Rush Street Interactive (NYSE:RSI) Price Target Raised to $15.00

Rush Street Interactive (NYSE:RSI) had its target price boosted by equities research analysts at Needham & Company LLC from $14.00 to $15.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target points to a potential upside of 36.12% from the company’s previous close.

Several other equities research analysts also recently commented on the stock. Craig Hallum upped their price objective on shares of Rush Street Interactive from $11.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Oppenheimer upped their price target 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. Finally, Wells Fargo & Company raised their price objective on shares of Rush Street Interactive from $11.00 to $13.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Rush Street Interactive has a consensus rating of “Moderate Buy” and a consensus target price of $11.33.

Rush Street Interactive Trading Up 2.4 %

NYSE:RSI opened at $11.02 on Thursday. Rush Street Interactive has a 12 month low of $3.46 and a 12 month high of $11.59. The firm’s 50 day moving average is $10.22 and its 200 day moving average is $9.28. The stock has a market capitalization of $2.49 billion, a PE ratio of -127.44 and a beta of 1.79.

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

Insider Transactions at Rush Street Interactive

In related news, insider Einar Roosileht sold 150,000 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $7,356,173.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Einar Roosileht sold 150,000 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $9.09, for a total value of $1,363,500.00. Following the sale, the insider now owns 809,260 shares in the company, valued at approximately $7,356,173.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Richard Todd Schwartz sold 40,498 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $10.18, for a total value of $412,269.64. Following the transaction, the chief executive officer now owns 1,862,997 shares of the company’s stock, valued at approximately $18,965,309.46. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 548,210 shares of company stock valued at $5,179,362. 56.89% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. New York State Teachers Retirement System grew its stake in 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 worth $75,000 after buying an additional 1,020 shares in the last quarter. Precision Wealth Strategies LLC bought a new stake in Rush Street Interactive during the third quarter worth about $349,000. OmniStar Financial Group Inc. lifted its stake in Rush Street Interactive by 581.2% during the third quarter. OmniStar Financial Group Inc. now owns 80,862 shares of the company’s stock worth $877,000 after purchasing an additional 68,992 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of Rush Street Interactive in the 3rd quarter worth about $148,000. Finally, Creative Planning bought a new position in shares of Rush Street Interactive during the 3rd quarter valued at about $180,000. 24.78% of the stock is currently owned by institutional investors.

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.