Rush Street Interactive, Inc. (NYSE:RSI) Receives $12.43 Consensus Price Target from Analysts

Shares of Rush Street Interactive, Inc. (NYSE:RSI) have received an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $12.43.

A number of analysts have commented on RSI shares. Oppenheimer upped their target price on shares of Rush Street Interactive from $10.00 to $14.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Jefferies Financial Group boosted their price objective on Rush Street Interactive from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Wells Fargo & Company raised their price objective on shares of Rush Street Interactive from $11.00 to $13.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Craig Hallum lifted their target price 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. Finally, Needham & Company LLC lifted their price objective on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, October 31st.

Insider Activity at Rush Street Interactive

In other news, insider Einar Roosileht sold 150,000 shares of Rush Street Interactive stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $9.09, for a total value of $1,363,500.00. Following the completion of the transaction, the insider now owns 809,260 shares in the company, valued at approximately $7,356,173.40. This trade represents a 15.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Paul Wierbicki sold 35,000 shares of Rush Street Interactive stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $11.23, for a total transaction of $393,050.00. Following the completion of the transaction, the insider now owns 139,982 shares of the company’s stock, valued at $1,571,997.86. This represents a 20.00 % decrease in their position. The disclosure for this sale can be found here. 56.89% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rush Street Interactive

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Verition Fund Management LLC increased its holdings in Rush Street Interactive by 65.1% in the third quarter. Verition Fund Management LLC now owns 158,721 shares of the company’s stock valued at $1,722,000 after buying an additional 62,556 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Rush Street Interactive in the 3rd quarter worth about $656,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Rush Street Interactive in the third quarter valued at about $44,000. Millrace Asset Group Inc. purchased a new position in shares of Rush Street Interactive in the third quarter valued at $2,135,000. Finally, Algert Global LLC boosted its holdings in Rush Street Interactive by 117.6% in the third quarter. Algert Global LLC now owns 510,361 shares of the company’s stock valued at $5,537,000 after purchasing an additional 275,788 shares during the last quarter. Hedge funds and other institutional investors own 24.78% of the company’s stock.

Rush Street Interactive Trading Down 0.7 %

Shares of NYSE:RSI opened at $11.41 on Tuesday. Rush Street Interactive has a 12-month low of $3.56 and a 12-month high of $12.46. The stock has a fifty day simple moving average of $10.64 and a two-hundred day simple moving average of $9.64. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of -570.50 and a beta of 1.78.

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.