Analysts Set Rush Street Interactive, Inc. (NYSE:RSI) Price Target at $15.50

Shares of Rush Street Interactive, Inc. (NYSE:RSI) have earned an average recommendation of “Buy” from the nine brokerages that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $15.50.

A number of equities research analysts have commented on the company. Benchmark lifted their target price on Rush Street Interactive from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Susquehanna raised Rush Street Interactive from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 28th. Macquarie reaffirmed an “outperform” rating and issued a $16.00 price objective on shares of Rush Street Interactive in a research note on Thursday, February 27th. JMP Securities reaffirmed a “market perform” rating on shares of Rush Street Interactive in a research note on Monday, January 6th. Finally, Wells Fargo & Company lifted their price objective on Rush Street Interactive from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th.

Insider Buying and Selling

In other news, CEO Richard Todd Schwartz sold 109,567 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $9.85, for a total transaction of $1,079,234.95. Following the completion of the transaction, the chief executive officer now directly owns 2,082,376 shares of the company’s stock, valued at approximately $20,511,403.60. This represents a 5.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul Wierbicki sold 7,500 shares of the company’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $15.00, for a total value of $112,500.00. Following the transaction, the insider now directly owns 139,387 shares of the company’s stock, valued at approximately $2,090,805. This represents a 5.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 988,545 shares of company stock valued at $13,174,489 in the last three months. 56.89% of the stock is owned by corporate insiders.

Institutional Trading of Rush Street Interactive

Several institutional investors and hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System lifted its holdings in shares of Rush Street Interactive by 8.1% in the 4th quarter. California State Teachers Retirement System now owns 73,625 shares of the company’s stock valued at $1,010,000 after purchasing an additional 5,510 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Rush Street Interactive in the 4th quarter valued at about $200,000. Heck Capital Advisors LLC purchased a new stake in shares of Rush Street Interactive in the 4th quarter valued at about $34,000. Mackenzie Financial Corp purchased a new stake in shares of Rush Street Interactive in the 4th quarter valued at about $1,123,000. Finally, PharVision Advisers LLC purchased a new stake in shares of Rush Street Interactive in the 4th quarter valued at about $400,000. 24.78% of the stock is owned by hedge funds and other institutional investors.

Rush Street Interactive Stock Performance

Shares of Rush Street Interactive stock opened at $10.95 on Monday. Rush Street Interactive has a one year low of $5.71 and a one year high of $16.78. The company has a market cap of $2.50 billion, a price-to-earnings ratio of -547.25 and a beta of 1.92. The business’s 50 day moving average price is $13.38 and its 200 day moving average price is $12.47.

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.