Macquarie Reiterates Outperform Rating for Rush Street Interactive (NYSE:RSI)

Macquarie reiterated their outperform rating on shares of Rush Street Interactive (NYSE:RSI) in a research report report published on Thursday,Benzinga reports. The firm currently has a $16.00 target price on the stock.

Other research analysts have also issued reports about the stock. Wells Fargo & Company upped their target price on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company an “overweight” rating in a report on Thursday. Craig Hallum boosted their price objective on shares of Rush Street Interactive from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Needham & Company LLC restated a “buy” rating and set a $17.00 target price on shares of Rush Street Interactive in a research report on Thursday. Jefferies Financial Group boosted their price target 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 increased their price target on Rush Street Interactive from $12.00 to $14.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $15.50.

Rush Street Interactive Stock Up 3.5 %

NYSE RSI opened at $11.66 on Thursday. Rush Street Interactive has a fifty-two week low of $5.22 and a fifty-two week high of $16.78. The business has a fifty day moving average of $14.35 and a 200-day moving average of $12.29. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of -583.00 and a beta of 1.88.

Insider Activity

In other Rush Street Interactive news, insider Einar Roosileht sold 48,968 shares of the company’s stock in a transaction that occurred on 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 $11,657,299.68. This represents a 5.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard Todd Schwartz sold 4,419 shares of Rush Street Interactive stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $13.75, for a total transaction of $60,761.25. Following the sale, the chief executive officer now owns 2,392,587 shares in the company, valued at $32,898,071.25. This represents a 0.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 825,853 shares of company stock valued at $11,655,336 in the last ninety days. Company insiders own 56.89% of the company’s stock.

Institutional Investors Weigh In On Rush Street Interactive

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RSI. Creative Planning purchased a new position in Rush Street Interactive in the 3rd quarter valued at about $180,000. New York State Teachers Retirement System boosted its holdings in Rush Street Interactive by 17.2% in the third quarter. New York State Teachers Retirement System now owns 6,938 shares of the company’s stock valued at $75,000 after purchasing an additional 1,020 shares during the last quarter. Principal Financial Group Inc. grew its stake in Rush Street Interactive by 656.2% during the 3rd quarter. Principal Financial Group Inc. now owns 77,658 shares of the company’s stock valued at $843,000 after purchasing an additional 67,388 shares in the last quarter. Mesirow Financial Investment Management Inc. increased its holdings in 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 purchasing an additional 1,745 shares during the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in Rush Street Interactive during the 3rd quarter worth approximately $1,795,000. 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.