Rush Street Interactive (NYSE:RSI) Price Target Raised to $17.00

Rush Street Interactive (NYSE:RSI) had its target price upped by Needham & Company LLC from $15.00 to $17.00 in a report released on Friday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

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

Rush Street Interactive Stock Up 0.6 %

RSI opened at $15.02 on Friday. The firm has a market capitalization of $3.39 billion, a P/E ratio of -751.20 and a beta of 1.88. The stock has a fifty day moving average of $13.61 and a 200-day moving average of $11.28. Rush Street Interactive has a 12-month low of $4.45 and a 12-month high of $15.68.

Insider Activity

In other news, insider Einar Roosileht sold 48,968 shares of the stock in a transaction 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 owns 830,292 shares in the company, valued at $11,657,299.68. This represents a 5.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Judith Gold sold 118,001 shares of Rush Street Interactive stock in a transaction on Monday, December 30th. The shares were sold at an average price of $13.55, for a total transaction of $1,598,913.55. Following the completion of the sale, the director now directly owns 21,999 shares of the company’s stock, valued at approximately $298,086.45. The trade was a 84.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 884,287 shares of company stock worth $11,632,978 in the last three months. 56.89% of the stock is owned by insiders.

Institutional Trading of Rush Street Interactive

Several large investors have recently made changes to their positions in RSI. Driehaus Capital Management LLC acquired a new stake in Rush Street Interactive in the 2nd quarter worth approximately $10,605,000. Marshall Wace LLP raised its position in shares of Rush Street Interactive by 185.5% in the second quarter. Marshall Wace LLP now owns 981,822 shares of the company’s stock valued at $9,416,000 after purchasing an additional 637,883 shares during the period. Millennium Management LLC lifted its stake in shares of Rush Street Interactive by 378.4% in the second quarter. Millennium Management LLC now owns 620,552 shares of the company’s stock worth $5,951,000 after buying an additional 490,831 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Rush Street Interactive by 47.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,504,200 shares of the company’s stock worth $14,425,000 after buying an additional 482,872 shares during the period. Finally, Caprock Group LLC acquired a new position in Rush Street Interactive in the 3rd quarter valued at $4,178,000. 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.