Rush Street Interactive (NYSE:RSI) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Rush Street Interactive (NYSE:RSI) had its price target increased by stock analysts at Needham & Company LLC from $14.00 to $15.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s target price would suggest a potential upside of 36.12% from the stock’s current price.

A number of other research firms have also weighed in on RSI. Craig Hallum increased their price objective on Rush Street Interactive from $11.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Oppenheimer increased their price target on shares of Rush Street Interactive from $10.00 to $14.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Finally, Wells Fargo & Company raised their price target on shares of Rush Street Interactive from $11.00 to $13.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $11.33.

Rush Street Interactive Stock Up 2.4 %

NYSE RSI opened at $11.02 on Thursday. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of -127.44 and a beta of 1.79. The company has a 50-day simple moving average of $10.22 and a two-hundred day simple moving average of $9.28. Rush Street Interactive has a 12-month low of $3.46 and a 12-month high of $11.59.

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

Insider Buying and Selling

In other Rush Street Interactive news, insider Einar Roosileht sold 150,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $9.09, for a total transaction of $1,363,500.00. Following the transaction, the insider now directly owns 809,260 shares of the company’s stock, valued at approximately $7,356,173.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Richard Todd Schwartz sold 40,498 shares of the firm’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 completion of the transaction, the chief executive officer now owns 1,862,997 shares in the company, valued at $18,965,309.46. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Einar Roosileht sold 150,000 shares of Rush Street Interactive stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $9.09, for a total value of $1,363,500.00. Following the sale, the insider now owns 809,260 shares in the company, valued at $7,356,173.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 548,210 shares of company stock valued at $5,179,362 over the last quarter. 56.89% of the stock is owned by company insiders.

Hedge Funds Weigh In On Rush Street Interactive

Several institutional investors and hedge funds have recently added to or reduced their stakes in RSI. New York State Teachers Retirement System lifted its holdings in shares of 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 valued at $75,000 after purchasing an additional 1,020 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Rush Street Interactive by 13,627.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 11,943 shares of the company’s stock valued at $78,000 after buying an additional 11,856 shares during the last quarter. Quarry LP boosted its holdings in Rush Street Interactive by 15.9% in the second quarter. Quarry LP now owns 8,762 shares of the company’s stock worth $84,000 after acquiring an additional 1,200 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Rush Street Interactive in the second quarter worth $98,000. Finally, CWM LLC grew its stake in shares of Rush Street Interactive by 425.6% in the third quarter. CWM LLC now owns 9,209 shares of the company’s stock worth $100,000 after acquiring an additional 7,457 shares during the last quarter. Hedge funds and other 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.