Rush Street Interactive (NYSE:RSI - Get Free Report) had its price target hoisted by equities researchers at Wells Fargo & Company from $14.00 to $15.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Wells Fargo & Company's price target would indicate a potential upside of 32.16% from the company's previous close.
Other equities research analysts have also recently issued research reports about the company. Craig Hallum boosted their target price on Rush Street Interactive from $14.00 to $17.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. JMP Securities reiterated a "market perform" rating on shares of Rush Street Interactive in a research note on Monday, January 6th. Susquehanna boosted their price objective 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. Jefferies Financial Group lifted their price objective on Rush Street Interactive from $16.00 to $17.00 and gave the stock a "buy" rating in a research report on Wednesday, January 15th. Finally, Needham & Company LLC restated a "buy" rating and issued a $17.00 target price on shares of Rush Street Interactive in a report on Thursday. 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 stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $15.50.
View Our Latest Stock Report on Rush Street Interactive
Rush Street Interactive Trading Down 2.7 %
RSI traded down $0.31 during mid-day trading on Thursday, hitting $11.35. 2,735,287 shares of the stock were exchanged, compared to its average volume of 2,186,692. The company has a market cap of $2.56 billion, a PE ratio of -567.50 and a beta of 1.88. Rush Street Interactive has a 1-year low of $5.22 and a 1-year high of $16.78. The firm's fifty day moving average is $14.35 and its two-hundred day moving average is $12.31.
Insiders Place Their Bets
In other news, CEO Richard Todd Schwartz sold 133,905 shares of Rush Street Interactive stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $14.22, for a total value of $1,904,129.10. Following the transaction, the chief executive officer now directly owns 2,251,943 shares of the company's stock, valued at $32,022,629.46. The trade was a 5.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Einar Roosileht sold 48,968 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $14.04, for a total transaction of $687,510.72. Following the sale, the insider now directly owns 830,292 shares of the company's stock, valued at approximately $11,657,299.68. This trade represents a 5.57 % 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 valued at $11,292,836 over the last quarter. Company insiders own 56.89% of the company's stock.
Hedge Funds Weigh In On Rush Street Interactive
Hedge funds and other institutional investors have recently made changes to their positions in the business. 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. Arrowstreet Capital Limited Partnership grew its stake in shares of Rush Street Interactive by 62.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,663,246 shares of the company's stock valued at $36,540,000 after buying an additional 1,018,889 shares in the last quarter. Driehaus Capital Management LLC raised its holdings in shares of Rush Street Interactive by 56.6% during the 4th quarter. Driehaus Capital Management LLC now owns 2,200,517 shares of the company's stock valued at $30,191,000 after buying an additional 795,719 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Rush Street Interactive by 7,958.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,029,239 shares of the company's stock worth $27,843,000 after acquiring an additional 2,004,059 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in Rush Street Interactive by 43.9% during the 4th quarter. Renaissance Technologies LLC now owns 1,962,400 shares of the company's stock worth $26,924,000 after acquiring an additional 598,300 shares in the last quarter. Institutional investors and hedge funds own 24.78% of the company's stock.
Rush Street Interactive Company Profile
(
Get Free Report)
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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