Rush Street Interactive, Inc. (NYSE:RSI) Stock Has Average Price Target of $34.20

Shares of Rush Street Interactive, Inc. (NYSE:RSI) have been assigned a consensus recommendation of “Moderate Buy” from the fifteen analysts that are covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $33.09.

A number of brokerages have recently issued reports on RSI. Wells Fargo & Company lifted their price objective on shares of Rush Street Interactive from $35.00 to $36.00 and gave the company an “overweight” rating in a report on Thursday, July 30th. New Street Research set a $35.00 target price on shares of Rush Street Interactive in a research report on Thursday, July 23rd. Stifel Nicolaus began coverage on shares of Rush Street Interactive in a report on Monday, September 21st. They issued a “buy” rating and a $34.00 target price on the stock. Needham & Company LLC raised their price target on shares of Rush Street Interactive from $33.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Finally, Citizens Jmp reiterated a “market outperform” rating and set a $34.00 price target on shares of Rush Street Interactive in a research note on Tuesday, September 22nd.

Insider Buying and Selling

In related news, CEO Richard Schwartz sold 111,112 shares of Rush Street Interactive stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $28.02, for a total transaction of $3,113,358.24. Following the sale, the chief executive officer directly owned 421,258 shares in the company, valued at approximately $11,803,649.16. This trade represents a 20.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Mattias Stetz sold 20,000 shares of Rush Street Interactive stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $25.68, for a total value of $513,600.00. Following the sale, the chief operating officer owned 157,874 shares in the company, valued at $4,054,204.32. The trade was a 11.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 603,998 shares of company stock worth $14,814,268. 52.89% of the stock is owned by insiders.

Hedge Funds Weigh In On Rush Street Interactive

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RSI. GSA Capital Partners LLP bought a new position in shares of Rush Street Interactive during the 2nd quarter valued at about $1,996,000. Quantinno Capital Management LP bought a new stake in Rush Street Interactive in the 1st quarter worth approximately $1,769,000. BlackRock Inc. bought a new stake in Rush Street Interactive in the 2nd quarter worth approximately $448,435,000. Bank of America Corp DE bought a new stake in Rush Street Interactive in the 2nd quarter worth approximately $34,015,000. Finally, Tidal Investments LLC purchased a new stake in Rush Street Interactive in the second quarter worth approximately $1,323,000. Institutional investors own 24.78% of the company’s stock.

Rush Street Interactive Trading Down 2.8%

Shares of RSI opened at $18.00 on Tuesday. The firm’s fifty day simple moving average is $23.28 and its two-hundred day simple moving average is $26.13. Rush Street Interactive has a 12 month low of $15.51 and a 12 month high of $34.53. The stock has a market capitalization of $4.17 billion, a P/E ratio of 62.09 and a beta of 1.71.

Rush Street Interactive (NYSE:RSI) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.15 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.15. The firm had revenue of $393.78 million for the quarter, compared to analyst estimates of $367.75 million. Rush Street Interactive had a return on equity of 18.88% and a net margin of 2.33%. The company’s revenue was up 46.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.11 earnings per share. As a group, research analysts predict that Rush Street Interactive will post 0.49 EPS for the current fiscal year.

About Rush Street Interactive

Rush Street Interactive, Inc is an online gaming and sports betting company that operates regulated internet casino and sportsbook platforms. Its primary consumer brands include BetRivers, PlaySugarHouse and RushBet, offering online casino games, sports wagering and related digital gaming products through websites and mobile applications.

The company serves customers in regulated markets across the United States and Latin America, with operations also extending to select international jurisdictions.