Wells Fargo & Company Raises Rush Street Interactive (NYSE:RSI) Price Target to $15.00

Rush Street Interactive (NYSE:RSI) had its price objective hoisted by equities research analysts at Wells Fargo & Company from $14.00 to $15.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 28.64% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. Susquehanna increased their target price on shares of Rush Street Interactive from $12.00 to $14.00 and gave the stock a “neutral” rating in a research report on Tuesday. JMP Securities reissued a “market perform” rating on shares of Rush Street Interactive in a report on Monday, January 6th. Needham & Company LLC restated a “buy” rating and issued a $17.00 target price on shares of Rush Street Interactive in a report on Thursday. Craig Hallum upped their target price 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. Finally, Jefferies Financial Group upped their price objective on shares of Rush Street Interactive from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $15.50.

Rush Street Interactive Stock Up 3.5 %

Shares of RSI opened at $11.66 on Thursday. The firm has a market cap of $2.63 billion, a price-to-earnings ratio of -583.00 and a beta of 1.88. The company’s fifty day moving average is $14.35 and its 200-day moving average is $12.27. Rush Street Interactive has a 12 month low of $5.22 and a 12 month high of $16.78.

Insider Activity at Rush Street Interactive

In other Rush Street Interactive news, insider Paul Wierbicki sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $15.00, for a total value of $112,500.00. Following the completion of the transaction, the insider now owns 139,387 shares of the company’s stock, valued at $2,090,805. This represents a 5.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Richard Todd Schwartz sold 45,256 shares of Rush Street Interactive stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $13.51, for a total value of $611,408.56. Following the sale, the chief executive officer now directly owns 1,762,227 shares in the company, valued at $23,807,686.77. The trade was a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 825,853 shares of company stock worth $11,655,336 in the last ninety days. 56.89% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Rush Street Interactive

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Rush Street Interactive by 14.0% during the 4th quarter. Vanguard Group Inc. now owns 8,596,434 shares of the company’s stock valued at $117,943,000 after acquiring an additional 1,056,583 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Rush Street Interactive by 62.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,663,246 shares of the company’s stock valued at $36,540,000 after purchasing an additional 1,018,889 shares in the last quarter. Driehaus Capital Management LLC boosted its holdings in Rush Street Interactive by 56.6% during the fourth quarter. Driehaus Capital Management LLC now owns 2,200,517 shares of the company’s stock valued at $30,191,000 after purchasing an additional 795,719 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Rush Street Interactive by 7,958.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,029,239 shares of the company’s stock valued at $27,843,000 after purchasing an additional 2,004,059 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in shares of Rush Street Interactive by 43.9% in the 4th quarter. Renaissance Technologies LLC now owns 1,962,400 shares of the company’s stock worth $26,924,000 after buying an additional 598,300 shares in the last quarter. Institutional investors and hedge funds 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.