Rush Street Interactive (NYSE:RSI) PT Raised to $10.00

Rush Street Interactive (NYSE:RSI) had its target price lifted by Oppenheimer from $9.00 to $10.00 in a report released on Thursday morning, Benzinga reports. They currently have an outperform rating on the stock.

A number of other analysts have also weighed in on RSI. Susquehanna reissued a neutral rating and issued a $6.00 price target (up previously from $5.00) on shares of Rush Street Interactive in a report on Monday, March 4th. JMP Securities restated a market perform rating on shares of Rush Street Interactive in a research report on Friday, March 8th. Craig Hallum upgraded Rush Street Interactive from a hold rating to a buy rating and raised their price target for the company from $7.00 to $8.00 in a report on Friday, April 19th. Wells Fargo & Company boosted their price objective on Rush Street Interactive from $7.00 to $8.00 and gave the stock an overweight rating in a report on Thursday, March 7th. Finally, Needham & Company LLC lifted 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 report on Thursday. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $8.33.

Rush Street Interactive Price Performance

Shares of RSI stock traded up $0.31 during trading hours on Thursday, hitting $7.86. 4,314,466 shares of the company’s stock were exchanged, compared to its average volume of 1,325,317. Rush Street Interactive has a 52 week low of $2.85 and a 52 week high of $8.38. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of -46.24 and a beta of 1.67. The stock’s 50-day moving average is $6.28 and its 200-day moving average is $5.13.

Rush Street Interactive (NYSE:RSI) last issued its quarterly earnings results on Wednesday, March 6th. The company reported ($0.08) earnings per share (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 the consensus estimate of $181.50 million. Rush Street Interactive had a negative net margin of 1.58% and a negative return on equity of 15.85%. Equities research analysts forecast that Rush Street Interactive will post -0.22 earnings per share for the current fiscal year.

Insider Buying and Selling at Rush Street Interactive

In other news, CEO Richard Todd Schwartz sold 101,951 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $6.78, for a total transaction of $691,227.78. Following the completion of the transaction, the chief executive officer now directly owns 2,154,618 shares in the company, valued at approximately $14,608,310.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related 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 completion of the sale, the chief financial officer now owns 536,936 shares in the company, valued at approximately $3,130,336.88. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Richard Todd Schwartz sold 101,951 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $6.78, for a total value of $691,227.78. Following the sale, the chief executive officer now directly owns 2,154,618 shares in the company, valued at approximately $14,608,310.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 331,552 shares of company stock valued at $2,094,498. 56.96% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new stake in shares of Rush Street Interactive during the third quarter worth about $52,000. Allspring Global Investments Holdings LLC increased its stake in Rush Street Interactive by 13,627.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,943 shares of the company’s stock worth $78,000 after purchasing an additional 11,856 shares in the last quarter. Aigen Investment Management LP acquired a new stake in Rush Street Interactive during the 4th quarter worth approximately $90,000. North Star Investment Management Corp. lifted its stake in Rush Street Interactive by 303.9% in the first quarter. North Star Investment Management Corp. now owns 20,600 shares of the company’s stock valued at $134,000 after buying an additional 15,500 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Rush Street Interactive by 665.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 21,923 shares of the company’s stock valued at $98,000 after buying an additional 19,058 shares during the period. 24.78% of the stock is owned by institutional investors and hedge funds.

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.