Needham & Company LLC Boosts Rush Street Interactive (NYSE:RSI) Price Target to $15.00

Rush Street Interactive (NYSE:RSI) had its price target increased by investment analysts at Needham & Company LLC from $14.00 to $15.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s target price would suggest a potential upside of 37.49% from the company’s current price.

A number of other research analysts have also issued reports on the stock. Wells Fargo & Company boosted their price target on shares of Rush Street Interactive from $11.00 to $13.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Oppenheimer boosted their target price 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. Finally, Craig Hallum raised their price target on Rush Street Interactive from $11.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Two investment 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 stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.43.

Rush Street Interactive Trading Up 0.8 %

Rush Street Interactive stock opened at $10.91 on Thursday. The stock has a 50 day moving average of $10.29 and a two-hundred day moving average of $9.32. Rush Street Interactive has a twelve month low of $3.56 and a twelve month high of $11.59. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of -545.50 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, topping the consensus estimate of ($0.02) by $0.06. The firm had revenue of $220.38 million during the quarter, compared to the consensus estimate of $201.37 million. Rush Street Interactive had a negative return on equity of 3.82% and a negative net margin of 0.16%. The company’s revenue for the quarter was up 33.5% on a year-over-year basis. During the same period last year, the company earned ($0.08) earnings per share. Equities analysts predict that Rush Street Interactive will post -0.01 earnings per share for the current year.

Insider Transactions at Rush Street Interactive

In related news, insider Einar Roosileht sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $9.09, for a total value of $1,363,500.00. Following the completion of the transaction, the insider now directly owns 809,260 shares of the company’s stock, valued at $7,356,173.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Richard Todd Schwartz sold 78,593 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $9.56, for a total value of $751,349.08. Following the sale, the chief executive officer now owns 1,984,404 shares of the company’s stock, valued at approximately $18,970,902.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Einar Roosileht sold 150,000 shares of the stock in a transaction 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 approximately $7,356,173.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 548,210 shares of company stock valued at $5,179,362 in the last quarter. 56.89% of the stock is currently owned by corporate insiders.

Institutional Trading of Rush Street Interactive

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Mesirow Financial Investment Management Inc. raised its stake in Rush Street Interactive by 7.3% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 25,727 shares of the company’s stock valued at $279,000 after purchasing an additional 1,745 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Rush Street Interactive by 656.2% in the third quarter. Principal Financial Group Inc. now owns 77,658 shares of the company’s stock valued at $843,000 after buying an additional 67,388 shares during the last quarter. New York State Teachers Retirement System lifted its stake 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 buying an additional 1,020 shares during the period. Precision Wealth Strategies LLC acquired a new stake in Rush Street Interactive during the third quarter worth approximately $349,000. Finally, OmniStar Financial Group Inc. grew its stake in Rush Street Interactive by 581.2% in the 3rd quarter. OmniStar Financial Group Inc. now owns 80,862 shares of the company’s stock worth $877,000 after acquiring an additional 68,992 shares during the period. 24.78% of the stock is currently owned by hedge funds and other institutional investors.

Rush Street Interactive Company Profile

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.