Rush Street Interactive (NYSE:RSI) Price Target Raised to $17.00 at Jefferies Financial Group

Rush Street Interactive (NYSE:RSI) had its price target boosted by equities research analysts at Jefferies Financial Group from $16.00 to $17.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Jefferies Financial Group’s target price would indicate a potential upside of 13.56% from the stock’s current price.

Several other research analysts have also weighed in on the company. Craig Hallum boosted their price target on Rush Street Interactive from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Needham & Company LLC increased their price target on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Rush Street Interactive in a report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Rush Street Interactive currently has an average rating of “Moderate Buy” and a consensus target price of $13.67.

Rush Street Interactive Price Performance

NYSE:RSI traded up $0.17 during trading hours on Wednesday, reaching $14.97. 1,262,808 shares of the stock were exchanged, compared to its average volume of 1,800,691. The firm has a 50 day moving average of $13.36 and a 200 day moving average of $11.16. The stock has a market cap of $3.38 billion, a PE ratio of -748.50 and a beta of 1.88. Rush Street Interactive has a twelve month low of $3.56 and a twelve month high of $15.68.

Insiders Place Their Bets

In related news, insider Einar Roosileht sold 48,968 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $14.04, for a total value of $687,510.72. Following the completion of the sale, the insider now directly owns 830,292 shares of the company’s stock, valued at $11,657,299.68. The trade was a 5.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Paul Wierbicki sold 35,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now owns 139,982 shares in the company, valued at approximately $1,571,997.86. The trade was a 20.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 870,868 shares of company stock worth $11,437,217. 56.89% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rush Street Interactive

Several hedge funds and other institutional investors have recently modified their holdings of the company. Harbour Capital Advisors LLC acquired a new stake in Rush Street Interactive in the 4th quarter valued at $822,000. JPMorgan Chase & Co. increased its position in shares of Rush Street Interactive by 155.6% during the third quarter. JPMorgan Chase & Co. now owns 265,412 shares of the company’s stock worth $2,880,000 after acquiring an additional 161,568 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Rush Street Interactive by 656.2% in the 3rd quarter. Principal Financial Group Inc. now owns 77,658 shares of the company’s stock worth $843,000 after acquiring an additional 67,388 shares during the last quarter. Franklin Resources Inc. bought a new position in Rush Street Interactive in the 3rd quarter valued at about $901,000. Finally, Geode Capital Management LLC increased its holdings in Rush Street Interactive by 5.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,736,259 shares of the company’s stock worth $18,843,000 after purchasing an additional 92,314 shares in the last quarter. Institutional investors own 24.78% of the company’s stock.

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.