Rush Street Interactive (NYSE:RSI) PT Raised to $10.00 at Craig Hallum

Rush Street Interactive (NYSE:RSI) had its price target boosted by Craig Hallum from $8.00 to $10.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also recently issued reports about the company. Wells Fargo & Company boosted their target price on Rush Street Interactive from $8.00 to $9.00 and gave the stock an overweight rating in a research note on Thursday. JMP Securities restated a market perform rating on shares of Rush Street Interactive in a research note on Friday, March 8th. Susquehanna reiterated a neutral rating and set a $6.00 price target (up previously from $5.00) on shares of Rush Street Interactive in a report on Monday, March 4th. Needham & Company LLC raised their price objective on shares of Rush Street Interactive from $8.00 to $9.00 and gave the company a buy rating in a report on Thursday. Finally, Oppenheimer lifted their price target on Rush Street Interactive from $9.00 to $10.00 and gave the stock an outperform rating in a report on Thursday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $8.33.

Rush Street Interactive Stock Performance

Shares of Rush Street Interactive stock traded up $0.31 on Thursday, reaching $7.86. The company had a trading volume of 4,314,466 shares, compared to its average volume of 1,325,317. The firm’s 50 day moving average price is $6.28 and its two-hundred day moving average price is $5.13. Rush Street Interactive has a 52-week low of $2.85 and a 52-week high of $8.38. The firm has a market cap of $1.75 billion, a PE ratio of -46.24 and a beta of 1.67.

Rush Street Interactive (NYSE:RSI) last issued its quarterly earnings results on Wednesday, March 6th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.01. Rush Street Interactive had a negative net margin of 1.58% and a negative return on equity of 15.85%. The business had revenue of $193.85 million for the quarter, compared to analysts’ expectations of $181.50 million. As a group, sell-side analysts predict that Rush Street Interactive will post -0.22 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Richard Todd Schwartz sold 23,737 shares of the stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $6.11, for a total value of $145,033.07. Following the completion of the sale, the chief executive officer now directly owns 2,062,997 shares of the company’s stock, valued at $12,604,911.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Paul Wierbicki sold 22,743 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $5.83, for a total transaction of $132,591.69. Following the transaction, the insider now owns 174,982 shares of the company’s stock, valued at $1,020,145.06. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Richard Todd Schwartz sold 23,737 shares of the business’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $6.11, for a total value of $145,033.07. Following the completion of the transaction, the chief executive officer now owns 2,062,997 shares in the company, valued at approximately $12,604,911.67. The disclosure for this sale can be found here. Insiders have sold a total of 331,552 shares of company stock valued at $2,094,498 over the last quarter. Company insiders own 56.96% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC raised its stake in shares of Rush Street Interactive by 33.2% during the fourth quarter. SG Americas Securities LLC now owns 15,108 shares of the company’s stock worth $68,000 after purchasing an additional 3,764 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Rush Street Interactive by 13,627.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,943 shares of the company’s stock valued at $78,000 after buying an additional 11,856 shares during the period. North Star Investment Management Corp. raised its position in Rush Street Interactive by 303.9% during the 1st quarter. North Star Investment Management Corp. now owns 20,600 shares of the company’s stock worth $134,000 after buying an additional 15,500 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Rush Street Interactive by 665.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 21,923 shares of the company’s stock worth $98,000 after acquiring an additional 19,058 shares during the period. Finally, Aigen Investment Management LP purchased a new stake in shares of Rush Street Interactive in the fourth quarter valued at about $90,000. 24.78% of the stock is currently owned by hedge funds and other institutional investors.

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.