Rush Street Interactive (NYSE:RSI) Price Target Raised to $15.00 at Needham & Company LLC

Rush Street Interactive (NYSE:RSI) had its price target lifted by Needham & Company LLC from $14.00 to $15.00 in a report published on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

RSI has been the topic of several other reports. Craig Hallum upped their price objective on Rush Street Interactive from $11.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Wells Fargo & Company increased their target price on shares of Rush Street Interactive from $11.00 to $13.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Finally, Oppenheimer upped their price objective on shares of Rush Street Interactive from $10.00 to $14.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Rush Street Interactive currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.43.

Rush Street Interactive Price Performance

Rush Street Interactive stock traded up $0.10 during mid-day trading on Thursday, reaching $10.92. The company had a trading volume of 537,500 shares, compared to its average volume of 1,596,116. Rush Street Interactive has a 52 week low of $3.56 and a 52 week high of $11.59. The company has a 50 day moving average of $10.26 and a 200-day moving average of $9.29.

Rush Street Interactive (NYSE:RSI) last issued 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 firm had revenue of $220.38 million during the quarter, compared to analysts’ expectations of $201.37 million. Rush Street Interactive had a negative return on equity of 3.82% and a negative net margin of 0.16%. Rush Street Interactive’s quarterly revenue was up 33.5% compared to the same quarter last year. During the same period last year, the business earned ($0.08) earnings per share. Analysts expect that Rush Street Interactive will post -0.01 EPS for the current year.

Insider Activity

In related news, insider Einar Roosileht sold 150,000 shares of Rush Street Interactive stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $9.09, for a total value of $1,363,500.00. Following the completion of the sale, the insider now directly owns 809,260 shares in the company, valued at $7,356,173.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Rush Street Interactive news, insider Einar Roosileht sold 150,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $9.09, for a total transaction of $1,363,500.00. Following the completion of the sale, the insider now owns 809,260 shares in the company, valued at approximately $7,356,173.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Richard Todd Schwartz sold 78,593 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $9.56, for a total value of $751,349.08. Following the completion of the transaction, the chief executive officer now owns 1,984,404 shares in the company, valued at $18,970,902.24. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 548,210 shares of company stock valued at $5,179,362. Company insiders own 56.89% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. boosted its position in shares of Rush Street Interactive by 656.2% during the third quarter. Principal Financial Group Inc. now owns 77,658 shares of the company’s stock worth $843,000 after purchasing an additional 67,388 shares in the last quarter. New York State Teachers Retirement System lifted its holdings in 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 worth $75,000 after acquiring an additional 1,020 shares in the last quarter. Precision Wealth Strategies LLC acquired a new position in Rush Street Interactive in the third quarter valued at about $349,000. OmniStar Financial Group Inc. increased its holdings in shares of Rush Street Interactive by 581.2% in the third quarter. OmniStar Financial Group Inc. now owns 80,862 shares of the company’s stock worth $877,000 after acquiring an additional 68,992 shares in the last quarter. Finally, nVerses Capital LLC acquired a new stake in shares of Rush Street Interactive during the third quarter worth about $148,000. 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.