Benchmark Issues Positive Forecast for Rush Street Interactive (NYSE:RSI) Stock Price

Rush Street Interactive (NYSE:RSI) had its target price lifted by investment analysts at Benchmark from $12.00 to $14.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Benchmark’s price target would suggest a potential upside of 20.07% from the company’s previous close.

Other analysts also recently issued reports about the company. Craig Hallum raised their price objective on Rush Street Interactive from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. JMP Securities restated a “market perform” rating on shares of Rush Street Interactive in a report on Monday, January 6th. Macquarie restated an “outperform” rating and set a $16.00 target price on shares of Rush Street Interactive in a report on Thursday. Jefferies Financial Group raised their target price on Rush Street Interactive from $16.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. Finally, Susquehanna raised their target price on Rush Street Interactive from $12.00 to $14.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $15.50.

Rush Street Interactive Trading Up 3.5 %

Shares of NYSE:RSI opened at $11.66 on Friday. The business has a 50-day moving average price of $14.35 and a 200 day moving average price of $12.29. The company has a market capitalization of $2.63 billion, a price-to-earnings ratio of -583.00 and a beta of 1.88. Rush Street Interactive has a 12-month low of $5.22 and a 12-month high of $16.78.

Insider Activity

In other news, insider Einar Roosileht sold 48,968 shares of Rush Street Interactive stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $14.04, for a total value 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 trade represents a 5.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Richard Todd Schwartz sold 45,256 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $13.51, for a total value of $611,408.56. Following the sale, the chief executive officer now directly owns 1,762,227 shares in the company, valued at $23,807,686.77. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 825,853 shares of company stock worth $11,655,336. 56.89% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rush Street Interactive

Several hedge funds and other institutional investors have recently made changes to their positions in the business. New York State Teachers Retirement System raised its position in shares of Rush Street Interactive by 17.2% during the 3rd quarter. New York State Teachers Retirement System now owns 6,938 shares of the company’s stock worth $75,000 after acquiring an additional 1,020 shares in the last quarter. Exchange Traded Concepts LLC raised its position in shares of Rush Street Interactive by 0.4% during the 4th quarter. Exchange Traded Concepts LLC now owns 260,380 shares of the company’s stock worth $3,572,000 after acquiring an additional 1,087 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Rush Street Interactive by 3.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,270 shares of the company’s stock worth $594,000 after acquiring an additional 1,632 shares in the last quarter. Mesirow Financial Investment Management Inc. raised its position in shares of Rush Street Interactive by 7.3% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 25,727 shares of the company’s stock worth $279,000 after acquiring an additional 1,745 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in shares of Rush Street Interactive during the 4th quarter worth about $28,000. 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.