Jefferies Financial Group Forecasts Strong Price Appreciation for Rush Street Interactive (NYSE:RSI) Stock

Rush Street Interactive (NYSE:RSI - Free Report) had its price target increased by Jefferies Financial Group from $17.00 to $18.00 in a report released on Thursday,Benzinga reports. They currently have a buy rating on the stock.

RSI has been the subject of a number of other research reports. Macquarie reissued an "outperform" rating and issued a $16.00 price objective on shares of Rush Street Interactive in a research report on Friday, May 2nd. Susquehanna raised their target price on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company a "positive" rating in a research note on Thursday, May 1st. Needham & Company LLC restated a "buy" rating and issued a $17.00 price target on shares of Rush Street Interactive in a report on Thursday, May 1st. Wall Street Zen raised shares of Rush Street Interactive from a "buy" rating to a "strong-buy" rating in a report on Monday, June 9th. Finally, JPMorgan Chase & Co. started coverage on shares of Rush Street Interactive in a research note on Monday, June 23rd. They issued a "neutral" rating and a $14.00 price target for the company. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $15.89.

Rush Street Interactive Trading Down 3.2%

Shares of RSI traded down $0.47 during trading hours on Thursday, reaching $14.45. The company had a trading volume of 721,910 shares, compared to its average volume of 1,764,417. Rush Street Interactive has a 12-month low of $8.52 and a 12-month high of $16.78. The company has a market capitalization of $3.31 billion, a price-to-earnings ratio of 135.64 and a beta of 1.87. The firm has a 50 day simple moving average of $12.89 and a 200-day simple moving average of $12.90.

Rush Street Interactive (NYSE:RSI - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.08 by $0.01. Rush Street Interactive had a net margin of 0.87% and a return on equity of 7.35%. The business had revenue of $262.41 million for the quarter, compared to analyst estimates of $258.90 million. During the same period in the previous year, the firm earned $0.03 EPS. The business's revenue for the quarter was up 20.7% compared to the same quarter last year. Sell-side analysts forecast that Rush Street Interactive will post 0.04 earnings per share for the current year.

Insider Buying and Selling

In other Rush Street Interactive news, insider Einar Roosileht sold 70,000 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $12.47, for a total value of $872,900.00. Following the sale, the insider directly owned 876,150 shares of the company's stock, valued at $10,925,590.50. This trade represents a 7.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Masi Niccolo De sold 286,769 shares of the company's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $14.08, for a total transaction of $4,037,707.52. Following the completion of the transaction, the director owned 921,884 shares of the company's stock, valued at approximately $12,980,126.72. This trade represents a 23.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,591,949 shares of company stock worth $20,761,517 over the last ninety days. 56.94% of the stock is owned by insiders.

Hedge Funds Weigh In On Rush Street Interactive

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Rush Street Interactive by 14.0% during the fourth quarter. Vanguard Group Inc. now owns 8,596,434 shares of the company's stock valued at $117,943,000 after buying an additional 1,056,583 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Rush Street Interactive by 1,617.7% in the 1st quarter. Alliancebernstein L.P. now owns 6,133,759 shares of the company's stock worth $65,754,000 after acquiring an additional 5,776,660 shares in the last quarter. Nuveen LLC purchased a new position in Rush Street Interactive during the first quarter valued at approximately $29,005,000. Arrowstreet Capital Limited Partnership grew its position in Rush Street Interactive by 62.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,663,246 shares of the company's stock valued at $36,540,000 after purchasing an additional 1,018,889 shares in the last quarter. Finally, Driehaus Capital Management LLC grew its position in Rush Street Interactive by 12.7% during the first quarter. Driehaus Capital Management LLC now owns 2,480,268 shares of the company's stock valued at $26,588,000 after purchasing an additional 279,751 shares in the last quarter. Institutional investors own 24.78% of the company's stock.

Rush Street Interactive Company Profile

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.