Rush Street Interactive (NYSE:RSI) Price Target Raised to $17.00

Rush Street Interactive (NYSE:RSI) had its target price increased by Jefferies Financial Group from $16.00 to $17.00 in a report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also commented on RSI. JMP Securities reiterated a “market perform” rating on shares of Rush Street Interactive in a report on Monday, January 6th. Craig Hallum raised their price objective on shares of Rush Street Interactive from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Needham & Company LLC raised their price target on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Rush Street Interactive currently has an average rating of “Moderate Buy” and an average price target of $14.00.

Rush Street Interactive Price Performance

RSI stock opened at $15.02 on Wednesday. Rush Street Interactive has a 1 year low of $4.45 and a 1 year high of $15.68. The firm has a market capitalization of $3.39 billion, a PE ratio of -751.20 and a beta of 1.88. The business has a 50 day simple moving average of $13.61 and a 200-day simple moving average of $11.25.

Insider Activity at Rush Street Interactive

In related news, CEO Richard Todd Schwartz sold 103,905 shares of Rush Street Interactive stock in a transaction on Friday, November 15th. The shares were sold at an average price of $11.02, for a total value of $1,145,033.10. Following the transaction, the chief executive officer now directly owns 1,703,578 shares in the company, valued at $18,773,429.56. This trade represents a 5.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Mattias Stetz sold 20,000 shares of Rush Street Interactive stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $11.02, for a total value of $220,400.00. Following the completion of the sale, the chief operating officer now owns 580,484 shares in the company, valued at approximately $6,396,933.68. This trade represents a 3.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 884,287 shares of company stock worth $11,632,978 in the last 90 days. 56.89% of the stock is owned by insiders.

Institutional Trading of Rush Street Interactive

Several large investors have recently bought and sold shares of the company. SG Americas Securities LLC boosted its position in shares of Rush Street Interactive by 29.9% in the 4th quarter. SG Americas Securities LLC now owns 56,842 shares of the company’s stock worth $780,000 after buying an additional 13,095 shares in the last quarter. Harbour Capital Advisors LLC purchased a new stake in Rush Street Interactive in the 4th quarter valued at about $822,000. JPMorgan Chase & Co. lifted its holdings in shares of Rush Street Interactive by 155.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 265,412 shares of the company’s stock worth $2,880,000 after acquiring an additional 161,568 shares during the period. Principal Financial Group Inc. grew its holdings in Rush Street Interactive by 656.2% in the third quarter. Principal Financial Group Inc. now owns 77,658 shares of the company’s stock valued at $843,000 after purchasing an additional 67,388 shares during the period. Finally, Franklin Resources Inc. purchased a new position in Rush Street Interactive during the third quarter worth approximately $901,000. Institutional investors and hedge funds 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.