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

Shares of Rush Street Interactive, Inc. (NYSE:RSI) have received a consensus rating of “Moderate Buy” from the seven research firms that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $12.43.

A number of analysts have issued reports on RSI shares. Craig Hallum lifted their target price on shares of Rush Street Interactive from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Wells Fargo & Company raised their target price on Rush Street Interactive from $11.00 to $13.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Needham & Company LLC upped their price target on Rush Street Interactive from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Oppenheimer boosted their target price on Rush Street Interactive from $10.00 to $14.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Finally, Jefferies Financial Group boosted their price objective on shares of Rush Street Interactive from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st.

Insider Buying and Selling at Rush Street Interactive

In related news, insider Paul Wierbicki sold 35,000 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $11.23, for a total value of $393,050.00. Following the sale, the insider now owns 139,982 shares of the company’s stock, valued at $1,571,997.86. The trade was a 20.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Einar Roosileht sold 150,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $9.09, for a total transaction of $1,363,500.00. Following the completion of the transaction, the insider now owns 809,260 shares in the company, valued at approximately $7,356,173.40. This trade represents a 15.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 56.89% of the company’s stock.

Hedge Funds Weigh In On Rush Street Interactive

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Rush Street Interactive in the 3rd quarter valued at approximately $44,000. New York State Teachers Retirement System raised its holdings in shares of 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 valued at $75,000 after purchasing an additional 1,020 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Rush Street Interactive by 13,627.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 11,943 shares of the company’s stock worth $78,000 after purchasing an additional 11,856 shares during the period. Quarry LP raised its stake in Rush Street Interactive by 15.9% in the second quarter. Quarry LP now owns 8,762 shares of the company’s stock valued at $84,000 after buying an additional 1,200 shares during the period. Finally, Principal Financial Group Inc. bought a new position in shares of Rush Street Interactive during the 2nd quarter worth approximately $98,000. Institutional investors own 24.78% of the company’s stock.

Rush Street Interactive Stock Performance

Shares of NYSE:RSI opened at $11.41 on Tuesday. The firm has a 50 day simple moving average of $10.64 and a 200 day simple moving average of $9.64. The company has a market cap of $2.58 billion, a PE ratio of -570.50 and a beta of 1.78. Rush Street Interactive has a 52 week low of $3.56 and a 52 week high of $12.46.

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.