Macquarie restated their outperform rating on shares of Rush Street Interactive (NYSE:RSI - Free Report) in a research note published on Thursday morning,Benzinga reports. The firm currently has a $16.00 target price on the stock.
A number of other equities research analysts have also weighed in on RSI. JMP Securities restated a "market perform" rating on shares of Rush Street Interactive in a report on Monday, January 6th. Craig Hallum boosted their price target on shares of Rush Street Interactive from $14.00 to $17.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Wells Fargo & Company raised their price objective on Rush Street Interactive from $14.00 to $15.00 and gave the company an "overweight" rating in a research note on Thursday. Susquehanna boosted their target price on Rush Street Interactive from $12.00 to $14.00 and gave the company a "neutral" rating in a research note on Tuesday, February 25th. Finally, Needham & Company LLC restated a "buy" rating and set a $17.00 price target on shares of Rush Street Interactive in a research report on Thursday. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Rush Street Interactive has an average rating of "Buy" and a consensus price target of $15.50.
Read Our Latest Analysis on RSI
Rush Street Interactive Stock Down 2.0 %
Shares of NYSE RSI traded down $0.24 during trading hours on Thursday, reaching $11.42. 1,392,945 shares of the stock traded hands, compared to its average volume of 2,151,325. The company has a market capitalization of $2.58 billion, a P/E ratio of -573.00 and a beta of 1.88. The company's 50-day simple moving average is $14.35 and its two-hundred day simple moving average is $12.31. Rush Street Interactive has a 52-week low of $5.22 and a 52-week high of $16.78.
Insider Activity at Rush Street Interactive
In other news, insider Einar Roosileht sold 70,000 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $14.41, for a total value of $1,008,700.00. Following the completion of the sale, the insider now directly owns 946,150 shares of the company's stock, valued at approximately $13,634,021.50. This trade represents a 6.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Richard Todd Schwartz sold 45,256 shares of the business's stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $13.51, for a total transaction of $611,408.56. Following the transaction, the chief executive officer now owns 1,762,227 shares in the company, valued at $23,807,686.77. This represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 800,853 shares of company stock worth $11,292,836 in the last 90 days. Company insiders own 56.89% of the company's stock.
Institutional Trading of Rush Street Interactive
Institutional investors and hedge funds have recently bought and sold shares of the stock. Millrace Asset Group Inc. bought a new position in shares of Rush Street Interactive in the 3rd quarter worth approximately $2,135,000. Principal Financial Group Inc. raised its holdings in Rush Street Interactive by 656.2% in the third quarter. Principal Financial Group Inc. now owns 77,658 shares of the company's stock worth $843,000 after purchasing an additional 67,388 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in Rush Street Interactive by 72.2% during 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 buying an additional 344,276 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Rush Street Interactive during the third quarter valued at $656,000. Finally, Legato Capital Management LLC bought a new stake in shares of Rush Street Interactive during the 4th quarter valued at $1,897,000. 24.78% of the stock is currently owned by hedge funds and other institutional investors.
Rush Street Interactive Company Profile
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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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