Rush Street Interactive (NYSE:RSI) Price Target Raised to $20.00

Key Points

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Rush Street Interactive (NYSE:RSI - Get Free Report) had its target price upped by stock analysts at Benchmark from $17.00 to $20.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. Benchmark's price objective would suggest a potential upside of 8.15% from the stock's current price.

RSI has been the topic of a number of other research reports. Oppenheimer raised their price objective on Rush Street Interactive from $16.00 to $21.00 and gave the company an "outperform" rating in a research report on Thursday. Wall Street Zen upgraded Rush Street Interactive from a "buy" rating to a "strong-buy" rating in a research report on Friday, July 18th. JPMorgan Chase & Co. assumed coverage on Rush Street Interactive in a research report on Monday, June 23rd. They set a "neutral" rating and a $14.00 price target for the company. Needham & Company LLC raised their price objective on Rush Street Interactive from $17.00 to $21.00 and gave the company a "buy" rating in a report on Thursday. Finally, Macquarie reissued an "outperform" rating and issued a $16.00 price objective on shares of Rush Street Interactive in a report on Friday, May 2nd. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Rush Street Interactive presently has an average rating of "Moderate Buy" and an average target price of $17.89.

Rush Street Interactive Stock Performance

Shares of RSI traded up $2.43 during mid-day trading on Thursday, hitting $18.49. 2,032,904 shares of the stock were exchanged, compared to its average volume of 1,643,001. The firm has a 50-day moving average of $14.08 and a two-hundred day moving average of $13.06. Rush Street Interactive has a 52-week low of $8.52 and a 52-week high of $18.75. The company has a market cap of $4.23 billion, a PE ratio of 228.78 and a beta of 1.87.

Rush Street Interactive (NYSE:RSI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.08 by $0.03. The company had revenue of $269.22 million for the quarter, compared to the consensus estimate of $248.98 million. Rush Street Interactive had a return on equity of 7.35% and a net margin of 0.87%. Rush Street Interactive's quarterly revenue was up 22.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.04 EPS. On average, sell-side analysts predict that Rush Street Interactive will post 0.04 EPS for the current year.

Insider Activity

In other news, 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 directly owned 921,884 shares of the company's stock, valued at approximately $12,980,126.72. This represents a 23.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Richard Todd Schwartz sold 193,905 shares of the company's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $15.39, for a total value of $2,984,197.95. Following the transaction, the chief executive officer directly owned 1,017,471 shares of the company's stock, valued at approximately $15,658,878.69. This represents a 16.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,048,576 shares of company stock valued at $28,953,519. Insiders own 56.94% of the company's stock.

Institutional Trading of Rush Street Interactive

A number of large investors have recently made changes to their positions in RSI. Raymond James Financial Inc. acquired a new stake in shares of Rush Street Interactive in the 4th quarter valued at about $1,282,000. American Century Companies Inc. boosted its position in shares of Rush Street Interactive by 45.6% in the 4th quarter. American Century Companies Inc. now owns 147,747 shares of the company's stock valued at $2,027,000 after purchasing an additional 46,293 shares during the period. Sei Investments Co. boosted its position in shares of Rush Street Interactive by 59.2% in the 4th quarter. Sei Investments Co. now owns 333,425 shares of the company's stock valued at $4,575,000 after purchasing an additional 124,045 shares during the period. LPL Financial LLC acquired a new stake in shares of Rush Street Interactive in the 4th quarter valued at about $173,000. Finally, Vanguard Group Inc. boosted its position in shares of Rush Street Interactive by 14.0% in the 4th quarter. Vanguard Group Inc. now owns 8,596,434 shares of the company's stock valued at $117,943,000 after purchasing an additional 1,056,583 shares during the period. 24.78% of the stock is owned by institutional investors and hedge funds.

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.

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