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

Rush Street Interactive (NYSE:RSI) had its price target lifted by equities researchers at Needham & Company LLC from $15.00 to $17.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s target price points to a potential upside of 14.06% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. 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 research note on Wednesday. JMP Securities reissued a “market perform” rating on shares of Rush Street Interactive in a research report on Monday, January 6th. Finally, Craig Hallum raised their price target on shares of Rush Street Interactive from $14.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Rush Street Interactive presently has a consensus rating of “Moderate Buy” and an average target price of $14.00.

Rush Street Interactive Trading Down 1.6 %

Shares of NYSE:RSI opened at $14.91 on Friday. The business has a fifty day simple moving average of $13.53 and a 200 day simple moving average of $11.21. Rush Street Interactive has a 1 year low of $3.85 and a 1 year high of $15.68. The firm has a market cap of $3.36 billion, a price-to-earnings ratio of -745.25 and a beta of 1.88.

Insiders Place Their Bets

In related news, insider Paul Wierbicki sold 35,000 shares of Rush Street Interactive stock in a transaction on Monday, November 11th. The shares were sold at an average price of $11.23, for a total value of $393,050.00. Following the transaction, the insider now owns 139,982 shares in the company, valued at $1,571,997.86. This trade represents a 20.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Richard Todd Schwartz sold 4,419 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $32,898,071.25. This trade represents a 0.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 884,287 shares of company stock valued at $11,632,978 over the last 90 days. 56.89% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Rush Street Interactive in the third quarter worth $44,000. Point72 DIFC Ltd bought a new stake in Rush Street Interactive in the 3rd quarter valued at $70,000. New York State Teachers Retirement System increased its holdings in shares of Rush Street Interactive by 17.2% during the 3rd quarter. New York State Teachers Retirement System now owns 6,938 shares of the company’s stock worth $75,000 after purchasing an additional 1,020 shares during the period. Quarry LP raised its position in shares of Rush Street Interactive by 15.9% during the second quarter. Quarry LP now owns 8,762 shares of the company’s stock valued at $84,000 after buying an additional 1,200 shares during the last quarter. Finally, CWM LLC lifted its stake in shares of Rush Street Interactive by 425.6% in the third quarter. CWM LLC now owns 9,209 shares of the company’s stock valued at $100,000 after buying an additional 7,457 shares during the period. 24.78% of the stock is owned by institutional investors.

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.