Rush Street Interactive (NYSE:RSI) Price Target Raised to $10.00 at Craig Hallum

Rush Street Interactive (NYSE:RSI) had its price target lifted by stock analysts at Craig Hallum from $8.00 to $10.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Craig Hallum’s target price indicates a potential upside of 32.10% from the company’s previous close.

RSI has been the subject of several other reports. Susquehanna reiterated a “neutral” rating and set a $6.00 target price (up from $5.00) on shares of Rush Street Interactive in a research report on Monday, March 4th. Wells Fargo & Company upped their target price on shares of Rush Street Interactive from $8.00 to $9.00 and gave the stock an “overweight” rating in a research report on Thursday. Oppenheimer raised their price target on Rush Street Interactive from $9.00 to $10.00 and gave the company an “outperform” rating in a research report on Thursday. JMP Securities reiterated a “market perform” rating on shares of Rush Street Interactive in a report on Friday, March 8th. Finally, Needham & Company LLC increased their price objective on Rush Street Interactive from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Thursday. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $8.33.

Rush Street Interactive Price Performance

NYSE:RSI traded up $1.15 on Thursday, reaching $7.57. 3,668,190 shares of the company’s stock were exchanged, compared to its average volume of 1,233,733. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of -28.15 and a beta of 1.67. The stock has a fifty day simple moving average of $6.19 and a 200-day simple moving average of $5.08. Rush Street Interactive has a 52 week low of $2.85 and a 52 week high of $8.38.

Rush Street Interactive (NYSE:RSI) last posted its quarterly earnings results on Wednesday, March 6th. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. The firm had revenue of $193.85 million during the quarter, compared to analyst estimates of $181.50 million. Rush Street Interactive had a negative return on equity of 28.95% and a negative net margin of 2.65%. As a group, sell-side analysts predict that Rush Street Interactive will post -0.22 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Richard Todd Schwartz sold 38,687 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $5.83, for a total value of $225,545.21. Following the completion of the transaction, the chief executive officer now owns 2,256,569 shares of the company’s stock, valued at approximately $13,155,797.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Richard Todd Schwartz sold 38,687 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $5.83, for a total value of $225,545.21. Following the sale, the chief executive officer now directly owns 2,256,569 shares of the company’s stock, valued at approximately $13,155,797.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul Wierbicki sold 22,743 shares of Rush Street Interactive stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $5.83, for a total transaction of $132,591.69. Following the transaction, the insider now directly owns 174,982 shares of the company’s stock, valued at $1,020,145.06. The disclosure for this sale can be found here. In the last ninety days, insiders sold 331,552 shares of company stock worth $2,094,498. 56.96% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rush Street Interactive

A number of institutional investors have recently made changes to their positions in RSI. SG Americas Securities LLC purchased a new stake in shares of Rush Street Interactive during the third quarter valued at $52,000. Los Angeles Capital Management LLC purchased a new stake in shares of Rush Street Interactive during the 3rd quarter valued at about $611,000. Assenagon Asset Management S.A. grew its stake in shares of Rush Street Interactive by 32.6% in the third quarter. Assenagon Asset Management S.A. now owns 1,836,077 shares of the company’s stock worth $8,483,000 after acquiring an additional 451,171 shares during the period. Jump Financial LLC raised its holdings in shares of Rush Street Interactive by 160.3% during the third quarter. Jump Financial LLC now owns 83,289 shares of the company’s stock valued at $385,000 after purchasing an additional 51,289 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new position in Rush Street Interactive during the third quarter valued at approximately $107,000. Hedge funds and other institutional investors own 24.78% of the company’s stock.

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.