Rush Street Interactive (NYSE:RSI) Given New $15.00 Price Target at Wells Fargo & Company

Rush Street Interactive (NYSE:RSI) had its price objective upped by equities researchers at Wells Fargo & Company from $14.00 to $15.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 28.64% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. Craig Hallum raised their price target on Rush Street Interactive from $14.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Jefferies Financial Group increased their target price on Rush Street Interactive from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. JMP Securities reaffirmed a “market perform” rating on shares of Rush Street Interactive in a report on Monday, January 6th. Needham & Company LLC reiterated a “buy” rating and set a $17.00 price target on shares of Rush Street Interactive in a research report on Thursday. Finally, Susquehanna raised 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 report on Tuesday. Two investment 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.50.

Rush Street Interactive Trading Up 3.5 %

Shares of Rush Street Interactive stock opened at $11.66 on Thursday. Rush Street Interactive has a 1-year low of $5.22 and a 1-year high of $16.78. The firm’s 50-day moving average price is $14.35 and its two-hundred day moving average price is $12.27. The stock has a market capitalization of $2.63 billion, a price-to-earnings ratio of -583.00 and a beta of 1.88.

Insider Buying and Selling at Rush Street Interactive

In related news, insider Paul Wierbicki sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $15.00, for a total transaction of $112,500.00. Following the completion of the sale, the insider now directly owns 139,387 shares of the company’s stock, valued at $2,090,805. The trade was a 5.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Richard Todd Schwartz sold 133,905 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $14.22, for a total transaction of $1,904,129.10. Following the completion of the transaction, the chief executive officer now owns 2,251,943 shares in the company, valued at $32,022,629.46. This represents a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 825,853 shares of company stock worth $11,655,336. Company insiders own 56.89% of the company’s stock.

Institutional Investors Weigh In On Rush Street Interactive

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Heck Capital Advisors LLC acquired a new position in shares of Rush Street Interactive during the 4th quarter worth about $34,000. Mackenzie Financial Corp acquired a new position in Rush Street Interactive during the fourth quarter valued at approximately $1,123,000. PharVision Advisers LLC acquired a new position in Rush Street Interactive during the fourth quarter valued at approximately $400,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Rush Street Interactive by 171.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 163,966 shares of the company’s stock valued at $2,250,000 after purchasing an additional 103,546 shares in the last quarter. Finally, Voloridge Investment Management LLC raised its holdings in Rush Street Interactive by 1,084.0% in the fourth quarter. Voloridge Investment Management LLC now owns 194,033 shares of the company’s stock worth $2,662,000 after purchasing an additional 177,645 shares during the period. 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.