Benchmark Issues Positive Forecast for Rush Street Interactive (NYSE:RSI) Stock Price

Rush Street Interactive (NYSE:RSI - Free Report) had its target price hoisted by Benchmark from $12.00 to $14.00 in a research note released on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other brokerages also recently issued reports on RSI. Macquarie reaffirmed an "outperform" rating and set a $16.00 price target on shares of Rush Street Interactive in a report on Thursday, February 27th. Wells Fargo & Company raised their price target on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company an "overweight" rating in a report on Thursday, February 27th. JMP Securities reissued a "market perform" rating on shares of Rush Street Interactive in a report on Monday, January 6th. Susquehanna raised their target price on shares of Rush Street Interactive from $12.00 to $14.00 and gave the stock a "neutral" rating in a report on Tuesday, February 25th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $17.00 target price on shares of Rush Street Interactive in a research report on Thursday, February 27th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $15.50.

Remove Ads

Rush Street Interactive Price Performance

NYSE RSI traded up $0.02 during mid-day trading on Friday, reaching $11.36. The stock had a trading volume of 2,317,495 shares, compared to its average volume of 2,192,697. The company has a fifty day moving average price of $14.31 and a 200 day moving average price of $12.33. Rush Street Interactive has a 1 year low of $5.22 and a 1 year high of $16.78. The stock has a market cap of $2.56 billion, a PE ratio of -567.75 and a beta of 1.88.

Insider Activity at Rush Street Interactive

In other news, Director Judith Gold sold 118,001 shares of Rush Street Interactive stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $13.55, for a total transaction of $1,598,913.55. Following the transaction, the director now directly owns 21,999 shares of the company's stock, valued at $298,086.45. The trade was a 84.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard Todd Schwartz sold 45,256 shares of the business's stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $13.51, for a total value of $611,408.56. Following the transaction, the chief executive officer now owns 1,762,227 shares of the company's stock, valued at approximately $23,807,686.77. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 800,853 shares of company stock worth $11,292,836. 56.89% of the stock is owned by company insiders.

Hedge Funds Weigh In On Rush Street Interactive

Large investors have recently added to or reduced their stakes in the company. Millrace Asset Group Inc. bought a new stake in shares of Rush Street Interactive during the 3rd quarter valued at $2,135,000. Principal Financial Group Inc. raised its holdings in Rush Street Interactive by 656.2% during the third quarter. Principal Financial Group Inc. now owns 77,658 shares of the company's stock valued at $843,000 after acquiring an additional 67,388 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Rush Street Interactive by 72.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 820,955 shares of the company's stock valued at $8,907,000 after acquiring an additional 344,276 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Rush Street Interactive in the third quarter worth about $656,000. Finally, Legato Capital Management LLC bought a new stake in Rush Street Interactive during the 4th quarter valued at approximately $1,897,000. 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.