Rush Street Interactive (NYSE:RSI) Stock Price Expected to Rise, Craig Hallum Analyst Says

Rush Street Interactive (NYSE:RSI) had its price target upped by Craig Hallum from $14.00 to $17.00 in a research note issued to investors on Thursday, Benzinga reports. Craig Hallum currently has a buy rating on the stock.

Several other equities analysts have also recently commented on RSI. Oppenheimer raised their price target on shares of Rush Street Interactive from $10.00 to $14.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Wells Fargo & Company increased their target price on 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 shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Jefferies Financial Group raised their price objective on Rush Street Interactive from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Rush Street Interactive currently has a consensus rating of “Moderate Buy” and an average target price of $12.43.

Rush Street Interactive Stock Up 0.8 %

Shares of Rush Street Interactive stock opened at $10.91 on Thursday. Rush Street Interactive has a 52 week low of $3.56 and a 52 week high of $11.59. The business’s fifty day simple moving average is $10.29 and its 200-day simple moving average is $9.34.

Rush Street Interactive (NYSE:RSI) last posted its earnings results on Wednesday, July 31st. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.06. The firm had revenue of $220.38 million during the quarter, compared to the consensus estimate of $201.37 million. Rush Street Interactive had a negative net margin of 0.16% and a negative return on equity of 3.82%. The firm’s revenue for the quarter was up 33.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.08) EPS. As a group, sell-side analysts expect that Rush Street Interactive will post -0.01 EPS for the current year.

Insider Buying and Selling at Rush Street Interactive

In other news, insider Einar Roosileht sold 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was 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 $7,356,173.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Rush Street Interactive news, insider Einar Roosileht sold 150,000 shares of the business’s 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 transaction, the insider now directly owns 809,260 shares of the company’s stock, valued at approximately $7,356,173.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Paul Wierbicki sold 20,437 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $9.53, for a total transaction of $194,764.61. Following the completion of the sale, the insider now owns 174,982 shares of the company’s stock, valued at $1,667,578.46. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 548,210 shares of company stock worth $5,179,362. 56.89% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Rush Street Interactive

A number of institutional investors have recently added to or reduced their stakes in RSI. Vanguard Group Inc. raised its stake in shares of Rush Street Interactive by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 5,481,219 shares of the company’s stock worth $35,683,000 after buying an additional 85,736 shares in the last quarter. SG Americas Securities LLC acquired a new position in Rush Street Interactive during the second quarter worth $1,565,000. Acadian Asset Management LLC purchased a new position in Rush Street Interactive in the second quarter worth $587,000. Driehaus Capital Management LLC acquired a new stake in Rush Street Interactive in the second quarter valued at $10,605,000. Finally, Millennium Management LLC boosted its position in shares of Rush Street Interactive by 378.4% during the 2nd quarter. Millennium Management LLC now owns 620,552 shares of the company’s stock worth $5,951,000 after purchasing an additional 490,831 shares in the last quarter. Hedge funds and other 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.