Rush Street Interactive, Inc. (NYSE:RSI) Receives $12.43 Consensus Price Target from Analysts

Rush Street Interactive, Inc. (NYSE:RSI) has earned an average rating of “Moderate Buy” from the seven analysts that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $12.43.

Several analysts have weighed in on RSI shares. Needham & Company LLC boosted their target price on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Jefferies Financial Group boosted their price objective on shares of Rush Street Interactive from $15.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Craig Hallum raised their target price on Rush Street Interactive from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st.

Rush Street Interactive Stock Up 3.7 %

RSI opened at $14.25 on Wednesday. The company has a market cap of $3.22 billion, a P/E ratio of -712.50 and a beta of 1.88. The firm’s 50-day moving average price is $12.84 and its 200-day moving average price is $10.90. Rush Street Interactive has a 52-week low of $3.56 and a 52-week high of $14.92.

Insider Activity at Rush Street Interactive

In related news, COO Mattias Stetz sold 25,000 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $14.50, for a total value of $362,500.00. Following the completion of the transaction, the chief operating officer now directly owns 550,484 shares in the company, valued at $7,982,018. The trade was a 4.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Einar Roosileht sold 48,968 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $14.04, for a total transaction of $687,510.72. Following the sale, the insider now directly owns 830,292 shares in the company, valued at $11,657,299.68. This trade represents a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 542,106 shares of company stock worth $6,757,094 over the last three months. Company 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 modified their holdings of the business. Driehaus Capital Management LLC purchased a new position in Rush Street Interactive during the second quarter worth approximately $10,605,000. Marshall Wace LLP raised its stake in shares of Rush Street Interactive by 185.5% during the 2nd quarter. Marshall Wace LLP now owns 981,822 shares of the company’s stock worth $9,416,000 after buying an additional 637,883 shares during the period. Millennium Management LLC lifted 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. Renaissance Technologies LLC grew its stake in Rush Street Interactive by 47.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,504,200 shares of the company’s stock valued at $14,425,000 after acquiring an additional 482,872 shares during the period. Finally, Caprock Group LLC purchased a new stake in Rush Street Interactive in the 3rd quarter worth $4,178,000. 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.