Rush Street Interactive (NYSE:RSI) Price Target Raised to $17.00 at Needham & Company LLC

Rush Street Interactive (NYSE:RSI) had its target price increased by Needham & Company LLC from $15.00 to $17.00 in a report released on Friday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other research analysts have also weighed in on RSI. Jefferies Financial Group raised their price objective on shares of Rush Street Interactive from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday. Craig Hallum raised their target price on Rush Street Interactive from $14.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, JMP Securities reiterated a “market perform” rating on shares of Rush Street Interactive in a report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Rush Street Interactive presently has an average rating of “Moderate Buy” and an average target price of $14.00.

Rush Street Interactive Stock Up 0.6 %

Shares of NYSE:RSI opened at $15.02 on Friday. The stock’s 50 day moving average is $13.61 and its 200-day moving average is $11.25. Rush Street Interactive has a twelve month low of $4.45 and a twelve month high of $15.68. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of -751.20 and a beta of 1.88.

Insider Activity at Rush Street Interactive

In other Rush Street Interactive news, insider Einar Roosileht sold 48,968 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.04, for a total value of $687,510.72. Following the transaction, the insider now directly owns 830,292 shares in the company, valued at $11,657,299.68. The trade was a 5.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Wierbicki sold 7,500 shares of the 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 transaction, the insider now directly owns 139,387 shares of the company’s stock, valued at $2,090,805. This represents a 5.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 884,287 shares of company stock valued at $11,632,978. 56.89% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC increased its holdings in Rush Street Interactive by 5.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,736,259 shares of the company’s stock worth $18,843,000 after acquiring an additional 92,314 shares during the last quarter. State Street Corp boosted its position in Rush Street Interactive by 3.6% during the third quarter. State Street Corp now owns 1,612,892 shares of the company’s stock worth $17,500,000 after purchasing an additional 55,697 shares during the period. Renaissance Technologies LLC increased 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 in the last quarter. Driehaus Capital Management LLC bought a new stake in shares of Rush Street Interactive in the second quarter valued at approximately $10,605,000. Finally, Marshall Wace LLP lifted its stake in shares of Rush Street Interactive by 185.5% during the 2nd quarter. Marshall Wace LLP now owns 981,822 shares of the company’s stock valued at $9,416,000 after buying an additional 637,883 shares in the last quarter. Hedge funds and other 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.