Rush Street Interactive (NYSE:RSI) Price Target Increased to $9.00 by Analysts at Needham & Company LLC

Rush Street Interactive (NYSE:RSI) had its target price increased by Needham & Company LLC from $8.00 to $9.00 in a research report released on Thursday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities analysts have also weighed in on RSI. Susquehanna reissued a neutral rating and set a $6.00 price objective (up from $5.00) on shares of Rush Street Interactive in a report on Monday, March 4th. Oppenheimer increased their price target on Rush Street Interactive from $7.00 to $9.00 and gave the stock an outperform rating in a research note on Thursday, March 7th. JMP Securities restated a market perform rating on shares of Rush Street Interactive in a research note on Friday, March 8th. Craig Hallum upgraded shares of Rush Street Interactive from a hold rating to a buy rating and increased their target price for the stock from $7.00 to $8.00 in a research report on Friday, April 19th. Finally, Wells Fargo & Company boosted their price target on shares of Rush Street Interactive from $7.00 to $8.00 and gave the company an overweight rating in a research report on Thursday, March 7th. Two investment analysts have rated the stock with a hold rating and four have issued 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

Shares of NYSE RSI traded up $0.31 during mid-day trading on Thursday, reaching $7.86. 4,314,466 shares of the company’s stock were exchanged, compared to its average volume of 1,325,317. The firm has a 50-day moving average price of $6.28 and a two-hundred day moving average price of $5.13. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of -46.24 and a beta of 1.67. Rush Street Interactive has a 52 week low of $2.85 and a 52 week high of $8.38.

Rush Street Interactive (NYSE:RSI) last announced its quarterly earnings data on Wednesday, March 6th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.01. The business had revenue of $193.85 million for the quarter, compared to analyst estimates of $181.50 million. Rush Street Interactive had a negative net margin of 1.58% and a negative return on equity of 15.85%. As a group, sell-side analysts forecast that Rush Street Interactive will post -0.22 EPS for the current fiscal year.

Insider Transactions at Rush Street Interactive

In other news, CFO Kyle Sauers sold 21,362 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $5.83, for a total value of $124,540.46. Following the transaction, the chief financial officer now owns 536,936 shares of the company’s stock, valued at $3,130,336.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Kyle Sauers sold 21,362 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 $124,540.46. Following the completion of the transaction, the chief financial officer now owns 536,936 shares of the company’s stock, valued at $3,130,336.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard Todd Schwartz sold 38,687 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $5.83, for a total transaction of $225,545.21. Following the completion of the sale, the chief executive officer now directly owns 2,256,569 shares in the company, valued at $13,155,797.27. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 331,552 shares of company stock valued at $2,094,498. 56.96% of the stock is currently owned by corporate insiders.

Institutional Trading of Rush Street Interactive

A number of hedge funds have recently made changes to their positions in RSI. HG Vora Capital Management LLC increased its stake in Rush Street Interactive by 16.7% in the fourth quarter. HG Vora Capital Management LLC now owns 7,000,000 shares of the company’s stock valued at $31,430,000 after acquiring an additional 1,000,000 shares during the last quarter. Nomura Holdings Inc. increased its position in shares of Rush Street Interactive by 24.7% during the 4th quarter. Nomura Holdings Inc. now owns 4,184,373 shares of the company’s stock valued at $18,788,000 after purchasing an additional 828,984 shares during the last quarter. FMR LLC raised its holdings in shares of Rush Street Interactive by 4,395.9% during the 3rd 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. lifted its position in Rush Street Interactive by 32.6% in the 3rd 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 last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in Rush Street Interactive by 10.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 538,758 shares of the company’s stock worth $2,489,000 after buying an additional 49,500 shares during the last quarter. 24.78% of the stock is owned by 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.