Analysts Set Rush Street Interactive, Inc. (NYSE:RSI) Price Target at $11.17

Rush Street Interactive, Inc. (NYSE:RSI) has been given a consensus recommendation of “Moderate Buy” by the six brokerages that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $11.17.

RSI has been the subject of a number of analyst reports. Wells Fargo & Company increased their price target on shares of Rush Street Interactive from $11.00 to $13.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Needham & Company LLC raised their price objective on Rush Street Interactive from $10.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Oppenheimer lifted their target price on Rush Street Interactive from $10.00 to $14.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Finally, Craig Hallum increased their price target on Rush Street Interactive from $11.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, August 1st.

Insider Activity

In related news, CEO Richard Todd Schwartz sold 40,498 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 1,862,997 shares in the company, valued at $18,965,309.46. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Rush Street Interactive news, CEO Richard Todd Schwartz sold 40,498 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 1,862,997 shares in the company, valued at $18,965,309.46. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Einar Roosileht sold 150,000 shares of Rush Street Interactive stock in a transaction 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 sale, the insider now directly owns 809,260 shares of the company’s stock, valued at approximately $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 90 days, insiders have sold 548,210 shares of company stock valued at $5,179,362. 56.89% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings 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 worth $35,683,000 after purchasing an additional 85,736 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Rush Street Interactive by 47.3% in the second quarter. Renaissance Technologies LLC now owns 1,504,200 shares of the company’s stock worth $14,425,000 after purchasing an additional 482,872 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Rush Street Interactive by 157.9% during the second quarter. Assenagon Asset Management S.A. now owns 1,425,016 shares of the company’s stock worth $13,666,000 after purchasing an additional 872,367 shares during the period. Federated Hermes Inc. increased its holdings in Rush Street Interactive by 10.9% in 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 period. Finally, Driehaus Capital Management LLC purchased a new position in Rush Street Interactive during the 2nd quarter worth approximately $10,605,000. 24.78% of the stock is currently owned by hedge funds and other institutional investors.

Rush Street Interactive Price Performance

Shares of RSI opened at $11.01 on Friday. The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of -64.76 and a beta of 1.79. Rush Street Interactive has a 1 year low of $3.17 and a 1 year high of $11.59. The business’s 50 day simple moving average is $10.00 and its 200-day simple moving average is $9.09.

Rush Street Interactive (NYSE:RSI) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.06. Rush Street Interactive had a negative net margin of 0.84% and a negative return on equity of 12.45%. The company had revenue of $220.38 million for the quarter, compared to the consensus estimate of $201.37 million. During the same quarter in the prior year, the firm earned ($0.08) earnings per share. Rush Street Interactive’s revenue was up 33.5% on a year-over-year basis. On average, sell-side analysts expect that Rush Street Interactive will post -0.01 earnings per share for the current year.

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.