Craig Hallum Increases Rush Street Interactive (NYSE:RSI) Price Target to $10.00

Rush Street Interactive (NYSE:RSI) had its target price lifted by equities researchers at Craig Hallum from $8.00 to $10.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Craig Hallum’s target price suggests a potential upside of 27.23% from the company’s current price.

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

Rush Street Interactive Price Performance

RSI traded up $0.31 during mid-day trading on Thursday, hitting $7.86. The stock had a trading volume of 4,314,466 shares, compared to its average volume of 1,325,317. The stock’s fifty day simple moving average is $6.28 and its 200-day simple moving average is $5.13. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of -46.24 and a beta of 1.67. Rush Street Interactive has a 1-year low of $2.85 and a 1-year high of $8.38.

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

Insider Activity at Rush Street Interactive

In related news, CEO Richard Todd Schwartz sold 38,687 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $5.83, for a total transaction of $225,545.21. Following the sale, the chief executive officer now owns 2,256,569 shares of the company’s stock, valued at approximately $13,155,797.27. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Rush Street Interactive news, CEO Richard Todd Schwartz sold 38,687 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $5.83, for a total value of $225,545.21. Following the completion of the transaction, the chief executive officer now directly owns 2,256,569 shares in the company, valued at approximately $13,155,797.27. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Paul Wierbicki sold 22,743 shares of Rush Street Interactive stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $5.83, for a total value of $132,591.69. Following the completion of the transaction, the insider now directly owns 174,982 shares in the company, valued at $1,020,145.06. The disclosure for this sale can be found here. Insiders sold a total of 331,552 shares of company stock valued at $2,094,498 in the last quarter. Insiders own 56.96% of the company’s stock.

Hedge Funds Weigh In On Rush Street Interactive

A number of institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC increased its position in Rush Street Interactive by 4,395.9% in the 3rd quarter. FMR LLC now owns 1,888,355 shares of the company’s stock valued at $8,724,000 after buying an additional 1,846,353 shares in the last quarter. HG Vora Capital Management LLC boosted its holdings in Rush Street Interactive by 16.7% during the 4th quarter. HG Vora Capital Management LLC now owns 7,000,000 shares of the company’s stock worth $31,430,000 after acquiring an additional 1,000,000 shares during the last quarter. Nomura Holdings Inc. grew its position in Rush Street Interactive by 24.7% in the 4th quarter. Nomura Holdings Inc. now owns 4,184,373 shares of the company’s stock worth $18,788,000 after purchasing an additional 828,984 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Rush Street Interactive by 32.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,836,077 shares of the company’s stock valued at $8,483,000 after buying an additional 451,171 shares during the last quarter. Finally, PEAK6 Investments LLC lifted its position in shares of Rush Street Interactive by 387.2% during the 3rd quarter. PEAK6 Investments LLC now owns 309,765 shares of the company’s stock worth $1,431,000 after buying an additional 246,189 shares in the last quarter. 24.78% of the stock is currently owned by 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.