Rush Street Interactive, Inc. (NYSE:RSI) Receives $15.44 Average Price Target from Brokerages

Shares of Rush Street Interactive, Inc. (NYSE:RSI - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the ten ratings firms that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $15.44.

Several brokerages have weighed in on RSI. Needham & Company LLC restated a "buy" rating and set a $17.00 target price on shares of Rush Street Interactive in a research report on Thursday, May 1st. JPMorgan Chase & Co. began coverage on shares of Rush Street Interactive in a research report on Monday, June 23rd. They set a "neutral" rating and a $14.00 target price on the stock. Macquarie reiterated an "outperform" rating and issued a $16.00 price target on shares of Rush Street Interactive in a research report on Friday, May 2nd. Benchmark increased their price target on shares of Rush Street Interactive from $12.00 to $14.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Finally, Susquehanna increased their price target on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company a "positive" rating in a research report on Thursday, May 1st.

Rush Street Interactive Trading Up 1.6%

Shares of Rush Street Interactive stock traded up $0.23 on Wednesday, reaching $14.74. 3,745,580 shares of the stock were exchanged, compared to its average volume of 1,766,675. Rush Street Interactive has a 1-year low of $8.52 and a 1-year high of $16.78. The business has a fifty day moving average price of $12.69 and a two-hundred day moving average price of $12.87. The firm has a market capitalization of $3.37 billion, a PE ratio of 184.26 and a beta of 1.85.

Rush Street Interactive (NYSE:RSI - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.09 earnings per share 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 company had revenue of $262.41 million for the quarter, compared to analyst estimates of $258.90 million. During the same period in the prior year, the business posted $0.03 earnings per share. The firm's revenue for the quarter was up 20.7% compared to the same quarter last year. Research analysts expect that Rush Street Interactive will post 0.04 EPS for the current year.

Insider Activity at Rush Street Interactive

In other news, CEO Richard Todd Schwartz sold 193,905 shares of the firm's stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $10.63, for a total value of $2,061,210.15. Following the transaction, the chief executive officer now owns 1,599,186 shares of the company's stock, valued at approximately $16,999,347.18. This trade represents a 10.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Einar Roosileht sold 60,000 shares of the firm's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $10.69, for a total transaction of $641,400.00. Following the completion of the transaction, the insider now directly owns 956,150 shares in the company, valued at approximately $10,221,243.50. This represents a 5.90% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,671,949 shares of company stock valued at $21,619,717. Company insiders own 56.94% of the company's stock.

Institutional Investors Weigh In On Rush Street Interactive

A number of large investors have recently added to or reduced their stakes in RSI. Rhumbline Advisers grew its holdings in Rush Street Interactive by 2.4% during the 4th quarter. Rhumbline Advisers now owns 103,426 shares of the company's stock valued at $1,419,000 after purchasing an additional 2,457 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Rush Street Interactive by 10.8% during the 4th quarter. Principal Financial Group Inc. now owns 86,051 shares of the company's stock valued at $1,181,000 after purchasing an additional 8,393 shares in the last quarter. New York State Common Retirement Fund grew its holdings in Rush Street Interactive by 732.2% during the 4th quarter. New York State Common Retirement Fund now owns 177,627 shares of the company's stock valued at $2,437,000 after purchasing an additional 156,282 shares in the last quarter. Ieq Capital LLC acquired a new stake in Rush Street Interactive during the 4th quarter valued at $616,000. Finally, Wealthspire Advisors LLC acquired a new stake in Rush Street Interactive during the 4th quarter valued at $206,000. 24.78% of the stock is owned by institutional investors and hedge funds.

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.