Needham & Company LLC Boosts Rush Street Interactive (NYSE:RSI) Price Target to $17.00

Rush Street Interactive (NYSE:RSI) had its price target hoisted by stock analysts at Needham & Company LLC from $15.00 to $17.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s target price would indicate a potential upside of 13.15% from the stock’s current price.

Several other equities analysts also recently issued reports on RSI. JMP Securities reissued a “market perform” rating on shares of Rush Street Interactive in a research report on Monday, January 6th. Craig Hallum upped their target price on Rush Street Interactive from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Jefferies Financial Group upped their target price on Rush Street Interactive from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $14.00.

Rush Street Interactive Price Performance

NYSE RSI opened at $15.02 on Friday. The stock’s fifty day moving average price is $13.61 and its 200 day moving average price is $11.27. Rush Street Interactive has a 1 year low of $4.45 and a 1 year high of $15.68. The company has a market cap of $3.39 billion, a price-to-earnings ratio of -751.20 and a beta of 1.88.

Insider Buying and Selling at Rush Street Interactive

In other news, CEO Richard Todd Schwartz sold 103,905 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $11.02, for a total transaction of $1,145,033.10. Following the sale, the chief executive officer now directly owns 1,703,578 shares of the company’s stock, valued at $18,773,429.56. This represents a 5.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Mattias Stetz sold 20,000 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $11.02, for a total transaction of $220,400.00. Following the sale, the chief operating officer now directly owns 580,484 shares in the company, valued at approximately $6,396,933.68. The trade was a 3.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 884,287 shares of company stock valued at $11,632,978. 56.89% of the stock is owned by insiders.

Institutional Investors Weigh In On Rush Street Interactive

Hedge funds have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Rush Street Interactive during the 3rd quarter worth about $44,000. Point72 DIFC Ltd purchased a new position in Rush Street Interactive in the 3rd quarter valued at about $70,000. New York State Teachers Retirement System lifted its stake in Rush Street Interactive by 17.2% in the 3rd quarter. New York State Teachers Retirement System now owns 6,938 shares of the company’s stock valued at $75,000 after buying an additional 1,020 shares in the last quarter. Quarry LP lifted its stake in Rush Street Interactive by 15.9% in the 2nd quarter. Quarry LP now owns 8,762 shares of the company’s stock valued at $84,000 after buying an additional 1,200 shares in the last quarter. Finally, CWM LLC lifted its stake in Rush Street Interactive by 425.6% in the 3rd quarter. CWM LLC now owns 9,209 shares of the company’s stock valued at $100,000 after buying an additional 7,457 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.