Benchmark Increases Rush Street Interactive (NYSE:RSI) Price Target to $14.00

Rush Street Interactive (NYSE:RSI) had its target price increased by analysts at Benchmark from $12.00 to $14.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Benchmark’s price target suggests a potential upside of 20.74% from the company’s current price.

A number of other equities analysts also recently weighed in on the company. Needham & Company LLC restated a “buy” rating and issued a $17.00 target price on shares of Rush Street Interactive in a research note on Thursday. JMP Securities restated a “market perform” rating on shares of Rush Street Interactive in a research report on Monday, January 6th. Craig Hallum upped their price target on shares of Rush Street Interactive from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Wells Fargo & Company increased their target price on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Susquehanna increased their target price on shares of Rush Street Interactive from $12.00 to $14.00 and gave the stock a “neutral” rating in a report on Tuesday. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Rush Street Interactive has a consensus rating of “Moderate Buy” and an average price target of $15.50.

Rush Street Interactive Stock Performance

NYSE RSI traded up $0.33 during trading hours on Friday, hitting $11.60. 1,093,742 shares of the company traded hands, compared to its average volume of 2,099,784. The business’s 50-day moving average is $14.39 and its 200-day moving average is $12.25. Rush Street Interactive has a twelve month low of $5.22 and a twelve month high of $16.78. The stock has a market capitalization of $2.62 billion, a price-to-earnings ratio of -580.25 and a beta of 1.88.

Insider Transactions at Rush Street Interactive

In related news, CEO Richard Todd Schwartz sold 4,419 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $13.75, for a total value of $60,761.25. Following the completion of the sale, the chief executive officer now owns 2,392,587 shares of the company’s stock, valued at approximately $32,898,071.25. This trade represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Einar Roosileht sold 48,968 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $14.04, for a total value of $687,510.72. Following the sale, the insider now directly owns 830,292 shares of the company’s stock, valued at approximately $11,657,299.68. This trade represents a 5.57 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 825,853 shares of company stock valued at $11,655,336. Company insiders own 56.89% of the company’s stock.

Institutional Trading of Rush Street Interactive

Institutional investors have recently bought and sold shares of the business. Heck Capital Advisors LLC acquired a new position in Rush Street Interactive in the 4th quarter valued at about $34,000. Mackenzie Financial Corp purchased a new stake in Rush Street Interactive in the 4th quarter valued at approximately $1,123,000. PharVision Advisers LLC purchased a new position in shares of Rush Street Interactive during the 4th quarter worth $400,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Rush Street Interactive by 171.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 163,966 shares of the company’s stock worth $2,250,000 after buying an additional 103,546 shares during the last quarter. Finally, Voloridge Investment Management LLC increased its holdings in shares of Rush Street Interactive by 1,084.0% during the 4th quarter. Voloridge Investment Management LLC now owns 194,033 shares of the company’s stock worth $2,662,000 after buying an additional 177,645 shares during the last quarter. 24.78% of the stock is owned by hedge funds and other 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.