Rush Street Interactive (NYSE:RSI) Price Target Raised to $15.00

Rush Street Interactive (NYSE:RSI) had its price target boosted by Wells Fargo & Company from $14.00 to $15.00 in a research report released on Thursday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Other analysts also recently issued reports about the company. Needham & Company LLC reiterated a “buy” rating and set a $17.00 target price on shares of Rush Street Interactive in a research note on Thursday. JMP Securities reiterated a “market perform” rating on shares of Rush Street Interactive in a research note on Monday, January 6th. Susquehanna increased their target price on Rush Street Interactive from $12.00 to $14.00 and gave the company a “neutral” rating in a research note on Tuesday, February 25th. Jefferies Financial Group raised their price target on Rush Street Interactive from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Finally, 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 note on Thursday, October 31st. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $15.50.

Rush Street Interactive Trading Up 3.5 %

Shares of RSI opened at $11.66 on Thursday. The business’s fifty day simple moving average is $14.35 and its two-hundred day simple moving average is $12.29. Rush Street Interactive has a 12 month low of $5.22 and a 12 month high of $16.78. The company has a market cap of $2.63 billion, a price-to-earnings ratio of -583.00 and a beta of 1.88.

Insider Buying and Selling

In other Rush Street Interactive news, CEO Richard Todd Schwartz sold 45,256 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $13.51, for a total transaction of $611,408.56. Following the sale, the chief executive officer now directly owns 1,762,227 shares of the company’s stock, valued at $23,807,686.77. This trade represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Wierbicki sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $15.00, for a total value of $112,500.00. Following the sale, the insider now directly owns 139,387 shares in the company, valued at approximately $2,090,805. This represents a 5.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 825,853 shares of company stock valued at $11,655,336. 56.89% of the stock is owned by company insiders.

Institutional Investors Weigh In On Rush Street Interactive

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Rush Street Interactive by 14.0% during the fourth quarter. Vanguard Group Inc. now owns 8,596,434 shares of the company’s stock valued at $117,943,000 after acquiring an additional 1,056,583 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of Rush Street Interactive by 62.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,663,246 shares of the company’s stock worth $36,540,000 after purchasing an additional 1,018,889 shares during the last quarter. Driehaus Capital Management LLC increased its holdings in shares of Rush Street Interactive by 56.6% in the fourth quarter. Driehaus Capital Management LLC now owns 2,200,517 shares of the company’s stock worth $30,191,000 after purchasing an additional 795,719 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Rush Street Interactive by 7,958.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,029,239 shares of the company’s stock worth $27,843,000 after purchasing an additional 2,004,059 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Rush Street Interactive by 43.9% in the fourth quarter. Renaissance Technologies LLC now owns 1,962,400 shares of the company’s stock worth $26,924,000 after purchasing an additional 598,300 shares during the last quarter. 24.78% of the stock is owned by institutional investors.

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.