Oppenheimer Raises Rush Street Interactive (NYSE:RSI) Price Target to $10.00

Rush Street Interactive (NYSE:RSI) had its price objective increased by Oppenheimer from $9.00 to $10.00 in a research report released on Thursday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other analysts have also recently weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of Rush Street Interactive from $7.00 to $8.00 and gave the stock an overweight rating in a research note on Thursday, March 7th. JMP Securities reissued a market perform rating on shares of Rush Street Interactive in a research note on Friday, March 8th. Needham & Company LLC boosted their price target on shares of Rush Street Interactive from $8.00 to $9.00 and gave the company a buy rating in a research note on Thursday. Susquehanna reiterated a neutral rating and issued a $6.00 target price (up previously from $5.00) on shares of Rush Street Interactive in a research note on Monday, March 4th. Finally, Craig Hallum upgraded Rush Street Interactive from a hold rating to a buy rating and lifted their target price for the stock from $7.00 to $8.00 in a research note on Friday, April 19th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $8.33.

Rush Street Interactive Price Performance

NYSE RSI opened at $7.86 on Thursday. Rush Street Interactive has a twelve month low of $2.85 and a twelve month high of $8.38. The business’s fifty day moving average is $6.28 and its 200 day moving average is $5.14.

Rush Street Interactive (NYSE:RSI) last announced its quarterly earnings results on Wednesday, March 6th. The company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. Rush Street Interactive had a negative return on equity of 15.68% and a negative net margin of 1.58%. The firm had revenue of $193.85 million for the quarter, compared to analyst estimates of $181.50 million. Equities research analysts forecast that Rush Street Interactive will post -0.22 EPS for the current year.

Insider Buying and Selling at Rush Street Interactive

In other Rush Street Interactive news, CEO Richard Todd Schwartz sold 101,951 shares of Rush Street Interactive stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $6.78, for a total transaction of $691,227.78. Following the completion of the transaction, the chief executive officer now owns 2,154,618 shares of the company’s stock, valued at approximately $14,608,310.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Paul Wierbicki sold 22,743 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $5.83, for a total transaction of $132,591.69. Following the completion of the transaction, the insider now directly owns 174,982 shares in the company, valued at $1,020,145.06. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Richard Todd Schwartz sold 101,951 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $6.78, for a total value of $691,227.78. Following the completion of the sale, the chief executive officer now directly owns 2,154,618 shares in the company, valued at approximately $14,608,310.04. The disclosure for this sale can be found here. Insiders have sold a total of 331,552 shares of company stock valued at $2,094,498 over the last three months. 56.96% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Rush Street Interactive

Hedge funds and other institutional investors have recently bought and sold shares of the stock. PEAK6 Investments LLC raised its stake in shares of Rush Street Interactive by 387.2% during the third quarter. PEAK6 Investments LLC now owns 309,765 shares of the company’s stock worth $1,431,000 after acquiring an additional 246,189 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Rush Street Interactive by 32.6% in the third quarter. Assenagon Asset Management S.A. now owns 1,836,077 shares of the company’s stock worth $8,483,000 after buying an additional 451,171 shares during the period. Exchange Traded Concepts LLC lifted its stake in shares of Rush Street Interactive by 23.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 356,323 shares of the company’s stock valued at $1,600,000 after acquiring an additional 68,255 shares during the last quarter. Spire Wealth Management purchased a new stake in Rush Street Interactive during the 3rd quarter valued at about $492,000. Finally, SG Americas Securities LLC grew its position in Rush Street Interactive by 33.2% during the 4th quarter. SG Americas Securities LLC now owns 15,108 shares of the company’s stock worth $68,000 after acquiring an additional 3,764 shares during the last quarter. Hedge funds and other institutional investors 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.