Needham & Company LLC Issues Positive Forecast for Rush Street Interactive (NYSE:RSI) Stock Price

Rush Street Interactive (NYSE:RSI) had its target price lifted by Needham & Company LLC from $15.00 to $17.00 in a research note released on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other brokerages also recently issued reports on RSI. JMP Securities reiterated a “market perform” rating on shares of Rush Street Interactive in a research report on Monday, January 6th. Craig Hallum lifted their price target on Rush Street Interactive from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Jefferies Financial Group upped their price objective 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. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $14.00.

Rush Street Interactive Trading Up 0.6 %

RSI stock opened at $15.02 on Friday. The firm has a 50 day moving average of $13.61 and a 200-day moving average of $11.25. The firm has a market capitalization of $3.39 billion, a P/E ratio of -751.20 and a beta of 1.88. Rush Street Interactive has a 12 month low of $4.45 and a 12 month high of $15.68.

Insiders Place Their Bets

In other news, insider Paul Wierbicki sold 35,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $11.23, for a total transaction of $393,050.00. Following the transaction, the insider now directly owns 139,982 shares of the company’s stock, valued at approximately $1,571,997.86. This trade represents a 20.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kyle Sauers sold 25,934 shares of Rush Street Interactive stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $12.30, for a total value of $318,988.20. Following the completion of the transaction, the chief financial officer now directly owns 338,614 shares in the company, valued at $4,164,952.20. This trade represents a 7.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 884,287 shares of company stock valued at $11,632,978 over the last quarter. 56.89% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rush Street Interactive

Several institutional investors and hedge funds have recently bought and sold shares of RSI. New York State Teachers Retirement System raised its holdings in 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 worth $75,000 after purchasing an additional 1,020 shares in the last quarter. Quarry LP raised its holdings in Rush Street Interactive by 15.9% in the second quarter. Quarry LP now owns 8,762 shares of the company’s stock worth $84,000 after buying an additional 1,200 shares during the last quarter. Mesirow Financial Investment Management Inc. raised its holdings in Rush Street Interactive by 7.3% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 25,727 shares of the company’s stock worth $279,000 after acquiring an additional 1,745 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Rush Street Interactive in the 3rd quarter worth about $44,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in Rush Street Interactive by 25.6% in the second quarter. The Manufacturers Life Insurance Company now owns 28,645 shares of the company’s stock worth $275,000 after purchasing an additional 5,840 shares during the last quarter. Hedge funds and other institutional investors own 24.78% of the company’s stock.

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.