Benchmark Raises Rush Street Interactive (NYSE:RSI) Price Target to $17.00

Rush Street Interactive (NYSE:RSI - Get Free Report) had its price target upped by Benchmark from $14.00 to $17.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Benchmark's price objective indicates a potential upside of 14.25% from the company's current price.

Several other equities research analysts have also issued reports on RSI. JPMorgan Chase & Co. started coverage on shares of Rush Street Interactive in a report on Monday, June 23rd. They issued a "neutral" rating and a $14.00 target price for the company. Wall Street Zen upgraded shares of Rush Street Interactive from a "buy" rating to a "strong-buy" rating in a research report on Monday, June 9th. Macquarie restated an "outperform" rating and set a $16.00 price objective on shares of Rush Street Interactive in a research report on Friday, May 2nd. Susquehanna lifted 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. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $17.00 target price on shares of Rush Street Interactive in a report on Thursday, May 1st. Two 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's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $15.78.

Rush Street Interactive Stock Down 0.1%

RSI traded down $0.02 during trading on Tuesday, hitting $14.88. The company's stock had a trading volume of 1,162,011 shares, compared to its average volume of 1,765,733. The business's 50 day simple moving average is $12.76 and its 200-day simple moving average is $12.88. The firm has a market cap of $3.41 billion, a PE ratio of 186.02 and a beta of 1.85. Rush Street Interactive has a one year low of $8.52 and a one year high of $16.78.

Rush Street Interactive (NYSE:RSI - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.09 EPS for the quarter, topping analysts' consensus estimates of $0.08 by $0.01. Rush Street Interactive had a return on equity of 7.35% and a net margin of 0.87%. The company had revenue of $262.41 million for the quarter, compared to analysts' expectations of $258.90 million. During the same period last year, the firm earned $0.03 EPS. Rush Street Interactive's revenue for the quarter was up 20.7% compared to the same quarter last year. Equities research analysts expect that Rush Street Interactive will post 0.04 EPS for the current fiscal year.

Insider Activity

In other news, CEO Richard Todd Schwartz sold 193,905 shares of the stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $10.63, for a total transaction of $2,061,210.15. Following the completion of the transaction, the chief executive officer directly owned 1,599,186 shares in the company, valued at approximately $16,999,347.18. This represents a 10.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Einar Roosileht sold 70,000 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $12.47, for a total transaction of $872,900.00. Following the completion of the transaction, the insider directly owned 876,150 shares of the company's stock, valued at approximately $10,925,590.50. This trade represents a 7.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,591,949 shares of company stock worth $20,761,517 over the last 90 days. Corporate insiders own 56.89% of the company's stock.

Institutional Investors Weigh In On Rush Street Interactive

A number of hedge funds have recently bought and sold shares of RSI. Pacer Advisors Inc. increased its holdings in shares of Rush Street Interactive by 94.7% in the 1st quarter. Pacer Advisors Inc. now owns 2,533 shares of the company's stock worth $27,000 after buying an additional 1,232 shares during the last quarter. Summit Securities Group LLC purchased a new position in Rush Street Interactive in the first quarter worth about $33,000. Heck Capital Advisors LLC purchased a new position in Rush Street Interactive in the fourth quarter worth about $34,000. GAMMA Investing LLC increased its stake in Rush Street Interactive by 1,687.6% during the first quarter. GAMMA Investing LLC now owns 6,507 shares of the company's stock worth $70,000 after acquiring an additional 6,143 shares during the last quarter. Finally, WealthTrak Capital Management LLC purchased a new stake in Rush Street Interactive during the fourth quarter valued at approximately $71,000. Hedge funds and other 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.