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

Rush Street Interactive, Inc. (NYSE:RSI) has been assigned an average recommendation of “Moderate Buy” from the seven research firms that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $14.00.

A number of equities analysts recently weighed in on the stock. JMP Securities reissued a “market perform” rating on shares of Rush Street Interactive in a report on Monday, January 6th. Jefferies Financial Group raised their target price 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. Craig Hallum increased their price target on 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, Needham & Company LLC boosted their price objective on Rush Street Interactive from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, January 17th.

Insiders Place Their Bets

In other news, CEO Richard Todd Schwartz sold 103,905 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $11.02, for a total transaction of $1,145,033.10. Following the completion of the transaction, the chief executive officer now directly owns 1,703,578 shares in the company, valued at $18,773,429.56. The trade was a 5.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Mattias Stetz sold 20,000 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $11.02, for a total value of $220,400.00. Following the completion of the sale, the chief operating officer now owns 580,484 shares in the company, valued at $6,396,933.68. This trade represents a 3.33 % 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 quarter. 56.89% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC increased its position in shares of Rush Street Interactive by 5.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,736,259 shares of the company’s stock valued at $18,843,000 after purchasing an additional 92,314 shares during the last quarter. State Street Corp boosted its stake in Rush Street Interactive by 3.6% in the third quarter. State Street Corp now owns 1,612,892 shares of the company’s stock worth $17,500,000 after buying an additional 55,697 shares in the last quarter. Driehaus Capital Management LLC purchased a new position in shares of Rush Street Interactive during the second quarter worth approximately $10,605,000. Marshall Wace LLP lifted its holdings in shares of Rush Street Interactive by 185.5% in the 2nd quarter. Marshall Wace LLP now owns 981,822 shares of the company’s stock worth $9,416,000 after acquiring an additional 637,883 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Rush Street Interactive by 72.2% in 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 in the last quarter. Hedge funds and other institutional investors own 24.78% of the company’s stock.

Rush Street Interactive Trading Up 1.6 %

Shares of Rush Street Interactive stock opened at $14.28 on Friday. The firm has a market capitalization of $3.22 billion, a P/E ratio of -713.75 and a beta of 1.88. The business’s fifty day simple moving average is $14.03 and its 200 day simple moving average is $11.56. Rush Street Interactive has a 12 month low of $5.11 and a 12 month high of $15.98.

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.