Rush Street Interactive (NYSE:RSI) Price Target Increased to $10.00 by Analysts at Oppenheimer

Rush Street Interactive (NYSE:RSI) had its price objective increased by stock analysts at Oppenheimer from $9.00 to $10.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s target price suggests a potential upside of 56.01% from the stock’s current price.

Several other research firms also recently commented on RSI. Needham & Company LLC boosted their price target on shares of Rush Street Interactive from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Thursday. Craig Hallum upgraded shares of Rush Street Interactive from a “hold” rating to a “buy” rating and boosted their target price for the stock from $7.00 to $8.00 in a research note on Friday, April 19th. JMP Securities reiterated a “market perform” rating on shares of Rush Street Interactive in a research note on Friday, March 8th. Susquehanna reiterated a “neutral” rating and set 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, Wells Fargo & Company upped their price objective on shares of Rush Street Interactive from $7.00 to $8.00 and gave the company an “overweight” rating in a research note on Thursday, March 7th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $7.83.

Rush Street Interactive Stock Performance

RSI stock opened at $6.41 on Thursday. The firm has a market cap of $1.43 billion, a PE ratio of -23.74 and a beta of 1.67. The firm’s 50 day moving average price is $6.17 and its 200-day moving average price is $5.07. Rush Street Interactive has a one year low of $2.85 and a one year high of $7.31.

Rush Street Interactive (NYSE:RSI) last announced its earnings results on Wednesday, March 6th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. The company had revenue of $193.85 million for the quarter, compared to analyst estimates of $181.50 million. Rush Street Interactive had a negative return on equity of 28.95% and a negative net margin of 2.65%. Equities research analysts predict that Rush Street Interactive will post -0.22 EPS for the current fiscal year.

Insider Activity

In other news, COO Mattias Stetz sold 13,657 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $5.83, for a total value of $79,620.31. Following the completion of the sale, the chief operating officer now directly owns 692,045 shares of the company’s stock, valued at $4,034,622.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, COO Mattias Stetz sold 13,657 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $5.83, for a total value of $79,620.31. Following the completion of the sale, the chief operating officer now directly owns 692,045 shares of the company’s stock, valued at $4,034,622.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Kyle Sauers sold 15,983 shares of the stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $6.11, for a total transaction of $97,656.13. Following the transaction, the chief financial officer now directly owns 550,174 shares of the company’s stock, valued at $3,361,563.14. The disclosure for this sale can be found here. Over the last three months, insiders sold 331,552 shares of company stock valued at $2,094,498. Insiders own 56.96% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. HG Vora Capital Management LLC raised its holdings in Rush Street Interactive by 16.7% during the fourth quarter. HG Vora Capital Management LLC now owns 7,000,000 shares of the company’s stock worth $31,430,000 after purchasing an additional 1,000,000 shares in the last quarter. Nomura Holdings Inc. increased its holdings in Rush Street Interactive by 24.7% in the fourth quarter. Nomura Holdings Inc. now owns 4,184,373 shares of the company’s stock valued at $18,788,000 after buying an additional 828,984 shares in the last quarter. FMR LLC increased its holdings in Rush Street Interactive by 4,395.9% in the third quarter. FMR LLC now owns 1,888,355 shares of the company’s stock valued at $8,724,000 after buying an additional 1,846,353 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in 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 valued at $8,483,000 after buying an additional 451,171 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Rush Street Interactive by 10.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 538,758 shares of the company’s stock valued at $2,489,000 after buying an additional 49,500 shares in 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.