Oppenheimer Increases Rush Street Interactive (NYSE:RSI) Price Target to $21.00

Rush Street Interactive (NYSE:RSI) had its target price lifted by analysts at Oppenheimer from $16.00 to $21.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s target price would indicate a potential upside of 8.53% from the company’s previous close.

A number of other equities research analysts have also issued reports on RSI. Needham & Company LLC increased their target price on shares of Rush Street Interactive from $17.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday. Wall Street Zen upgraded shares of Rush Street Interactive from a “buy” rating to a “strong-buy” rating in a report on Friday, July 18th. JPMorgan Chase & Co. assumed coverage on shares of Rush Street Interactive in a report on Monday, June 23rd. They set a “neutral” rating and a $14.00 target price on the stock. Jefferies Financial Group increased their target price on shares of Rush Street Interactive from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, July 3rd. Finally, Susquehanna restated a “positive” rating and issued a $19.00 price objective (up from $15.00) on shares of Rush Street Interactive in a report on Wednesday. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $17.89.

Rush Street Interactive Stock Down 4.0%

Rush Street Interactive stock opened at $19.35 on Thursday. The firm has a market cap of $4.43 billion, a PE ratio of 96.75 and a beta of 1.89. Rush Street Interactive has a 52-week low of $8.52 and a 52-week high of $20.32. The company’s 50 day moving average is $14.40 and its two-hundred day moving average is $13.14.

Rush Street Interactive (NYSE:RSI) last released its earnings results on Wednesday, July 30th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.03. The company had revenue of $269.22 million for the quarter, compared to analyst estimates of $248.98 million. Rush Street Interactive had a net margin of 2.48% and a return on equity of 17.77%. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.04 EPS. On average, equities research analysts anticipate 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 the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $18.95, for a total value of $1,326,500.00. Following the transaction, the insider directly owned 876,150 shares of the company’s stock, valued at $16,603,042.50. This trade represents 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, Director Masi Niccolo De sold 446,094 shares of the stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $18.35, for a total transaction of $8,185,824.90. Following the completion of the transaction, the director directly owned 15,203 shares in the company, valued at $278,975.05. This trade represents a 96.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,594,670 shares of company stock valued at $39,044,844 over the last quarter. Company insiders own 56.94% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Heck Capital Advisors LLC purchased a new position in shares of Rush Street Interactive in the 4th quarter valued at $34,000. Pacer Advisors Inc. grew its position in shares of Rush Street Interactive by 94.7% in 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. Farther Finance Advisors LLC purchased a new position in shares of Rush Street Interactive in the 2nd quarter valued at $42,000. Summit Securities Group LLC purchased a new position in shares of Rush Street Interactive in the 1st quarter valued at $33,000. Finally, GAMMA Investing LLC grew its position 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 buying an additional 6,143 shares during the last quarter. 24.78% of the stock is owned by hedge funds and other institutional investors.

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.