Craig Hallum Increases Rush Street Interactive (NYSE:RSI) Price Target to $17.00

Rush Street Interactive (NYSE:RSI) had its price objective lifted by analysts at Craig Hallum from $14.00 to $17.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Craig Hallum’s price objective indicates a potential upside of 62.37% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on RSI. Jefferies Financial Group raised their price objective on shares of Rush Street Interactive from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday. Needham & Company LLC upped their price objective on Rush Street Interactive from $14.00 to $15.00 and gave the company a “buy” rating in a report on Thursday. Wells Fargo & Company raised 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. Finally, Oppenheimer upped their price target on Rush Street Interactive from $10.00 to $14.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $12.43.

Rush Street Interactive Trading Down 2.7 %

NYSE RSI traded down $0.29 during trading hours on Thursday, reaching $10.47. 1,700,619 shares of the company’s stock were exchanged, compared to its average volume of 1,584,248. The firm has a fifty day moving average of $10.22 and a 200-day moving average of $9.28. Rush Street Interactive has a one year low of $3.46 and a one year high of $11.59. The stock has a market cap of $2.36 billion, a PE ratio of -114.89 and a beta of 1.79.

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

Insiders Place Their Bets

In other Rush Street Interactive news, CEO Richard Todd Schwartz sold 40,498 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $10.18, for a total value of $412,269.64. Following the sale, the chief executive officer now owns 1,862,997 shares in the company, valued at approximately $18,965,309.46. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Einar Roosileht sold 150,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $9.09, for a total transaction of $1,363,500.00. Following the sale, the insider now owns 809,260 shares in the company, valued at approximately $7,356,173.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Richard Todd Schwartz sold 40,498 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $10.18, for a total value of $412,269.64. Following the completion of the transaction, the chief executive officer now owns 1,862,997 shares of the company’s stock, valued at approximately $18,965,309.46. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 548,210 shares of company stock worth $5,179,362. Corporate insiders own 56.89% of the company’s stock.

Institutional Investors Weigh In On Rush Street Interactive

Several large investors have recently made changes to their positions in the stock. New York State Teachers Retirement System increased its holdings in Rush Street Interactive by 17.2% during the third quarter. New York State Teachers Retirement System now owns 6,938 shares of the company’s stock worth $75,000 after buying an additional 1,020 shares during the last quarter. Quarry LP grew its position in shares of Rush Street Interactive by 15.9% in the 2nd quarter. Quarry LP now owns 8,762 shares of the company’s stock valued at $84,000 after acquiring an additional 1,200 shares during the period. CWM LLC increased its stake in shares of Rush Street Interactive by 425.6% during the 3rd quarter. CWM LLC now owns 9,209 shares of the company’s stock worth $100,000 after purchasing an additional 7,457 shares during the last quarter. Principal Financial Group Inc. bought a new stake in shares of Rush Street Interactive in the 2nd quarter valued at about $98,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in Rush Street Interactive by 13,627.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,943 shares of the company’s stock valued at $78,000 after purchasing an additional 11,856 shares during the last quarter. Institutional investors and hedge funds own 24.78% of the company’s stock.

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.