Jefferies Financial Group Raises Rush Street Interactive (NYSE:RSI) Price Target to $17.00

Rush Street Interactive (NYSE:RSI - Get Free Report) had its price target boosted by equities researchers at Jefferies Financial Group from $16.00 to $17.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Jefferies Financial Group's price target indicates a potential upside of 12.21% from the company's previous close.

RSI has been the topic of several other reports. Needham & Company LLC boosted their target price on Rush Street Interactive from $14.00 to $15.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. JMP Securities restated a "market perform" rating on shares of Rush Street Interactive in a report on Monday, January 6th. Finally, Craig Hallum increased their price objective on shares of Rush Street Interactive from $14.00 to $17.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Rush Street Interactive presently has a consensus rating of "Moderate Buy" and an average price target of $13.67.

Rush Street Interactive Stock Performance

NYSE:RSI traded up $0.35 during midday trading on Wednesday, reaching $15.15. 2,255,432 shares of the stock traded hands, compared to its average volume of 1,914,881. The stock has a market capitalization of $3.42 billion, a PE ratio of -757.50 and a beta of 1.88. Rush Street Interactive has a 12-month low of $3.56 and a 12-month high of $15.68. The business has a 50-day moving average of $13.36 and a two-hundred day moving average of $11.16.

Insider Buying and Selling

In other Rush Street Interactive news, insider Paul Wierbicki sold 7,500 shares of the stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $15.00, for a total transaction of $112,500.00. Following the sale, the insider now directly owns 139,387 shares of the company's stock, valued at approximately $2,090,805. This trade represents a 5.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard Todd Schwartz sold 4,419 shares of the business's stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $13.75, for a total value of $60,761.25. Following the completion of the transaction, the chief executive officer now directly owns 2,392,587 shares of the company's stock, valued at approximately $32,898,071.25. This trade represents a 0.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 884,287 shares of company stock valued at $11,632,978 over the last quarter. 56.89% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rush Street Interactive

Several large investors have recently made changes to their positions in RSI. Millrace Asset Group Inc. acquired a new stake in Rush Street Interactive during the third quarter valued at $2,135,000. Principal Financial Group Inc. boosted its stake in shares of Rush Street Interactive by 656.2% during the 3rd quarter. Principal Financial Group Inc. now owns 77,658 shares of the company's stock worth $843,000 after acquiring an additional 67,388 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Rush Street Interactive by 72.2% during the 3rd 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 during the period. Acadian Asset Management LLC purchased a new position in shares of Rush Street Interactive in the 2nd quarter valued at about $587,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Rush Street Interactive in the 3rd quarter worth about $656,000. 24.78% of the stock is currently owned by institutional investors and hedge funds.

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.