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

Rush Street Interactive (NYSE:RSI) had its price target upped by equities researchers at Susquehanna from $12.00 to $14.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Susquehanna’s target price suggests a potential upside of 5.94% from the company’s previous close.

RSI has been the topic of a number of other research reports. Needham & Company LLC increased their price objective on shares of Rush Street Interactive from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Craig Hallum increased their price target on Rush Street Interactive from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Jefferies Financial Group boosted their price objective on Rush Street Interactive from $16.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. Finally, JMP Securities reiterated a “market perform” rating on shares of Rush Street Interactive in a report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $15.33.

Rush Street Interactive Stock Down 3.3 %

Rush Street Interactive stock opened at $13.22 on Tuesday. The company has a market capitalization of $2.98 billion, a PE ratio of -660.75 and a beta of 1.88. Rush Street Interactive has a 12-month low of $5.22 and a 12-month high of $16.78. The firm’s fifty day moving average is $14.44 and its 200 day moving average is $12.22.

Insider Transactions at Rush Street Interactive

In related news, CEO Richard Todd Schwartz sold 4,419 shares of the company’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $13.75, for a total transaction of $60,761.25. Following the completion of the sale, the chief executive officer now 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Mattias Stetz sold 25,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $14.50, for a total value of $362,500.00. Following the transaction, the chief operating officer now owns 550,484 shares in the company, valued at approximately $7,982,018. This trade represents a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 825,853 shares of company stock valued at $11,655,336 over the last ninety days. 56.89% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Millrace Asset Group Inc. bought a new position in shares of Rush Street Interactive during the 3rd quarter worth approximately $2,135,000. Principal Financial Group Inc. increased its position in shares of Rush Street Interactive by 656.2% during the third quarter. Principal Financial Group Inc. now owns 77,658 shares of the company’s stock valued at $843,000 after acquiring an additional 67,388 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Rush Street Interactive by 72.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 820,955 shares of the company’s stock worth $8,907,000 after acquiring an additional 344,276 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Rush Street Interactive in the third quarter worth $656,000. Finally, Legato Capital Management LLC bought a new position in Rush Street Interactive in the 4th quarter valued at $1,897,000. 24.78% of the stock is currently owned by hedge funds and other 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.