target price on shares of Rush Street Interactive from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Rush Street Interactive currently has a consensus rating of “Moderate Buy” and an average price target of $12.43.

Rush Street Interactive Stock Up 0.8 %

RSI stock opened at $10.91 on Thursday. Rush Street Interactive has a twelve month low of $3.56 and a twelve month high of $11.59. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of -545.50 and a beta of 1.79. The firm’s fifty day simple moving average is $10.29 and its two-hundred day simple moving average is $9.32.

Rush Street Interactive (NYSE:RSI) last posted 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 net margin of 0.16% and a negative return on equity of 3.82%. The business had revenue of $220.38 million for the quarter, compared to analysts’ expectations of $201.37 million. During the same quarter in the previous year, the business posted ($0.08) earnings per share. The business’s revenue was up 33.5% compared to the same quarter last year. As a group, equities research analysts expect that Rush Street Interactive will post -0.01 EPS for the current year.

Insider Activity

In related news, CEO Richard Todd Schwartz sold 78,593 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $9.56, for a total value of $751,349.08. Following the completion of the sale, the chief executive officer now directly owns 1,984,404 shares of the company’s stock, valued at $18,970,902.24. This 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 business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $9.53, for a total value of $194,764.61. Following the completion of the transaction, the insider now directly owns 174,982 shares in the company, valued at approximately $1,667,578.46. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Richard Todd Schwartz sold 78,593 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $9.56, for a total transaction of $751,349.08. Following the completion of the transaction, the chief executive officer now owns 1,984,404 shares of the company’s stock, valued at $18,970,902.24. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 548,210 shares of company stock valued at $5,179,362. 56.89% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rush Street Interactive

A number of large investors have recently added to or reduced their stakes in RSI. New York State Teachers Retirement System raised its holdings in Rush Street Interactive by 17.2% in the third quarter. New York State Teachers Retirement System now owns 6,938 shares of the company’s stock worth $75,000 after purchasing an additional 1,020 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Rush Street Interactive by 13,627.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 11,943 shares of the company’s stock worth $78,000 after purchasing an additional 11,856 shares in the last quarter. Quarry LP raised its holdings in Rush Street Interactive by 15.9% in the second quarter. Quarry LP now owns 8,762 shares of the company’s stock worth $84,000 after purchasing an additional 1,200 shares in the last quarter. Principal Financial Group Inc. bought a new position in Rush Street Interactive in the second quarter worth about $98,000. Finally, CWM LLC raised its holdings in Rush Street Interactive by 425.6% in the third quarter. CWM LLC now owns 9,209 shares of the company’s stock worth $100,000 after purchasing 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.