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

Rush Street Interactive (NYSE:RSI) had its target price lifted by Susquehanna from $14.00 to $15.00 in a research report sent to investors on Thursday morning,Benzinga reports. Susquehanna currently has a positive rating on the stock.

Several other brokerages have also issued reports on RSI. Benchmark boosted their target price on Rush Street Interactive from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Macquarie restated an “outperform” rating and issued a $16.00 price objective on shares of Rush Street Interactive in a research note on Thursday, February 27th. Jefferies Financial Group increased their target price on shares of Rush Street Interactive from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Wells Fargo & Company boosted their price target on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. Finally, JMP Securities restated a “market perform” rating on shares of Rush Street Interactive in a research note on Monday, January 6th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $15.63.

Rush Street Interactive Stock Performance

RSI opened at $11.68 on Thursday. Rush Street Interactive has a fifty-two week low of $7.91 and a fifty-two week high of $16.78. The firm has a 50-day moving average of $11.24 and a 200 day moving average of $12.66. The firm has a market cap of $2.66 billion, a P/E ratio of -584.00 and a beta of 1.90.

Rush Street Interactive (NYSE:RSI) last released its earnings results on Wednesday, April 30th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. The firm had revenue of $262.41 million during the quarter, compared to the consensus estimate of $258.90 million. Rush Street Interactive had a negative net margin of 0.16% and a negative return on equity of 3.73%. The company’s revenue was up 20.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.03 EPS. Equities research analysts predict that Rush Street Interactive will post 0.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Rush Street Interactive

In other Rush Street Interactive news, CEO Richard Todd Schwartz sold 109,567 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $9.85, for a total value of $1,079,234.95. Following the completion of the transaction, the chief executive officer now owns 2,082,376 shares of the company’s stock, valued at $20,511,403.60. The trade was a 5.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Mattias Stetz sold 25,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $14.40, for a total transaction of $360,000.00. Following the completion of the transaction, the chief operating officer now directly owns 561,089 shares in the company, valued at $8,079,681.60. The trade was a 4.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 750,758 shares of company stock valued at $8,865,603 in the last three months. Company insiders own 56.89% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC raised its position in Rush Street Interactive by 0.4% during the fourth quarter. Exchange Traded Concepts LLC now owns 260,380 shares of the company’s stock valued at $3,572,000 after purchasing an additional 1,087 shares in the last quarter. Arizona State Retirement System increased its position in shares of Rush Street Interactive by 5.4% during the 1st quarter. Arizona State Retirement System now owns 24,145 shares of the company’s stock valued at $259,000 after purchasing an additional 1,232 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Rush Street Interactive by 3.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,270 shares of the company’s stock valued at $594,000 after buying an additional 1,632 shares in the last quarter. R Squared Ltd bought a new stake in Rush Street Interactive in the 4th quarter worth approximately $28,000. Finally, Tidal Investments LLC boosted its stake in Rush Street Interactive by 6.3% in the fourth quarter. Tidal Investments LLC now owns 38,360 shares of the company’s stock worth $526,000 after buying an additional 2,280 shares in the last quarter. 24.78% of the stock is currently owned by hedge funds and other 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.