Rush Street Interactive, Inc. (NYSE:RSI) Receives $12.43 Average Target Price from Analysts

Shares of Rush Street Interactive, Inc. (NYSE:RSI) have been given an average recommendation of “Moderate Buy” by the seven brokerages that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $12.43.

A number of brokerages recently commented on RSI. Oppenheimer lifted 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. Jefferies Financial Group lifted their price objective on Rush Street Interactive from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Wells Fargo & Company lifted their price objective on Rush Street Interactive from $11.00 to $13.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Needham & Company LLC lifted their price objective on Rush Street Interactive from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Craig Hallum raised their target price on Rush Street Interactive from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, October 31st.

Rush Street Interactive Stock Performance

NYSE:RSI opened at $11.26 on Tuesday. The stock’s fifty day moving average price is $10.72 and its two-hundred day moving average price is $9.74. The company has a market cap of $2.54 billion, a price-to-earnings ratio of -562.75 and a beta of 1.78. Rush Street Interactive has a 52-week low of $3.56 and a 52-week high of $12.46.

Insider Activity

In other news, CFO Kyle Sauers sold 25,934 shares of Rush Street Interactive stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $12.30, for a total transaction of $318,988.20. Following the transaction, the chief financial officer now owns 338,614 shares in the company, valued at $4,164,952.20. The trade was a 7.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Paul Wierbicki sold 35,000 shares of Rush Street Interactive stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $11.23, for a total value of $393,050.00. Following the transaction, the insider now owns 139,982 shares in the company, valued at $1,571,997.86. This trade represents a 20.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 210,934 shares of company stock worth $2,075,538 in the last 90 days. Corporate insiders own 56.89% of the company’s stock.

Hedge Funds Weigh In On Rush Street Interactive

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Rush Street Interactive by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 5,481,219 shares of the company’s stock valued at $35,683,000 after acquiring an additional 85,736 shares in the last quarter. Geode Capital Management LLC lifted its stake in Rush Street Interactive by 5.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,736,259 shares of the company’s stock valued at $18,843,000 after acquiring an additional 92,314 shares in the last quarter. State Street Corp lifted its stake in Rush Street Interactive by 3.6% in the 3rd quarter. State Street Corp now owns 1,612,892 shares of the company’s stock valued at $17,500,000 after acquiring an additional 55,697 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Rush Street Interactive by 47.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,504,200 shares of the company’s stock valued at $14,425,000 after acquiring an additional 482,872 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Rush Street Interactive by 157.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,425,016 shares of the company’s stock valued at $13,666,000 after acquiring an additional 872,367 shares in the last quarter. Institutional investors 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.