Rush Street Interactive, Inc. (NYSE:RSI) Receives $15.50 Consensus Price Target from Brokerages

Rush Street Interactive, Inc. (NYSE:RSI) has received a consensus recommendation of “Buy” from the nine ratings firms that are presently covering the firm, Marketbeat Ratings reports. One 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. The average 12-month price target among analysts that have issued a report on the stock in the last year is $15.50.

A number of research firms have weighed in on RSI. JMP Securities reaffirmed a “market perform” rating on shares of Rush Street Interactive in a report on Monday, January 6th. Macquarie reissued an “outperform” rating and set a $16.00 price objective on shares of Rush Street Interactive in a report on Thursday, February 27th. Needham & Company LLC reissued a “buy” rating and set a $17.00 price objective on shares of Rush Street Interactive in a report on Thursday, February 27th. Jefferies Financial Group boosted their price objective on Rush Street Interactive from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Finally, Wells Fargo & Company boosted their price objective on Rush Street Interactive from $14.00 to $15.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th.

Rush Street Interactive Stock Performance

Shares of Rush Street Interactive stock opened at $11.09 on Monday. The stock has a market capitalization of $2.53 billion, a P/E ratio of -554.30 and a beta of 1.92. Rush Street Interactive has a 52-week low of $5.71 and a 52-week high of $16.78. The stock’s 50-day simple moving average is $13.51 and its 200 day simple moving average is $12.42.

Insider Buying and Selling

In other Rush Street Interactive news, CFO Kyle Sauers sold 28,381 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $10.70, for a total value of $303,676.70. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Einar Roosileht sold 48,968 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $14.04, for a total value of $687,510.72. Following the completion of the sale, the insider now owns 830,292 shares of the company’s stock, valued at $11,657,299.68. The trade was a 5.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 988,545 shares of company stock worth $13,174,489 in the last quarter. 56.89% of the stock is owned by insiders.

Hedge Funds Weigh In On Rush Street Interactive

A number of hedge funds and other institutional investors have recently made changes to their positions in RSI. Principal Financial Group Inc. grew its stake in Rush Street Interactive by 656.2% in the third quarter. Principal Financial Group Inc. now owns 77,658 shares of the company’s stock worth $843,000 after purchasing an additional 67,388 shares during the period. Entropy Technologies LP purchased a new stake in Rush Street Interactive in the third quarter worth $175,000. Victory Capital Management Inc. purchased a new stake in Rush Street Interactive in the third quarter worth $546,000. Caprock Group LLC purchased a new stake in Rush Street Interactive in the third quarter worth $4,178,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in Rush Street Interactive by 72.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 820,955 shares of the company’s stock worth $8,907,000 after purchasing an additional 344,276 shares during the period. Institutional investors own 24.78% of the company’s stock.

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.