Brokerages Set Rush Street Interactive, Inc. (NYSE:RSI) Target Price at $11.17

Rush Street Interactive, Inc. (NYSE:RSI) has been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $11.17.

RSI has been the subject of a number of recent analyst reports. Craig Hallum upped their price objective on Rush Street Interactive from $11.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Needham & Company LLC increased their price target on shares of Rush Street Interactive from $10.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Wells Fargo & Company lifted their price objective on shares of Rush Street Interactive from $11.00 to $13.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Finally, Oppenheimer boosted their target price on shares of Rush Street Interactive from $10.00 to $14.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st.

Insider Buying and Selling at Rush Street Interactive

In related news, Director Judith Gold sold 150,000 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $9.50, for a total transaction of $1,425,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Judith Gold sold 150,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $9.50, for a total transaction of $1,425,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kyle Sauers sold 108,682 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $9.50, for a total transaction of $1,032,479.00. Following the completion of the sale, the chief financial officer now owns 441,492 shares in the company, valued at $4,194,174. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 548,210 shares of company stock valued at $5,179,362 over the last three months. 56.89% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Rush Street Interactive

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Rush Street Interactive by 1.6% during the first quarter. Vanguard Group Inc. now owns 5,481,219 shares of the company’s stock worth $35,683,000 after purchasing an additional 85,736 shares in the last quarter. SG Americas Securities LLC purchased a new position in Rush Street Interactive in the 2nd quarter worth approximately $1,565,000. Acadian Asset Management LLC purchased a new position in Rush Street Interactive in the 2nd quarter worth approximately $587,000. Driehaus Capital Management LLC bought a new position in shares of Rush Street Interactive in the 2nd quarter worth $10,605,000. Finally, Millennium Management LLC raised its position in shares of Rush Street Interactive by 378.4% during the 2nd quarter. Millennium Management LLC now owns 620,552 shares of the company’s stock valued at $5,951,000 after buying an additional 490,831 shares in the last quarter. 24.78% of the stock is currently owned by institutional investors.

Rush Street Interactive Price Performance

NYSE RSI opened at $10.93 on Friday. The company has a fifty day moving average price of $10.04 and a 200-day moving average price of $9.12. The firm has a market cap of $2.46 billion, a price-to-earnings ratio of -64.29 and a beta of 1.79. Rush Street Interactive has a 1 year low of $3.17 and a 1 year high of $11.59.

Rush Street Interactive (NYSE:RSI) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.06. Rush Street Interactive had a negative net margin of 0.84% and a negative return on equity of 12.45%. The business had revenue of $220.38 million during the quarter, compared to the consensus estimate of $201.37 million. During the same period in the prior year, the firm posted ($0.08) EPS. The firm’s quarterly revenue was up 33.5% compared to the same quarter last year. On average, research analysts anticipate that Rush Street Interactive will post -0.01 EPS for the current fiscal year.

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.