Rush Street Interactive (NYSE:RSI) Given New $10.00 Price Target at Craig Hallum

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

Several other equities analysts also recently commented on RSI. Wells Fargo & Company upped their price target on shares of Rush Street Interactive from $8.00 to $9.00 and gave the company an overweight rating in a report on Thursday. Susquehanna reaffirmed a neutral rating and set a $6.00 target price (up previously from $5.00) on shares of Rush Street Interactive in a research note on Monday, March 4th. JMP Securities reissued a market perform rating on shares of Rush Street Interactive in a research note on Friday, March 8th. Oppenheimer boosted their price objective on Rush Street Interactive from $9.00 to $10.00 and gave the company an outperform rating in a report on Thursday. Finally, Needham & Company LLC increased their target price on Rush Street Interactive from $8.00 to $9.00 and gave the stock a buy rating in a research note on Thursday. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $8.33.

Rush Street Interactive Price 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 has a market cap of $1.75 billion, a price-to-earnings ratio of -46.24 and a beta of 1.67. 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 1 year low of $2.85 and a 1 year high of $8.38.

Rush Street Interactive (NYSE:RSI) last posted its quarterly earnings data on Wednesday, March 6th. The company reported ($0.08) 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 company had revenue of $193.85 million during the quarter, compared to analyst estimates of $181.50 million. As a group, analysts anticipate that Rush Street Interactive will post -0.22 EPS for the current year.

Insider Buying and Selling

In other Rush Street Interactive news, CEO Richard Todd Schwartz sold 38,687 shares of Rush Street Interactive 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 completion of the sale, the chief executive officer now directly owns 2,256,569 shares of the company’s stock, valued at approximately $13,155,797.27. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Paul Wierbicki sold 22,743 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 $132,591.69. Following the completion of the sale, the insider now owns 174,982 shares of the company’s stock, valued at approximately $1,020,145.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard Todd Schwartz sold 38,687 shares of Rush Street Interactive stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $5.83, for a total transaction of $225,545.21. Following the transaction, the chief executive officer now directly owns 2,256,569 shares in the company, valued at $13,155,797.27. 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. 56.96% of the stock is owned by corporate insiders.

Institutional Trading of Rush Street Interactive

Hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new position in shares of Rush Street Interactive in the 3rd quarter valued at $52,000. Allspring Global Investments Holdings LLC boosted its position in Rush Street Interactive by 13,627.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 11,943 shares of the company’s stock valued at $78,000 after purchasing an additional 11,856 shares in the last quarter. Aigen Investment Management LP purchased a new position in Rush Street Interactive in the fourth quarter valued at about $90,000. Tower Research Capital LLC TRC raised its holdings in Rush Street Interactive by 665.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 21,923 shares of the company’s stock worth $98,000 after purchasing an additional 19,058 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Rush Street Interactive during the third quarter valued at about $107,000. Hedge funds and other institutional investors own 24.78% of the company’s stock.

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.