Rush Street Interactive (NYSE:RSI) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Rush Street Interactive (NYSE:RSI) in a research note issued to investors on Thursday morning,Benzinga reports. Needham & Company LLC currently has a $17.00 target price on the stock.

Other equities research analysts have also issued reports about the stock. Craig Hallum boosted their target price on shares of Rush Street Interactive from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Susquehanna increased their price objective on Rush Street Interactive from $12.00 to $14.00 and gave the company a “neutral” rating in a report on Tuesday. JMP Securities reaffirmed a “market perform” rating on shares of Rush Street Interactive in a report on Monday, January 6th. Finally, Jefferies Financial Group upped their price target on Rush Street Interactive from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $15.71.

Rush Street Interactive Trading Down 15.2 %

NYSE:RSI opened at $11.27 on Thursday. The stock’s 50-day moving average is $14.39 and its 200-day moving average is $12.25. Rush Street Interactive has a 1-year low of $5.22 and a 1-year high of $16.78. The stock has a market cap of $2.54 billion, a P/E ratio of -563.70 and a beta of 1.88.

Insider Transactions at Rush Street Interactive

In other news, CEO Richard Todd Schwartz sold 4,419 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $13.75, for a total transaction of $60,761.25. Following the completion of the sale, the chief executive officer now owns 2,392,587 shares of the company’s stock, valued at $32,898,071.25. This trade represents a 0.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Einar Roosileht sold 48,968 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $14.04, for a total transaction of $687,510.72. Following the transaction, the insider now owns 830,292 shares in the company, valued at $11,657,299.68. The trade was a 5.57 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 825,853 shares of company stock valued at $11,655,336. Corporate insiders own 56.89% of the company’s stock.

Institutional Investors Weigh In On Rush Street Interactive

A number of large investors have recently bought and sold shares of the stock. R Squared Ltd bought a new position in shares of Rush Street Interactive during the 4th quarter worth about $28,000. Heck Capital Advisors LLC bought a new stake in Rush Street Interactive in the 4th quarter valued at about $34,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Rush Street Interactive during the 3rd quarter worth approximately $44,000. WealthTrak Capital Management LLC bought a new position in Rush Street Interactive in the fourth quarter worth approximately $71,000. Finally, Point72 DIFC Ltd acquired a new stake in Rush Street Interactive in the third quarter valued at approximately $70,000. 24.78% of the stock is currently owned by institutional investors and hedge funds.

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.