Rush Street Interactive (NYSE:RSI) Stock Price Expected to Rise, Susquehanna Analyst Says

Rush Street Interactive (NYSE:RSI) had its price objective lifted by investment analysts at Susquehanna from $12.00 to $14.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Susquehanna’s price objective indicates a potential upside of 5.49% from the stock’s previous close.

Other analysts have also issued research reports about the stock. Jefferies Financial Group boosted 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 report on Wednesday, January 15th. Needham & Company LLC increased their target price on Rush Street Interactive from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. JMP Securities reaffirmed 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 Rush Street Interactive from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Rush Street Interactive presently has a consensus rating of “Moderate Buy” and an average price target of $15.33.

Rush Street Interactive Stock Performance

RSI stock opened at $13.27 on Tuesday. The stock has a fifty day moving average of $14.43 and a 200-day moving average of $12.26. Rush Street Interactive has a fifty-two week low of $5.22 and a fifty-two week high of $16.78. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of -663.55 and a beta of 1.88.

Insider Activity at Rush Street Interactive

In other news, CEO Richard Todd Schwartz sold 149,605 shares of the stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $14.61, for a total value of $2,185,729.05. Following the transaction, the chief executive officer now owns 2,151,648 shares of the company’s stock, valued at $31,435,577.28. This represents a 6.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Mattias Stetz sold 25,000 shares of Rush Street Interactive stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $14.50, for a total transaction of $362,500.00. Following the sale, the chief operating officer now directly owns 550,484 shares of the company’s stock, valued at $7,982,018. This represents a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 825,853 shares of company stock valued at $11,655,336. Company insiders own 56.89% of the company’s stock.

Hedge Funds Weigh In On Rush Street Interactive

Institutional investors have recently modified their holdings of the company. Creative Planning purchased a new stake in Rush Street Interactive in the third quarter worth approximately $180,000. New York State Teachers Retirement System boosted its stake in shares of Rush Street Interactive by 17.2% in the 3rd quarter. New York State Teachers Retirement System now owns 6,938 shares of the company’s stock valued at $75,000 after purchasing an additional 1,020 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Rush Street Interactive by 656.2% in the 3rd 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. Mesirow Financial Investment Management Inc. grew its holdings in shares of Rush Street Interactive by 7.3% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 25,727 shares of the company’s stock valued at $279,000 after purchasing an additional 1,745 shares during the last quarter. Finally, Los Angeles Capital Management LLC purchased a new position in Rush Street Interactive in the 3rd quarter worth $1,795,000. 24.78% of the stock is currently owned by institutional investors.

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.