Rush Street Interactive (NYSE:RSI) Earns Buy Rating from Needham & Company LLC

Rush Street Interactive (NYSE:RSI)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a research note issued on Thursday,Benzinga reports. They currently have a $17.00 price objective on the stock. Needham & Company LLC’s price objective suggests a potential upside of 28.10% from the stock’s previous close.

Several other research analysts have also recently issued reports on RSI. Craig Hallum increased their price objective on Rush Street Interactive from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. JMP Securities reissued a “market perform” rating on shares of Rush Street Interactive in a research report on Monday, January 6th. Susquehanna lifted their price objective on Rush Street Interactive from $12.00 to $14.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Jefferies Financial Group upped their price objective on shares of Rush Street Interactive from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $15.33.

Rush Street Interactive Price Performance

Shares of RSI stock opened at $13.27 on Thursday. The company has a market capitalization of $3.00 billion, a P/E ratio of -663.55 and a beta of 1.88. The company’s 50-day simple moving average is $14.43 and its two-hundred day simple moving average is $12.26. Rush Street Interactive has a one year low of $5.22 and a one year high of $16.78.

Insider Transactions at Rush Street Interactive

In other news, COO Mattias Stetz sold 25,000 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $14.50, for a total transaction of $362,500.00. Following the completion of the sale, the chief operating officer now owns 550,484 shares in the company, valued at approximately $7,982,018. This represents a 4.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Richard Todd Schwartz sold 133,905 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $14.22, for a total value of $1,904,129.10. Following the transaction, the chief executive officer now owns 2,251,943 shares in the company, valued at approximately $32,022,629.46. This trade represents a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 825,853 shares of company stock valued at $11,655,336. Corporate insiders own 56.89% of the company’s stock.

Institutional Investors Weigh In On Rush Street Interactive

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RSI. R Squared Ltd acquired a new position in shares of Rush Street Interactive during the fourth quarter valued at about $28,000. Heck Capital Advisors LLC purchased a new stake in Rush Street Interactive during the 4th quarter worth approximately $34,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Rush Street Interactive during the 3rd quarter valued at approximately $44,000. WealthTrak Capital Management LLC purchased a new position in shares of Rush Street Interactive in the fourth quarter worth $71,000. Finally, Point72 DIFC Ltd purchased a new position in shares of Rush Street Interactive in the third quarter worth $70,000. 24.78% of the stock is currently owned by hedge funds and other 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.