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

Shares of Rush Street Interactive, Inc. (NYSE:RSI) have received a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $14.00.

A number of analysts have commented on the stock. Jefferies Financial Group increased their price target on shares of Rush Street Interactive from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. 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 research note on Thursday, October 31st. Needham & Company LLC raised their target price on shares of Rush Street Interactive from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Finally, JMP Securities restated a “market perform” rating on shares of Rush Street Interactive in a research note on Monday, January 6th.

Insider Buying and Selling

In other Rush Street Interactive news, Director Judith Gold sold 118,001 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $13.55, for a total value of $1,598,913.55. Following the completion of the sale, the director now directly owns 21,999 shares in the company, valued at approximately $298,086.45. This trade represents a 84.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Richard Todd Schwartz sold 133,905 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $14.22, for a total transaction of $1,904,129.10. Following the completion of the sale, the chief executive officer now owns 2,251,943 shares of the company’s stock, valued at $32,022,629.46. The trade was a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 833,353 shares of company stock worth $11,760,336 in the last ninety days. Company insiders own 56.89% of the company’s stock.

Institutional Investors Weigh In On Rush Street Interactive

A number of large investors have recently bought and sold shares of RSI. Millrace Asset Group Inc. bought a new position in shares of Rush Street Interactive in the third quarter valued at $2,135,000. Principal Financial Group Inc. lifted its position in shares of Rush Street Interactive by 656.2% during the third quarter. Principal Financial Group Inc. now owns 77,658 shares of the company’s stock valued at $843,000 after purchasing an additional 67,388 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Rush Street Interactive by 72.2% during the third 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Rush Street Interactive during the third quarter valued at about $656,000. Finally, Legato Capital Management LLC bought a new position in shares of Rush Street Interactive during the fourth quarter valued at about $1,897,000. 24.78% of the stock is currently owned by institutional investors and hedge funds.

Rush Street Interactive Price Performance

Shares of RSI stock opened at $13.69 on Thursday. The stock has a market cap of $3.09 billion, a P/E ratio of -684.35 and a beta of 1.88. The company has a fifty day moving average price of $14.45 and a two-hundred day moving average price of $12.18. Rush Street Interactive has a one year low of $5.22 and a one year high of $16.78.

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.