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

Rush Street Interactive (NYSE:RSI) had its target price upped by Wells Fargo & Company from $8.00 to $9.00 in a report released on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

RSI has been the subject of a number of other reports. Needham & Company LLC raised their price target on Rush Street Interactive from $8.00 to $9.00 and gave the company a buy rating in a report on Thursday. Oppenheimer lifted their price target on Rush Street Interactive from $9.00 to $10.00 and gave the company an outperform rating in a report on Thursday. Craig Hallum raised shares of Rush Street Interactive from a hold rating to a buy rating and increased their price objective for the stock from $7.00 to $8.00 in a report on Friday, April 19th. Susquehanna reaffirmed a neutral rating and issued a $6.00 target price (up from $5.00) on shares of Rush Street Interactive in a research note on Monday, March 4th. Finally, JMP Securities reissued a market perform rating on shares of Rush Street Interactive in a research note on Friday, March 8th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $8.33.

Rush Street Interactive Stock Performance

Shares of NYSE:RSI traded up $0.31 on Thursday, hitting $7.86. The stock had a trading volume of 4,314,466 shares, compared to its average volume of 1,325,317. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of -46.24 and a beta of 1.67. The firm’s 50 day moving average price is $6.28 and its 200-day moving average price is $5.13. Rush Street Interactive has a twelve month low of $2.85 and a twelve month high of $8.38.

Rush Street Interactive (NYSE:RSI) last released its quarterly earnings results on Wednesday, March 6th. The company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. The firm 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 predict that Rush Street Interactive will post -0.22 EPS for the current year.

Insider Buying and Selling at Rush Street Interactive

In related news, CEO Richard Todd Schwartz sold 101,951 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $6.78, for a total transaction of $691,227.78. Following the completion of the sale, the chief executive officer now directly owns 2,154,618 shares of the company’s stock, valued at $14,608,310.04. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, COO Mattias Stetz sold 5,001 shares of Rush Street Interactive stock in a transaction on Friday, April 19th. The shares were sold at an average price of $6.11, for a total transaction of $30,556.11. Following the transaction, the chief operating officer now directly owns 606,730 shares of the company’s stock, valued at $3,707,120.30. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Richard Todd Schwartz sold 101,951 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $6.78, for a total value of $691,227.78. Following the completion of the transaction, the chief executive officer now directly owns 2,154,618 shares of the company’s stock, valued at $14,608,310.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 331,552 shares of company stock worth $2,094,498. Company insiders own 56.96% of the company’s stock.

Hedge Funds Weigh In On Rush Street Interactive

Several institutional investors have recently modified their holdings of the business. HG Vora Capital Management LLC boosted its holdings in shares of 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 buying an additional 1,000,000 shares during the period. Nomura Holdings Inc. raised its stake in shares of Rush Street Interactive by 24.7% in 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 period. FMR LLC lifted its holdings in shares of 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 purchasing an additional 1,846,353 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Rush Street Interactive by 32.6% during the third 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 period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Rush Street Interactive by 10.1% during the third 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 in the last quarter. Institutional investors own 24.78% of the company’s stock.

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.