Analysts Set Rush Street Interactive, Inc. (NYSE:RSI) Price Target at $15.63

Shares of Rush Street Interactive, Inc. (NYSE:RSI) have received a consensus recommendation of “Moderate Buy” from the nine analysts that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $15.63.

A number of brokerages have issued reports on RSI. Needham & Company LLC reiterated a “buy” rating and set a $17.00 price target on shares of Rush Street Interactive in a research report on Thursday, May 1st. Benchmark upped their price objective on shares of Rush Street Interactive from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Susquehanna raised their target price on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company a “positive” rating in a research note on Thursday, May 1st. Wells Fargo & Company upped their price target on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Finally, Jefferies Financial Group raised their price objective on shares of Rush Street Interactive from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th.

Insiders Place Their Bets

In other news, CEO Richard Todd Schwartz sold 133,905 shares of Rush Street Interactive stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $14.22, for a total value of $1,904,129.10. Following the transaction, the chief executive officer now directly owns 2,251,943 shares of the company’s stock, valued at $32,022,629.46. This trade represents a 5.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Mattias Stetz sold 24,467 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $11.57, for a total transaction of $283,083.19. Following the completion of the sale, the chief operating officer now owns 396,584 shares of the company’s stock, valued at approximately $4,588,476.88. This trade represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 750,225 shares of company stock worth $8,587,086. 56.89% of the stock is owned by insiders.

Institutional Trading of Rush Street Interactive

Several large investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. grew its holdings in shares of Rush Street Interactive by 94.7% during the first quarter. Pacer Advisors Inc. now owns 2,533 shares of the company’s stock valued at $27,000 after buying an additional 1,232 shares in the last quarter. R Squared Ltd purchased a new position in Rush Street Interactive during the 4th quarter valued at about $28,000. Heck Capital Advisors LLC purchased a new position in Rush Street Interactive during the 4th quarter valued at about $34,000. GAMMA Investing LLC increased its holdings in shares of Rush Street Interactive by 1,687.6% in the 1st quarter. GAMMA Investing LLC now owns 6,507 shares of the company’s stock valued at $70,000 after purchasing an additional 6,143 shares during the period. Finally, WealthTrak Capital Management LLC purchased a new stake in shares of Rush Street Interactive in the fourth quarter worth approximately $71,000. 24.78% of the stock is owned by institutional investors and hedge funds.

Rush Street Interactive Stock Performance

Rush Street Interactive stock opened at $11.78 on Tuesday. Rush Street Interactive has a one year low of $8.27 and a one year high of $16.78. The company has a 50-day simple moving average of $11.23 and a 200-day simple moving average of $12.67. The firm has a market capitalization of $2.69 billion, a P/E ratio of -588.85 and a beta of 1.88.

Rush Street Interactive (NYSE:RSI) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.08 by $0.01. The company had revenue of $262.41 million for the quarter, compared to analyst estimates of $258.90 million. Rush Street Interactive had a negative net margin of 0.16% and a negative return on equity of 3.73%. Rush Street Interactive’s revenue was up 20.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.03 earnings per share. As a group, sell-side analysts forecast that Rush Street Interactive will post 0.04 earnings per share for the current year.

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.