Rush Street Interactive (NYSE:RSI) Receives Buy Rating from Needham & Company LLC

Rush Street Interactive (NYSE:RSI)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $17.00 price objective on the stock. Needham & Company LLC’s price target suggests a potential upside of 45.80% from the stock’s current price.

RSI has been the subject of several other research reports. JMP Securities restated a “market perform” rating on shares of Rush Street Interactive in a report on Monday, January 6th. Craig Hallum raised their target price on shares of Rush Street Interactive from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Susquehanna lifted their price objective on shares of Rush Street Interactive from $12.00 to $14.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Jefferies Financial Group lifted their price objective on shares of Rush Street Interactive from $16.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $15.50.

Rush Street Interactive Trading Up 3.5 %

Rush Street Interactive stock opened at $11.66 on Thursday. The firm has a 50-day moving average price of $14.35 and a 200-day moving average price of $12.27. The firm has a market capitalization of $2.63 billion, a PE ratio of -583.00 and a beta of 1.88. Rush Street Interactive has a 12-month low of $5.22 and a 12-month high of $16.78.

Insider Activity

In other news, CEO Richard Todd Schwartz sold 45,256 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $13.51, for a total value of $611,408.56. Following the completion of the sale, the chief executive officer now owns 1,762,227 shares in the company, valued at approximately $23,807,686.77. The trade was a 2.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Mattias Stetz sold 25,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $14.50, for a total transaction of $362,500.00. Following the completion of the sale, the chief operating officer now owns 550,484 shares of the company’s stock, valued at approximately $7,982,018. This represents a 4.34 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 825,853 shares of company stock worth $11,655,336. 56.89% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. R Squared Ltd purchased a new position in shares of Rush Street Interactive in the 4th quarter worth approximately $28,000. Heck Capital Advisors LLC purchased a new position in shares of Rush Street Interactive in the 4th quarter worth approximately $34,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Rush Street Interactive in the 3rd quarter worth approximately $44,000. WealthTrak Capital Management LLC purchased a new position in shares of Rush Street Interactive in the 4th quarter worth approximately $71,000. Finally, Point72 DIFC Ltd purchased a new position in shares of Rush Street Interactive in the 3rd quarter worth approximately $70,000. Hedge funds and other institutional investors own 24.78% of the company’s stock.

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.