Rush Street Interactive (NYSE:RSI) Given New $14.00 Price Target at Benchmark

Rush Street Interactive (NYSE:RSI) had its price target lifted by research analysts at Benchmark from $12.00 to $14.00 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Benchmark’s price objective would indicate a potential upside of 20.74% from the stock’s previous close.

RSI has been the subject of several other research reports. Susquehanna lifted their price objective on shares of Rush Street Interactive from $12.00 to $14.00 and gave the company a “neutral” rating in a research note on Tuesday. JMP Securities restated a “market perform” rating on shares of Rush Street Interactive in a report on Monday, January 6th. Craig Hallum lifted their target price on shares of Rush Street Interactive from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Macquarie restated an “outperform” rating and issued a $16.00 price target on shares of Rush Street Interactive in a research report on Thursday. Finally, Wells Fargo & Company upped their target price on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Thursday. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Rush Street Interactive currently has an average rating of “Moderate Buy” and a consensus price target of $15.50.

Rush Street Interactive Stock Up 2.9 %

Rush Street Interactive stock traded up $0.33 during mid-day trading on Friday, hitting $11.60. The company’s stock had a trading volume of 1,093,742 shares, compared to its average volume of 2,099,784. The stock’s fifty day moving average price is $14.39 and its two-hundred day moving average price is $12.25. Rush Street Interactive has a twelve month low of $5.22 and a twelve month high of $16.78. The stock has a market capitalization of $2.62 billion, a P/E ratio of -580.25 and a beta of 1.88.

Insiders Place Their Bets

In related news, insider Einar Roosileht sold 48,968 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.04, for a total transaction of $687,510.72. Following the completion of the transaction, the insider now owns 830,292 shares in the company, valued at approximately $11,657,299.68. This represents a 5.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Richard Todd Schwartz sold 45,256 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $13.51, for a total transaction of $611,408.56. Following the transaction, the chief executive officer now owns 1,762,227 shares of the company’s stock, valued at $23,807,686.77. This represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 825,853 shares of company stock worth $11,655,336. Insiders own 56.89% of the company’s stock.

Institutional Trading of Rush Street Interactive

A number of hedge funds have recently modified their holdings of RSI. Price T Rowe Associates Inc. MD grew its stake in shares of Rush Street Interactive by 7,958.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,029,239 shares of the company’s stock valued at $27,843,000 after purchasing an additional 2,004,059 shares during the period. Topline Capital Management LLC purchased a new stake in Rush Street Interactive in the fourth quarter worth $24,851,000. William Blair Investment Management LLC bought a new position in shares of Rush Street Interactive during the 4th quarter worth $21,635,000. Nicholas Investment Partners LP purchased a new position in Rush Street Interactive in the fourth quarter valued at about $14,970,000. Finally, Vanguard Group Inc. grew its stake in shares of Rush Street Interactive by 14.0% during the fourth quarter. Vanguard Group Inc. now owns 8,596,434 shares of the company’s stock worth $117,943,000 after acquiring an additional 1,056,583 shares during the last quarter. Institutional investors own 24.78% of the company’s stock.

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.