Needham & Company LLC Issues Positive Forecast for Rush Street Interactive (NYSE:RSI) Stock Price

Rush Street Interactive (NYSE:RSI) had its price target increased by Needham & Company LLC from $14.00 to $15.00 in a research report released on Thursday, Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also issued reports on RSI. Wells Fargo & Company boosted their target price on shares of Rush Street Interactive from $11.00 to $13.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Craig Hallum boosted their target price on shares of Rush Street Interactive from $11.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Oppenheimer boosted their target price on shares of Rush Street Interactive from $10.00 to $14.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Rush Street Interactive presently 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 twelve month low of $3.56 and a twelve month high of $11.59. The stock has a market cap of $2.46 billion, a price-to-earnings ratio of -545.50 and a beta of 1.78. The company’s fifty day moving average is $10.29 and its 200 day moving average is $9.34.

Insider Activity

In other news, CEO Richard Todd Schwartz sold 40,498 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $10.18, for a total transaction of $412,269.64. Following the transaction, the chief executive officer now owns 1,862,997 shares in the company, valued at approximately $18,965,309.46. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Paul Wierbicki sold 20,437 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $9.53, for a total value of $194,764.61. Following the sale, the insider now owns 174,982 shares in the company, valued at $1,667,578.46. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Richard Todd Schwartz sold 40,498 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $10.18, for a total transaction of $412,269.64. Following the completion of the sale, the chief executive officer now owns 1,862,997 shares in the company, valued at $18,965,309.46. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 360,935 shares of company stock worth $3,395,534. Company insiders own 56.89% of the company’s stock.

Institutional Investors Weigh In On Rush Street Interactive

A number of institutional investors and hedge funds have recently made changes to their positions in the business. New York State Teachers Retirement System raised its holdings in shares of Rush Street Interactive by 17.2% in the 3rd quarter. New York State Teachers Retirement System now owns 6,938 shares of the company’s stock worth $75,000 after acquiring an additional 1,020 shares during the last quarter. Quarry LP raised its holdings in shares of Rush Street Interactive by 15.9% in the 2nd quarter. Quarry LP now owns 8,762 shares of the company’s stock worth $84,000 after acquiring an additional 1,200 shares during the last quarter. Mesirow Financial Investment Management Inc. raised its holdings in shares of Rush Street Interactive by 7.3% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 25,727 shares of the company’s stock worth $279,000 after acquiring an additional 1,745 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Rush Street Interactive by 25.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 28,645 shares of the company’s stock worth $275,000 after purchasing an additional 5,840 shares in the last quarter. Finally, CWM LLC grew its position in Rush Street Interactive by 425.6% in the 3rd quarter. CWM LLC now owns 9,209 shares of the company’s stock worth $100,000 after purchasing an additional 7,457 shares in the last quarter. Institutional investors and hedge funds 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.