Rush Street Interactive (NYSE:RSI) PT Raised to $9.00 at Wells Fargo & Company

Rush Street Interactive (NYSE:RSI) had its price objective increased by investment analysts at Wells Fargo & Company from $8.00 to $9.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 14.50% from the company’s previous close.

Several other equities research analysts have also weighed in on the stock. Oppenheimer increased their target price on shares of Rush Street Interactive from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Thursday. Susquehanna reiterated a “neutral” rating and set a $6.00 target price (up from $5.00) on shares of Rush Street Interactive in a report on Monday, March 4th. JMP Securities restated a “market perform” rating on shares of Rush Street Interactive in a report on Friday, March 8th. Needham & Company LLC lifted their price objective on Rush Street Interactive from $8.00 to $9.00 and gave the company a “buy” rating in a report on Thursday. Finally, Craig Hallum upgraded Rush Street Interactive from a “hold” rating to a “buy” rating and boosted their price objective for the company from $7.00 to $8.00 in a research report on Friday, April 19th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $8.33.

Rush Street Interactive Stock Up 4.1 %

RSI traded up $0.31 during midday trading on Thursday, reaching $7.86. 4,314,466 shares of the company’s stock were exchanged, compared to its average volume of 1,325,317. Rush Street Interactive has a one year low of $2.85 and a one year high of $8.38. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of -46.24 and a beta of 1.67. The business has a 50-day simple moving average of $6.28 and a two-hundred day simple moving average of $5.13.

Rush Street Interactive (NYSE:RSI) last released its earnings results on Wednesday, March 6th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.01. The firm had revenue of $193.85 million for the quarter, compared to analyst estimates of $181.50 million. Rush Street Interactive had a negative return on equity of 15.85% and a negative net margin of 1.58%. As a group, research analysts anticipate that Rush Street Interactive will post -0.22 EPS for the current fiscal year.

Insider Buying and Selling at Rush Street Interactive

In related news, insider Paul Wierbicki sold 22,743 shares of Rush Street Interactive stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $5.83, for a total transaction of $132,591.69. Following the completion of the sale, the insider now owns 174,982 shares of the company’s stock, valued at approximately $1,020,145.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, COO Mattias Stetz sold 13,657 shares of Rush Street Interactive stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $5.83, for a total value of $79,620.31. Following the completion of the sale, the chief operating officer now directly owns 692,045 shares in the company, valued at $4,034,622.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Paul Wierbicki sold 22,743 shares of the firm’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $5.83, for a total transaction of $132,591.69. Following the transaction, the insider now directly owns 174,982 shares of the company’s stock, valued at approximately $1,020,145.06. The disclosure for this sale can be found here. Insiders have sold a total of 331,552 shares of company stock worth $2,094,498 over the last ninety days. Insiders own 56.96% of the company’s stock.

Institutional Trading of Rush Street Interactive

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in shares of Rush Street Interactive in the third quarter valued at approximately $52,000. Allspring Global Investments Holdings LLC grew its holdings in Rush Street Interactive by 13,627.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,943 shares of the company’s stock worth $78,000 after acquiring an additional 11,856 shares during the last quarter. Aigen Investment Management LP purchased a new position in shares of Rush Street Interactive during the fourth quarter valued at approximately $90,000. Tower Research Capital LLC TRC lifted its holdings in Rush Street Interactive by 665.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 21,923 shares of the company’s stock worth $98,000 after buying an additional 19,058 shares during the period. Finally, Fox Run Management L.L.C. bought a new stake in Rush Street Interactive in the third quarter worth $107,000. 24.78% of the stock is 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.