Rush Street Interactive, Inc. (NYSE:RSI) Receives $15.50 Average PT from Brokerages

Rush Street Interactive, Inc. (NYSE:RSI) has received a consensus rating of “Buy” from the nine research firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $15.50.

A number of equities analysts have issued reports on RSI shares. Susquehanna upgraded shares of Rush Street Interactive from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 28th. Jefferies Financial Group lifted their price objective on Rush Street Interactive from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. JMP Securities reiterated a “market perform” rating on shares of Rush Street Interactive in a report on Monday, January 6th. Benchmark raised their price target on Rush Street Interactive from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Finally, Macquarie restated an “outperform” rating and issued a $16.00 price objective on shares of Rush Street Interactive in a research report on Thursday, February 27th.

Rush Street Interactive Stock Up 3.8 %

NYSE:RSI opened at $11.72 on Friday. Rush Street Interactive has a 52-week low of $5.71 and a 52-week high of $16.78. The stock has a fifty day simple moving average of $12.16 and a 200-day simple moving average of $12.57. The company has a market capitalization of $2.67 billion, a PE ratio of -586.05 and a beta of 1.90.

Insider Activity at Rush Street Interactive

In other Rush Street Interactive news, insider Paul Wierbicki sold 7,500 shares of Rush Street Interactive stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $15.00, for a total value of $112,500.00. Following the completion of the sale, the insider now owns 139,387 shares in the company, valued at $2,090,805. The trade was a 5.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard Todd Schwartz sold 109,567 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $9.85, for a total transaction of $1,079,234.95. Following the transaction, the chief executive officer now directly owns 2,082,376 shares of the company’s stock, valued at approximately $20,511,403.60. This represents a 5.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 755,281 shares of company stock worth $8,946,577. 56.89% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Rush Street Interactive

A number of large investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its holdings in shares of Rush Street Interactive by 7,958.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,029,239 shares of the company’s stock worth $27,843,000 after buying an additional 2,004,059 shares during the last quarter. Topline Capital Management LLC acquired a new stake in Rush Street Interactive during the fourth quarter worth about $24,851,000. William Blair Investment Management LLC purchased a new position in shares of Rush Street Interactive in the 4th quarter worth about $21,635,000. Nicholas Investment Partners LP acquired a new position in shares of Rush Street Interactive in the 4th quarter valued at about $14,970,000. Finally, Vanguard Group Inc. grew its holdings in shares of Rush Street Interactive by 14.0% during the 4th quarter. Vanguard Group Inc. now owns 8,596,434 shares of the company’s stock worth $117,943,000 after purchasing an additional 1,056,583 shares during the period. Hedge funds and other institutional investors 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.