Jefferies Financial Group Forecasts Strong Price Appreciation for Rush Street Interactive (NYSE:RSI) Stock

Rush Street Interactive (NYSE:RSI) had its price target raised by Jefferies Financial Group from $17.00 to $18.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

Other analysts have also recently issued research reports about the company. Wall Street Zen raised Rush Street Interactive from a “buy” rating to a “strong-buy” rating in a research report on Monday, June 9th. JPMorgan Chase & Co. began coverage on Rush Street Interactive in a research note on Monday, June 23rd. They set a “neutral” rating and a $14.00 price target for the company. Needham & Company LLC reissued a “buy” rating and issued a $17.00 price target on shares of Rush Street Interactive in a research note on Thursday, May 1st. Benchmark increased their price objective on Rush Street Interactive from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Susquehanna lifted their target price on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company a “positive” rating in a research note on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $15.89.

Rush Street Interactive Stock Performance

RSI stock opened at $14.45 on Thursday. The firm has a 50 day simple moving average of $12.94 and a 200 day simple moving average of $12.91. Rush Street Interactive has a 52 week low of $8.52 and a 52 week high of $16.78. The stock has a market cap of $3.31 billion, a P/E ratio of 180.65 and a beta of 1.87.

Rush Street Interactive (NYSE:RSI) last issued its earnings results on Wednesday, April 30th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. Rush Street Interactive had a net margin of 0.87% and a return on equity of 7.35%. The company had revenue of $262.41 million during the quarter, compared to analyst estimates of $258.90 million. During the same quarter last year, the business posted $0.03 EPS. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. Sell-side analysts predict that Rush Street Interactive will post 0.04 EPS for the current year.

Insider Activity at Rush Street Interactive

In related news, insider Einar Roosileht sold 70,000 shares of the business’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $12.47, for a total value of $872,900.00. Following the completion of the sale, the insider directly owned 876,150 shares in the company, valued at approximately $10,925,590.50. The trade was a 7.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard Todd Schwartz sold 193,905 shares of the stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $10.63, for a total value of $2,061,210.15. Following the transaction, the chief executive officer owned 1,599,186 shares in the company, valued at approximately $16,999,347.18. This trade represents a 10.81% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,711,949 shares of company stock valued at $22,540,667. Corporate insiders own 56.94% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Arizona State Retirement System lifted its position in Rush Street Interactive by 5.4% during the 1st quarter. Arizona State Retirement System now owns 24,145 shares of the company’s stock worth $259,000 after acquiring an additional 1,232 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of Rush Street Interactive by 94.7% in the first quarter. Pacer Advisors Inc. now owns 2,533 shares of the company’s stock worth $27,000 after purchasing an additional 1,232 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Rush Street Interactive by 3.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,270 shares of the company’s stock worth $594,000 after purchasing an additional 1,632 shares during the period. Tidal Investments LLC lifted its position in shares of Rush Street Interactive by 6.3% during the 4th quarter. Tidal Investments LLC now owns 38,360 shares of the company’s stock worth $526,000 after purchasing an additional 2,280 shares during the last quarter. Finally, Heck Capital Advisors LLC bought a new stake in Rush Street Interactive during the 4th quarter valued at approximately $34,000. 24.78% of the stock is currently owned by institutional investors and hedge funds.

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.