Rush Street Interactive, Inc. (NYSE:RSI) Receives $12.43 Consensus PT from Analysts

Shares of Rush Street Interactive, Inc. (NYSE:RSI) have received an average rating of “Moderate Buy” from the seven brokerages that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $12.43.

A number of brokerages have issued reports on RSI. Jefferies Financial Group upped their price objective on Rush Street Interactive from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Craig Hallum raised their price target on Rush Street Interactive from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Needham & Company LLC upped their price target on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, October 31st.

Rush Street Interactive Trading Up 3.7 %

Shares of NYSE RSI opened at $14.25 on Wednesday. Rush Street Interactive has a 12-month low of $3.56 and a 12-month high of $14.92. The firm’s 50-day moving average price is $12.84 and its 200-day moving average price is $10.90. The stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of -712.50 and a beta of 1.88.

Insider Transactions at Rush Street Interactive

In related news, insider Einar Roosileht sold 48,968 shares of Rush Street Interactive stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $14.04, for a total transaction of $687,510.72. Following the transaction, the insider now directly owns 830,292 shares of the company’s stock, valued at $11,657,299.68. This trade represents a 5.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Richard Todd Schwartz sold 103,905 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $11.02, for a total value of $1,145,033.10. Following the sale, the chief executive officer now owns 1,703,578 shares of the company’s stock, valued at approximately $18,773,429.56. This represents a 5.75 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 542,106 shares of company stock valued at $6,757,094. 56.89% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rush Street Interactive

Several institutional investors and hedge funds have recently added to or reduced their stakes in RSI. Geode Capital Management LLC lifted its position in shares of Rush Street Interactive by 5.6% during the third quarter. Geode Capital Management LLC now owns 1,736,259 shares of the company’s stock valued at $18,843,000 after buying an additional 92,314 shares during the last quarter. State Street Corp lifted its position in Rush Street Interactive by 3.6% during the third quarter. State Street Corp now owns 1,612,892 shares of the company’s stock valued at $17,500,000 after acquiring an additional 55,697 shares during the last quarter. Renaissance Technologies LLC lifted its position in Rush Street Interactive by 47.3% during the second quarter. Renaissance Technologies LLC now owns 1,504,200 shares of the company’s stock valued at $14,425,000 after acquiring an additional 482,872 shares during the last quarter. Federated Hermes Inc. boosted its stake in Rush Street Interactive by 10.9% in the second quarter. Federated Hermes Inc. now owns 1,329,825 shares of the company’s stock valued at $12,753,000 after acquiring an additional 130,217 shares in the last quarter. Finally, Driehaus Capital Management LLC purchased a new position in Rush Street Interactive in the second quarter worth $10,605,000. Hedge funds and other 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.