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

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

A number of other brokerages have also recently weighed in on RSI. Oppenheimer lifted their price objective on shares of Rush Street Interactive from $10.00 to $14.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Wells Fargo & Company increased their price objective on Rush Street Interactive from $11.00 to $13.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, Craig Hallum lifted their target price 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 equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Rush Street Interactive has an average rating of “Moderate Buy” and a consensus price target of $12.43.

Rush Street Interactive Stock Up 0.8 %

RSI opened at $10.91 on Thursday. The firm has a market cap of $2.46 billion, a P/E ratio of -545.50 and a beta of 1.79. Rush Street Interactive has a 52 week low of $3.56 and a 52 week high of $11.59. The business has a fifty day simple moving average of $10.29 and a 200-day simple moving average of $9.32.

Rush Street Interactive (NYSE:RSI) last released 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 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%. Rush Street Interactive’s revenue was up 33.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.08) EPS. Sell-side analysts expect that Rush Street Interactive will post -0.01 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Einar Roosileht sold 150,000 shares of the stock in a transaction 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 transaction, the insider now owns 809,260 shares of the company’s stock, valued at $7,356,173.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Paul Wierbicki sold 20,437 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $9.53, for a total transaction of $194,764.61. Following the completion of the sale, the insider now owns 174,982 shares in the company, valued at $1,667,578.46. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Einar Roosileht sold 150,000 shares of the company’s 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 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 548,210 shares of company stock worth $5,179,362. Corporate insiders own 56.89% of the company’s stock.

Institutional Trading of Rush Street Interactive

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Rush Street Interactive by 1.6% in the first quarter. Vanguard Group Inc. now owns 5,481,219 shares of the company’s stock valued at $35,683,000 after acquiring an additional 85,736 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Rush Street Interactive by 47.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,504,200 shares of the company’s stock valued at $14,425,000 after purchasing an additional 482,872 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Rush Street Interactive by 157.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,425,016 shares of the company’s stock valued at $13,666,000 after purchasing an additional 872,367 shares during the period. Federated Hermes Inc. grew its stake in Rush Street Interactive by 10.9% during the 2nd quarter. Federated Hermes Inc. now owns 1,329,825 shares of the company’s stock worth $12,753,000 after buying an additional 130,217 shares during the last quarter. Finally, Driehaus Capital Management LLC purchased a new position in Rush Street Interactive during the 2nd quarter worth approximately $10,605,000. Institutional investors and hedge funds 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.