Analysts Set Rush Street Interactive, Inc. (NYSE:RSI) Price Target at $14.00

Shares of Rush Street Interactive, Inc. (NYSE:RSI) have received an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $14.00.

A number of research firms have recently weighed in on RSI. Craig Hallum increased their target price on shares of Rush Street Interactive from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. JMP Securities reiterated a “market perform” rating on shares of Rush Street Interactive in a research report on Monday, January 6th. Needham & Company LLC upped their target price on Rush Street Interactive from $15.00 to $17.00 and gave the company a “buy” rating in a report on Friday, January 17th. Finally, Jefferies Financial Group lifted their price target on shares of Rush Street Interactive from $16.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday, January 15th.

Insider Buying and Selling

In other news, CEO Richard Todd Schwartz sold 103,905 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $11.02, for a total value 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. The trade was a 5.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Einar Roosileht sold 48,968 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $14.04, for a total value of $687,510.72. Following the completion of the sale, the insider now owns 830,292 shares in the company, valued at $11,657,299.68. The trade was a 5.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 884,287 shares of company stock valued at $11,632,978 over the last ninety days. Company insiders own 56.89% of the company’s stock.

Institutional Investors Weigh In On Rush Street Interactive

Several hedge funds have recently added to or reduced their stakes in the stock. R Squared Ltd bought a new stake in shares of Rush Street Interactive during the fourth quarter valued at approximately $28,000. Heck Capital Advisors LLC purchased a new stake in Rush Street Interactive during the 4th quarter valued at $34,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Rush Street Interactive in the 3rd quarter worth $44,000. Point72 DIFC Ltd purchased a new position in shares of Rush Street Interactive in the third quarter worth $70,000. Finally, New York State Teachers Retirement System raised its stake in shares of Rush Street Interactive by 17.2% in the third quarter. New York State Teachers Retirement System now owns 6,938 shares of the company’s stock worth $75,000 after purchasing an additional 1,020 shares during the last quarter. 24.78% of the stock is owned by institutional investors.

Rush Street Interactive Stock Up 1.6 %

NYSE:RSI opened at $14.28 on Friday. The firm has a market capitalization of $3.22 billion, a P/E ratio of -713.75 and a beta of 1.88. Rush Street Interactive has a 52 week low of $5.11 and a 52 week high of $15.98. The company has a fifty day moving average of $14.03 and a 200 day moving average of $11.56.

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.