Rush Street Interactive (NYSE:RSI) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Rush Street Interactive (NYSE:RSI) had its price target increased by investment analysts at Jefferies Financial Group from $15.00 to $16.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Jefferies Financial Group’s price target would suggest a potential upside of 52.82% from the stock’s previous close.

Several other brokerages have also recently issued reports on RSI. Oppenheimer lifted their target price on shares of Rush Street Interactive from $10.00 to $14.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Needham & Company LLC upped their price objective on Rush Street Interactive from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday. Craig Hallum boosted their price target on Rush Street Interactive from $11.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, 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 report on Thursday, August 1st. Two investment 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 stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.43.

Rush Street Interactive Stock Performance

Shares of RSI traded down $0.29 during mid-day trading on Thursday, reaching $10.47. The company had a trading volume of 1,700,619 shares, compared to its average volume of 1,584,248. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of -114.89 and a beta of 1.79. The firm has a 50-day moving average price of $10.22 and a 200 day moving average price of $9.28. Rush Street Interactive has a 52 week low of $3.46 and a 52 week high of $11.59.

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

Insider Transactions at Rush Street Interactive

In related news, CEO Richard Todd Schwartz sold 40,498 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $10.18, for a total transaction of $412,269.64. Following the completion of the sale, the chief executive officer now directly owns 1,862,997 shares in the company, valued at approximately $18,965,309.46. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Paul Wierbicki sold 20,437 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $9.53, for a total value of $194,764.61. Following the transaction, the insider now owns 174,982 shares of the company’s stock, valued at $1,667,578.46. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $412,269.64. Following the sale, the chief executive officer now owns 1,862,997 shares in the company, valued at approximately $18,965,309.46. The trade was 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 worth $5,179,362 in the last quarter. Company insiders own 56.89% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. New York State Teachers Retirement System raised its position 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 last quarter. Allspring Global Investments Holdings LLC lifted its stake in Rush Street Interactive by 13,627.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,943 shares of the company’s stock worth $78,000 after purchasing an additional 11,856 shares in the last quarter. Quarry LP boosted its holdings in shares of Rush Street Interactive by 15.9% during the 2nd quarter. Quarry LP now owns 8,762 shares of the company’s stock valued at $84,000 after purchasing an additional 1,200 shares during the last quarter. Principal Financial Group Inc. purchased a new position in shares of Rush Street Interactive during the second quarter valued at about $98,000. Finally, CWM LLC increased its holdings 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 purchasing an additional 7,457 shares during the last quarter. 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.