Brokerages Set Rush Street Interactive, Inc. (NYSE:RSI) Price Target at $17.89

Shares of Rush Street Interactive, Inc. (NYSE:RSI) have earned a consensus rating of “Moderate Buy” from the ten brokerages that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $17.8889.

Several research analysts have recently weighed in on RSI shares. JPMorgan Chase & Co. began coverage on shares of Rush Street Interactive in a report on Monday, June 23rd. They set a “neutral” rating and a $14.00 price objective on the stock. Wall Street Zen lowered shares of Rush Street Interactive from a “strong-buy” rating to a “buy” rating in a report on Saturday. Needham & Company LLC increased their price target on Rush Street Interactive from $17.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, July 31st. Jefferies Financial Group raised their price objective on Rush Street Interactive from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, July 3rd. Finally, Susquehanna reaffirmed a “positive” rating and issued a $19.00 target price (up previously from $15.00) on shares of Rush Street Interactive in a research report on Wednesday, July 30th.

Rush Street Interactive Stock Performance

Shares of RSI opened at $19.54 on Thursday. Rush Street Interactive has a 1 year low of $8.76 and a 1 year high of $20.32. The company’s fifty day moving average is $15.71 and its two-hundred day moving average is $13.44. The stock has a market capitalization of $4.46 billion, a P/E ratio of 97.70 and a beta of 1.90.

Rush Street Interactive (NYSE:RSI) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.03. The company had revenue of $269.22 million for the quarter, compared to the consensus estimate of $248.98 million. Rush Street Interactive had a net margin of 2.48% and a return on equity of 16.53%. The company’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.04 earnings per share. Sell-side analysts predict that Rush Street Interactive will post 0.04 EPS for the current year.

Insider Buying and Selling at Rush Street Interactive

In related news, Director Masi Niccolo De sold 446,094 shares of Rush Street Interactive stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $18.35, for a total value of $8,185,824.90. Following the completion of the sale, the director owned 15,203 shares in the company, valued at approximately $278,975.05. The trade was a 96.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Judith Gold sold 100,000 shares of the stock in a transaction on Monday, August 4th. The shares were sold at an average price of $19.61, for a total transaction of $1,961,000.00. Following the transaction, the director owned 111,629 shares in the company, valued at $2,189,044.69. This trade represents a 47.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,816,090 shares of company stock valued at $44,026,948 in the last three months. Corporate insiders own 56.94% of the company’s stock.

Institutional Investors Weigh In On Rush Street Interactive

Several hedge funds and other institutional investors have recently modified their holdings of RSI. LPL Financial LLC acquired a new position in Rush Street Interactive in the fourth quarter worth $173,000. JPMorgan Chase & Co. lifted its position in shares of Rush Street Interactive by 53.0% in the 4th quarter. JPMorgan Chase & Co. now owns 406,094 shares of the company’s stock worth $5,572,000 after buying an additional 140,682 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Rush Street Interactive by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 1,793,273 shares of the company’s stock valued at $24,610,000 after buying an additional 57,014 shares during the period. Wells Fargo & Company MN grew its position in shares of Rush Street Interactive by 32.4% during the 4th quarter. Wells Fargo & Company MN now owns 87,551 shares of the company’s stock valued at $1,201,000 after buying an additional 21,418 shares during the last quarter. Finally, Cerity Partners LLC grew its position in shares of Rush Street Interactive by 22.4% during the 4th quarter. Cerity Partners LLC now owns 15,031 shares of the company’s stock valued at $205,000 after buying an additional 2,753 shares during the last quarter. 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.