Benchmark Boosts Rush Street Interactive (NYSE:RSI) Price Target to $17.00

Rush Street Interactive (NYSE:RSI) had its price target hoisted by Benchmark from $14.00 to $17.00 in a research note issued to investors on Tuesday,Benzinga reports. Benchmark currently has a buy rating on the stock.

Several other research analysts have also commented on the stock. Wall Street Zen raised shares of Rush Street Interactive from a “buy” rating to a “strong-buy” rating in a report on Monday, June 9th. JPMorgan Chase & Co. initiated coverage on Rush Street Interactive in a research note on Monday, June 23rd. They issued a “neutral” rating and a $14.00 target price for the company. Macquarie reiterated an “outperform” rating and set a $16.00 price target on shares of Rush Street Interactive in a research report on Friday, May 2nd. Susquehanna raised their price target on Rush Street Interactive from $14.00 to $15.00 and gave the stock a “positive” rating in a report on Thursday, May 1st. Finally, Needham & Company LLC restated a “buy” rating and set a $17.00 price objective on shares of Rush Street Interactive in a research note on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Rush Street Interactive presently has a consensus rating of “Moderate Buy” and an average target price of $15.89.

Rush Street Interactive Trading Down 3.2%

Shares of NYSE RSI opened at $14.45 on Tuesday. The company has a market capitalization of $3.31 billion, a price-to-earnings ratio of 180.65 and a beta of 1.87. Rush Street Interactive has a twelve month low of $8.52 and a twelve month high of $16.78. The business has a 50 day simple moving average of $12.94 and a 200-day simple moving average of $12.91.

Rush Street Interactive (NYSE:RSI) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. Rush Street Interactive had a net margin of 0.87% and a return on equity of 7.35%. The firm had revenue of $262.41 million during the quarter, compared to the consensus estimate of $258.90 million. During the same quarter in the previous year, the company posted $0.03 earnings per share. The firm’s revenue was up 20.7% on a year-over-year basis. As a group, equities analysts predict that Rush Street Interactive will post 0.04 earnings per share for the current year.

Insider Transactions at Rush Street Interactive

In related news, CEO Richard Todd Schwartz sold 193,905 shares of the stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $10.63, for a total value of $2,061,210.15. Following the completion of the transaction, the chief executive officer directly owned 1,599,186 shares of the company’s stock, valued at $16,999,347.18. This represents a 10.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Einar Roosileht sold 70,000 shares of Rush Street Interactive stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $12.47, for a total value of $872,900.00. Following the sale, the insider directly owned 876,150 shares in the company, valued at $10,925,590.50. The trade was a 7.40% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,711,949 shares of company stock worth $22,540,667. Company insiders own 56.94% of the company’s stock.

Institutional Investors Weigh In On Rush Street Interactive

Hedge funds and other institutional investors have recently modified their holdings of the stock. Alliancebernstein L.P. increased its stake in Rush Street Interactive by 1,617.7% during the 1st quarter. Alliancebernstein L.P. now owns 6,133,759 shares of the company’s stock valued at $65,754,000 after buying an additional 5,776,660 shares during the period. Nuveen LLC bought a new position in shares of Rush Street Interactive in the first quarter valued at approximately $29,005,000. Price T Rowe Associates Inc. MD increased its stake in shares of Rush Street Interactive by 7,958.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,029,239 shares of the company’s stock valued at $27,843,000 after acquiring an additional 2,004,059 shares during the period. Topline Capital Management LLC acquired a new position in shares of Rush Street Interactive during the fourth quarter valued at approximately $24,851,000. Finally, William Blair Investment Management LLC bought a new stake in Rush Street Interactive during the fourth quarter worth approximately $21,635,000. 24.78% of the stock is currently 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.