Rush Street Interactive (NYSE:RSI) Price Target Raised to $17.00 at Jefferies Financial Group

Rush Street Interactive (NYSE:RSI) had its price objective raised by Jefferies Financial Group from $16.00 to $17.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other brokerages also recently issued reports on RSI. Needham & Company LLC upped their price objective on Rush Street Interactive from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. JMP Securities restated a “market perform” rating on shares of Rush Street Interactive in a research note on Monday, January 6th. Finally, Craig Hallum upped their price objective 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. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $13.67.

Rush Street Interactive Trading Up 2.3 %

Shares of Rush Street Interactive stock opened at $15.49 on Wednesday. The company has a market capitalization of $3.50 billion, a P/E ratio of -774.50 and a beta of 1.88. The stock has a fifty day simple moving average of $13.36 and a 200 day simple moving average of $11.16. Rush Street Interactive has a 12-month low of $3.85 and a 12-month high of $15.68.

Insider Buying and Selling at Rush Street Interactive

In related news, COO Mattias Stetz sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $12.00, for a total transaction of $60,000.00. Following the transaction, the chief operating officer now directly owns 575,484 shares in the company, valued at $6,905,808. This trade represents a 0.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard Todd Schwartz sold 103,905 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $11.02, for a total value of $1,145,033.10. Following the transaction, the chief executive officer now owns 1,703,578 shares in the company, valued at approximately $18,773,429.56. The trade was a 5.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 884,287 shares of company stock valued at $11,632,978 in the last 90 days. Corporate insiders own 56.89% of the company’s stock.

Hedge Funds Weigh In On Rush Street Interactive

Several institutional investors and hedge funds have recently bought and sold shares of RSI. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Rush Street Interactive in the 3rd quarter worth approximately $44,000. Point72 DIFC Ltd purchased a new position in shares of Rush Street Interactive in the 3rd quarter valued at approximately $70,000. New York State Teachers Retirement System lifted its stake in shares of Rush Street Interactive by 17.2% in the 3rd quarter. New York State Teachers Retirement System now owns 6,938 shares of the company’s stock valued at $75,000 after purchasing an additional 1,020 shares during the period. Quarry LP lifted its stake in shares of Rush Street Interactive by 15.9% in the 2nd quarter. Quarry LP now owns 8,762 shares of the company’s stock valued at $84,000 after purchasing an additional 1,200 shares during the period. Finally, CWM LLC lifted its stake in shares of Rush Street Interactive by 425.6% in the 3rd quarter. CWM LLC now owns 9,209 shares of the company’s stock valued at $100,000 after purchasing an additional 7,457 shares during the period. 24.78% of the stock is currently 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.