Rush Street Interactive (NYSE:RSI) Stock Price Expected to Rise, Benchmark Analyst Says

Rush Street Interactive (NYSE:RSI) had its price target upped by research analysts at Benchmark from $12.00 to $14.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Benchmark’s price target indicates a potential upside of 20.07% from the stock’s current price.

A number of other research analysts have also issued reports on the company. Susquehanna increased their target price on Rush Street Interactive from $12.00 to $14.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. Wells Fargo & Company increased their target price on Rush Street Interactive from $14.00 to $15.00 and gave the company an “overweight” rating in a research report on Thursday. Macquarie reiterated an “outperform” rating and set a $16.00 target price on shares of Rush Street Interactive in a research report on Thursday. Jefferies Financial Group increased their target price on Rush Street Interactive from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Finally, Craig Hallum increased their target price on Rush Street Interactive from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $15.50.

Rush Street Interactive Trading Up 3.5 %

Rush Street Interactive stock opened at $11.66 on Friday. Rush Street Interactive has a 12 month low of $5.22 and a 12 month high of $16.78. The firm has a market cap of $2.63 billion, a PE ratio of -583.00 and a beta of 1.88. The stock’s 50 day simple moving average is $14.35 and its two-hundred day simple moving average is $12.29.

Insider Activity at Rush Street Interactive

In related news, 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 value of $687,510.72. Following the completion of the transaction, the insider now directly owns 830,292 shares of the company’s stock, valued at approximately $11,657,299.68. This represents a 5.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard Todd Schwartz sold 45,256 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $13.51, for a total value of $611,408.56. Following the completion of the transaction, the chief executive officer now directly owns 1,762,227 shares of the company’s stock, valued at approximately $23,807,686.77. This represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 825,853 shares of company stock valued at $11,655,336. 56.89% of the stock is owned by insiders.

Institutional Trading of Rush Street Interactive

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Rush Street Interactive by 14.0% in the 4th quarter. Vanguard Group Inc. now owns 8,596,434 shares of the company’s stock worth $117,943,000 after acquiring an additional 1,056,583 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Rush Street Interactive by 62.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,663,246 shares of the company’s stock worth $36,540,000 after acquiring an additional 1,018,889 shares during the last quarter. Driehaus Capital Management LLC increased its stake in shares of Rush Street Interactive by 56.6% in the 4th quarter. Driehaus Capital Management LLC now owns 2,200,517 shares of the company’s stock worth $30,191,000 after acquiring an additional 795,719 shares during the last quarter. Price T Rowe Associates Inc. MD increased 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 worth $27,843,000 after acquiring an additional 2,004,059 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake 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 acquiring an additional 598,300 shares during the last quarter. 24.78% of the stock is owned by institutional investors and hedge funds.

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.