Analysts Set Rush Street Interactive, Inc. (NYSE:RSI) PT at $15.50

Rush Street Interactive, Inc. (NYSE:RSI) has been assigned a consensus recommendation of “Buy” from the nine analysts that are currently covering the company, 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 1-year price objective among brokerages that have covered the stock in the last year is $15.50.

A number of equities research analysts have commented on the company. Benchmark increased their target price on Rush Street Interactive from $12.00 to $14.00 and gave the company a “buy” rating in a report on Friday, February 28th. Susquehanna raised Rush Street Interactive from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 28th. Macquarie reissued an “outperform” rating and set a $16.00 price target on shares of Rush Street Interactive in a research note on Thursday, February 27th. Needham & Company LLC reissued a “buy” rating and set a $17.00 price target on shares of Rush Street Interactive in a research note on Thursday, February 27th. Finally, Jefferies Financial Group increased their price target on Rush Street Interactive from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th.

Insider Buying and Selling

In related news, CEO Richard Todd Schwartz sold 109,567 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $9.85, for a total value 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 trade represents a 5.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Paul Wierbicki sold 7,500 shares of the stock in a transaction on 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 transaction, the insider now directly owns 139,387 shares in the company, valued at $2,090,805. This trade represents a 5.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 988,545 shares of company stock valued at $13,174,489. 56.89% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RSI. Price T Rowe Associates Inc. MD raised its position in Rush Street Interactive by 7,958.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,029,239 shares of the company’s stock valued at $27,843,000 after purchasing an additional 2,004,059 shares during the period. Topline Capital Management LLC purchased a new position in Rush Street Interactive in the fourth quarter valued at about $24,851,000. William Blair Investment Management LLC purchased a new position in Rush Street Interactive in the fourth quarter valued at about $21,635,000. Nicholas Investment Partners LP purchased a new position in Rush Street Interactive in the fourth quarter valued at about $14,970,000. Finally, Vanguard Group Inc. raised its position in Rush Street Interactive by 14.0% in the fourth 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 hedge funds and other institutional investors.

Rush Street Interactive Stock Up 0.1 %

RSI opened at $10.95 on Monday. The business has a 50 day moving average price of $13.38 and a two-hundred day moving average price of $12.47. Rush Street Interactive has a 52 week low of $5.71 and a 52 week high of $16.78. The company has a market cap of $2.50 billion, a PE ratio of -547.25 and a beta of 1.92.

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.