Needham & Company LLC Reiterates Buy Rating for Rush Street Interactive (NYSE:RSI)

Needham & Company LLC reiterated their buy rating on shares of Rush Street Interactive (NYSE:RSI – Get Rating) in a report published on Thursday morning, Benzinga reports. Needham & Company LLC currently has a $6.00 target price on the stock.

Separately, JMP Securities dropped their price objective on Rush Street Interactive from $12.00 to $8.00 and set a market outperform rating on the stock in a research report on Friday, January 13th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Rush Street Interactive presently has an average rating of Moderate Buy and a consensus price target of $8.63.

Rush Street Interactive Trading Down 2.1 %

Shares of Rush Street Interactive stock opened at $3.76 on Thursday. The firm has a market cap of $829.08 million, a P/E ratio of -6.16 and a beta of 1.77. Rush Street Interactive has a 12 month low of $2.89 and a 12 month high of $9.34. The stock’s fifty day moving average price is $4.02 and its 200-day moving average price is $4.09.

Insiders Place Their Bets

In other Rush Street Interactive news, major shareholder Gregory A. Carlin sold 50,000 shares of the firm’s stock in a transaction dated Friday, February 17th. The stock was sold at an average price of $4.31, for a total value of $215,500.00. Following the completion of the sale, the insider now owns 1,354,402 shares of the company’s stock, valued at $5,837,472.62. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Rush Street Interactive news, major shareholder Gregory A. Carlin sold 100,000 shares of the firm’s stock in a transaction dated Thursday, February 2nd. The stock was sold at an average price of $4.63, for a total value of $463,000.00. Following the completion of the sale, the insider now owns 1,494,402 shares of the company’s stock, valued at $6,919,081.26. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Gregory A. Carlin sold 50,000 shares of the firm’s stock in a transaction dated Friday, February 17th. The stock was sold at an average price of $4.31, for a total value of $215,500.00. Following the completion of the sale, the insider now directly owns 1,354,402 shares of the company’s stock, valued at approximately $5,837,472.62. The disclosure for this sale can be found here. Corporate insiders own 58.02% of the company’s stock.

Institutional Investors Weigh In On Rush Street Interactive

Several institutional investors have recently added to or reduced their stakes in the business. HBK Sorce Advisory LLC acquired a new stake in shares of Rush Street Interactive during the third quarter worth about $28,000. Point72 Hong Kong Ltd lifted its holdings in shares of Rush Street Interactive by 138.1% during the third quarter. Point72 Hong Kong Ltd now owns 10,279 shares of the company’s stock worth $38,000 after purchasing an additional 5,962 shares during the period. Vident Investment Advisory LLC acquired a new stake in shares of Rush Street Interactive during the fourth quarter worth about $39,000. UBS Group AG lifted its holdings in shares of Rush Street Interactive by 357.1% during the fourth quarter. UBS Group AG now owns 13,943 shares of the company’s stock worth $50,000 after purchasing an additional 10,893 shares during the period. Finally, Verition Fund Management LLC acquired a new stake in shares of Rush Street Interactive during the second quarter worth about $51,000. Institutional investors and hedge funds own 35.79% of the company’s stock.

Rush Street Interactive Company Profile

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Rush Street Interactive, Inc operates as an online casino and sports betting company in the United States and 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.