Brokerages Set Rush Street Interactive, Inc. (NYSE:RSI) Target Price at $11.17

Rush Street Interactive, Inc. (NYSE:RSI - Get Free Report) has been given a consensus rating of "Moderate Buy" by the six analysts that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $11.17.

Several brokerages have recently issued reports on RSI. Oppenheimer boosted their price objective on Rush Street Interactive from $10.00 to $14.00 and gave the stock an "outperform" rating in a research report on Thursday, August 1st. Craig Hallum boosted their price objective on Rush Street Interactive from $11.00 to $14.00 and gave the stock a "buy" rating in a research report on Thursday, August 1st. Needham & Company LLC boosted their target price on Rush Street Interactive from $10.00 to $14.00 and gave the stock a "buy" rating in a report on Thursday, August 1st. Finally, Wells Fargo & Company boosted their target price on Rush Street Interactive from $11.00 to $13.00 and gave the stock an "overweight" rating in a report on Thursday, August 1st.

Insider Buying and Selling at Rush Street Interactive

In other Rush Street Interactive news, CEO Richard Todd Schwartz sold 40,498 shares of the company's stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $10.18, for a total transaction of $412,269.64. Following the completion of the sale, the chief executive officer now directly owns 1,862,997 shares in the company, valued at $18,965,309.46. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Einar Roosileht sold 150,000 shares of the company's stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $9.09, for a total transaction of $1,363,500.00. Following the completion of the transaction, the insider now owns 809,260 shares of the company's stock, valued at approximately $7,356,173.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard Todd Schwartz sold 40,498 shares of the company's stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $10.18, for a total transaction of $412,269.64. Following the transaction, the chief executive officer now directly owns 1,862,997 shares of the company's stock, valued at $18,965,309.46. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 548,210 shares of company stock worth $5,179,362 over the last ninety days. Company insiders own 56.89% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RSI. Allspring Global Investments Holdings LLC raised its position in Rush Street Interactive by 13,627.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 11,943 shares of the company's stock worth $78,000 after purchasing an additional 11,856 shares in the last quarter. Quarry LP raised its position in Rush Street Interactive by 15.9% in the second quarter. Quarry LP now owns 8,762 shares of the company's stock worth $84,000 after purchasing an additional 1,200 shares in the last quarter. Principal Financial Group Inc. acquired a new position in Rush Street Interactive in the second quarter worth about $98,000. CWM LLC raised its position in Rush Street Interactive by 425.6% in the third quarter. CWM LLC now owns 9,209 shares of the company's stock worth $100,000 after purchasing an additional 7,457 shares in the last quarter. Finally, North Star Investment Management Corp. raised its position in Rush Street Interactive by 303.9% in the first quarter. North Star Investment Management Corp. now owns 20,600 shares of the company's stock worth $134,000 after purchasing an additional 15,500 shares in the last quarter. Institutional investors and hedge funds own 24.78% of the company's stock.

Rush Street Interactive Stock Down 1.1 %

RSI stock traded down $0.12 during midday trading on Friday, reaching $11.01. The company had a trading volume of 1,407,382 shares, compared to its average volume of 1,586,409. The stock has a 50 day moving average price of $10.00 and a 200 day moving average price of $9.06. Rush Street Interactive has a fifty-two week low of $3.17 and a fifty-two week high of $11.59. The firm has a market capitalization of $2.48 billion, a PE ratio of -64.76 and a beta of 1.79.

Rush Street Interactive (NYSE:RSI - Get Free Report) last issued its earnings results on Wednesday, July 31st. The company reported $0.04 EPS for the quarter, beating analysts' consensus estimates of ($0.02) by $0.06. Rush Street Interactive had a negative return on equity of 12.45% and a negative net margin of 0.84%. The company had revenue of $220.38 million during the quarter, compared to the consensus estimate of $201.37 million. During the same period in the previous year, the firm posted ($0.08) earnings per share. Rush Street Interactive's quarterly revenue was up 33.5% compared to the same quarter last year. Research analysts predict that Rush Street Interactive will post -0.01 EPS for the current year.

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.