Rush Street Interactive (NYSE:RSI) Price Target Raised to $17.00

Rush Street Interactive (NYSE:RSI) had its price target hoisted by Benchmark from $14.00 to $17.00 in a research report sent to investors on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other analysts also recently commented on the company. JPMorgan Chase & Co. assumed coverage on Rush Street Interactive in a report on Monday, June 23rd. They set a “neutral” rating and a $14.00 price objective for the company. Needham & Company LLC restated a “buy” rating and issued a $17.00 price objective on shares of Rush Street Interactive in a report on Thursday, May 1st. Wall Street Zen upgraded shares of Rush Street Interactive from a “buy” rating to a “strong-buy” rating in a report on Monday, June 9th. Macquarie reiterated an “outperform” rating and set a $16.00 price objective on shares of Rush Street Interactive in a research note on Friday, May 2nd. Finally, 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. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $15.89.

Rush Street Interactive Price Performance

NYSE:RSI opened at $14.45 on Tuesday. The firm has a market cap of $3.31 billion, a PE ratio of 180.65 and a beta of 1.87. The firm has a 50 day simple moving average of $12.94 and a 200-day simple moving average of $12.91. Rush Street Interactive has a 1-year low of $8.52 and a 1-year high of $16.78.

Rush Street Interactive (NYSE:RSI) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. Rush Street Interactive had a return on equity of 7.35% and a net margin of 0.87%. The business had revenue of $262.41 million during the quarter, compared to the consensus estimate of $258.90 million. During the same quarter in the previous year, the business earned $0.03 earnings per share. The business’s revenue for the quarter was up 20.7% on a year-over-year basis. As a group, sell-side analysts expect that Rush Street Interactive will post 0.04 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Einar Roosileht sold 70,000 shares of Rush Street Interactive stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $12.47, for a total transaction of $872,900.00. Following the sale, the insider owned 876,150 shares of the company’s stock, valued at $10,925,590.50. The trade was a 7.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Richard Todd Schwartz sold 193,905 shares of the firm’s stock in a transaction dated Tuesday, April 8th. The shares were sold at an average price of $10.63, for a total value of $2,061,210.15. Following the sale, the chief executive officer owned 1,599,186 shares of the company’s stock, valued at $16,999,347.18. This represents a 10.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,711,949 shares of company stock worth $22,540,667. 56.94% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rush Street Interactive

Hedge funds and other institutional investors have recently bought and sold shares of the business. Pacer Advisors Inc. boosted its stake in shares of Rush Street Interactive by 94.7% during the 1st 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 during the last quarter. Summit Securities Group LLC acquired a new stake in Rush Street Interactive in the first quarter valued at $33,000. Heck Capital Advisors LLC bought a new position in Rush Street Interactive during the 4th quarter valued at $34,000. GAMMA Investing LLC grew its holdings in Rush Street Interactive by 1,687.6% during the 1st quarter. GAMMA Investing LLC now owns 6,507 shares of the company’s stock worth $70,000 after acquiring an additional 6,143 shares in the last quarter. Finally, WealthTrak Capital Management LLC acquired a new position in Rush Street Interactive during the 4th quarter worth $71,000. 24.78% of the stock is currently owned by hedge funds and other institutional investors.

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.