Rush Street Interactive (NYSE:RSI) Price Target Raised to $14.00 at Benchmark

Rush Street Interactive (NYSE:RSI) had its price target lifted by Benchmark from $12.00 to $14.00 in a report released on Friday morning,Benzinga reports. Benchmark currently has a buy rating on the stock.

A number of other analysts have also recently issued reports on RSI. Needham & Company LLC restated a “buy” rating and set a $17.00 target price on shares of Rush Street Interactive in a research note on Thursday. Susquehanna raised their target price on shares of Rush Street Interactive from $12.00 to $14.00 and gave the stock a “neutral” rating in a research note on Tuesday. Macquarie restated an “outperform” rating and set a $16.00 target price on shares of Rush Street Interactive in a research note on Thursday. Craig Hallum raised their target price 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. Finally, JMP Securities restated a “market perform” rating on shares of Rush Street Interactive in a research note on Monday, January 6th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $15.50.

Rush Street Interactive Price Performance

Shares of RSI opened at $11.66 on Friday. The firm has a 50-day moving average of $14.35 and a 200-day moving average of $12.27. The company has a market cap of $2.63 billion, a PE ratio of -583.00 and a beta of 1.88. Rush Street Interactive has a one year low of $5.22 and a one year high of $16.78.

Insiders Place Their Bets

In other Rush Street Interactive news, CFO Kyle Sauers sold 146,015 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $13.91, for a total value of $2,031,068.65. Following the transaction, the chief financial officer now directly owns 433 shares of the company’s stock, valued at $6,023.03. This trade represents a 99.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard Todd Schwartz sold 4,419 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $13.75, for a total transaction of $60,761.25. Following the completion of the transaction, the chief executive officer now directly owns 2,392,587 shares in the company, valued at approximately $32,898,071.25. This represents a 0.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 825,853 shares of company stock worth $11,655,336 in the last quarter. 56.89% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rush Street Interactive

Hedge funds have recently bought and sold shares of the company. Millrace Asset Group Inc. bought a new position in Rush Street Interactive in the 3rd quarter valued at about $2,135,000. Principal Financial Group Inc. grew its holdings 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 valued at $843,000 after purchasing an additional 67,388 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings 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 purchasing an additional 344,276 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Rush Street Interactive during the 3rd quarter valued at approximately $656,000. Finally, Legato Capital Management LLC bought a new stake in shares of Rush Street Interactive during the 4th quarter valued at approximately $1,897,000. 24.78% of the stock is owned by institutional investors.

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.