Analysts Set Rush Street Interactive, Inc. (NYSE:RSI) PT at $15.50

Shares of Rush Street Interactive, Inc. (NYSE:RSI) have received an average rating of “Buy” from the nine brokerages that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $15.50.

Several research analysts have recently issued reports on RSI shares. Jefferies Financial Group upped their target price on shares of Rush Street Interactive from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Macquarie reiterated an “outperform” rating and issued a $16.00 target price on shares of Rush Street Interactive in a research note on Thursday, February 27th. Wells Fargo & Company increased their price objective on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. Needham & Company LLC restated a “buy” rating and set a $17.00 price objective on shares of Rush Street Interactive in a research report on Thursday, February 27th. Finally, JMP Securities restated a “market perform” rating on shares of Rush Street Interactive in a research report on Monday, January 6th.

Insider Transactions at Rush Street Interactive

In other news, CEO Richard Todd Schwartz sold 4,419 shares of the stock in a transaction on Monday, January 13th. The shares were sold at an average price of $13.75, for a total value of $60,761.25. Following the completion of the sale, the chief executive officer now directly owns 2,392,587 shares of the company’s stock, valued at $32,898,071.25. This represents a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Paul Wierbicki sold 7,500 shares of the stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $15.00, for a total transaction of $112,500.00. Following the completion of the sale, the insider now directly owns 139,387 shares of the company’s stock, valued at approximately $2,090,805. This trade represents a 5.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 988,545 shares of company stock valued at $13,174,489 over the last three months. Corporate insiders own 56.89% of the company’s stock.

Hedge Funds Weigh In On Rush Street Interactive

Hedge funds and other institutional investors have recently modified their holdings of the stock. R Squared Ltd bought a new position in shares of Rush Street Interactive during the fourth quarter worth $28,000. Heck Capital Advisors LLC bought a new position in shares of Rush Street Interactive during the fourth quarter worth $34,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Rush Street Interactive during the third quarter valued at $44,000. WealthTrak Capital Management LLC bought a new position in Rush Street Interactive during the fourth quarter valued at $71,000. Finally, Point72 DIFC Ltd bought a new position in Rush Street Interactive during the third quarter valued at $70,000. Institutional investors own 24.78% of the company’s stock.

Rush Street Interactive Stock Performance

Shares of NYSE RSI opened at $10.95 on Monday. The firm’s 50 day moving average price is $13.38 and its 200-day moving average price is $12.42. The company has a market cap of $2.50 billion, a PE ratio of -547.25 and a beta of 1.92. Rush Street Interactive has a 52-week low of $5.71 and a 52-week high of $16.78.

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.