Analysts Set Rush Street Interactive, Inc. (NYSE:RSI) Price Target at $14.00

Shares of Rush Street Interactive, Inc. (NYSE:RSI) have received an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $14.00.

RSI has been the topic of several research reports. Needham & Company LLC lifted their price objective on shares of Rush Street Interactive from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Jefferies Financial Group lifted their target price on shares of Rush Street Interactive from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Craig Hallum lifted their target price on shares of Rush Street Interactive from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, JMP Securities reiterated a “market perform” rating on shares of Rush Street Interactive in a research note on Monday, January 6th.

Insider Activity at Rush Street Interactive

In other news, insider Paul Wierbicki sold 7,500 shares of the company’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $15.00, for a total value of $112,500.00. Following the sale, the insider now directly owns 139,387 shares of the company’s stock, valued at $2,090,805. This represents a 5.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard Todd Schwartz sold 45,256 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $13.51, for a total transaction of $611,408.56. Following the completion of the sale, the chief executive officer now directly owns 1,762,227 shares in the company, valued at $23,807,686.77. This represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 833,353 shares of company stock worth $11,760,336 in the last three months. 56.89% of the stock is owned by insiders.

Institutional Trading of Rush Street Interactive

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Millrace Asset Group Inc. purchased a new stake in Rush Street Interactive during the 3rd quarter valued at about $2,135,000. Principal Financial Group Inc. grew its position in Rush Street Interactive by 656.2% during the 3rd quarter. Principal Financial Group Inc. now owns 77,658 shares of the company’s stock valued at $843,000 after purchasing an additional 67,388 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Rush Street Interactive by 72.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 820,955 shares of the company’s stock valued at $8,907,000 after purchasing an additional 344,276 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Rush Street Interactive during the 3rd quarter valued at about $656,000. Finally, Legato Capital Management LLC purchased a new stake in Rush Street Interactive during the 4th quarter valued at about $1,897,000. 24.78% of the stock is owned by hedge funds and other institutional investors.

Rush Street Interactive Price Performance

RSI opened at $13.69 on Thursday. The firm has a market capitalization of $3.09 billion, a P/E ratio of -684.35 and a beta of 1.88. Rush Street Interactive has a fifty-two week low of $5.22 and a fifty-two week high of $16.78. The company’s 50-day moving average is $14.45 and its 200 day moving average is $12.18.

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.