Rush Street Interactive (NYSE:RSI) Given New $9.00 Price Target at Wells Fargo & Company

Rush Street Interactive (NYSE:RSI) had its price target increased by Wells Fargo & Company from $8.00 to $9.00 in a research report released on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities analysts have also commented on the stock. Craig Hallum upgraded shares of Rush Street Interactive from a hold rating to a buy rating and increased their price target for the company from $7.00 to $8.00 in a research note on Friday, April 19th. JMP Securities reaffirmed a market perform rating on shares of Rush Street Interactive in a research note on Friday, March 8th. Susquehanna reaffirmed a neutral rating and issued a $6.00 price objective (up from $5.00) on shares of Rush Street Interactive in a research note on Monday, March 4th. Oppenheimer upped their price target on shares of 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 lifted their price objective on Rush Street Interactive from $8.00 to $9.00 and gave the stock a buy rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $8.33.

Rush Street Interactive Stock Performance

NYSE:RSI opened at $7.86 on Thursday. Rush Street Interactive has a 52 week low of $2.85 and a 52 week high of $8.38. The stock’s fifty day moving average is $6.28 and its two-hundred day moving average is $5.14.

Rush Street Interactive (NYSE:RSI) last issued its quarterly earnings results on Wednesday, March 6th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.01. The business had revenue of $193.85 million for the quarter, compared to analysts’ expectations of $181.50 million. Rush Street Interactive had a negative net margin of 1.58% and a negative return on equity of 15.68%. On average, equities research analysts anticipate that Rush Street Interactive will post -0.22 EPS for the current fiscal year.

Insider Transactions at Rush Street Interactive

In other Rush Street Interactive news, CEO Richard Todd Schwartz sold 101,951 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $6.78, for a total value of $691,227.78. Following the transaction, the chief executive officer now owns 2,154,618 shares in the company, valued at approximately $14,608,310.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Richard Todd Schwartz sold 101,951 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $6.78, for a total value of $691,227.78. Following the transaction, the chief executive officer now directly owns 2,154,618 shares in the company, valued at approximately $14,608,310.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Mattias Stetz sold 5,001 shares of the company’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $6.11, for a total transaction of $30,556.11. Following the transaction, the chief operating officer now owns 606,730 shares of the company’s stock, valued at $3,707,120.30. 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 ninety days. Corporate insiders own 56.96% of the company’s stock.

Hedge Funds Weigh In On Rush Street Interactive

Hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC bought a new stake in Rush Street Interactive in the third quarter valued at about $52,000. Allspring Global Investments Holdings LLC boosted its stake in Rush Street Interactive by 13,627.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 11,943 shares of the company’s stock worth $78,000 after purchasing an additional 11,856 shares in the last quarter. Aigen Investment Management LP bought a new stake in shares of Rush Street Interactive during the fourth quarter worth $90,000. North Star Investment Management Corp. increased its stake in shares of Rush Street Interactive by 303.9% in the first quarter. North Star Investment Management Corp. now owns 20,600 shares of the company’s stock valued at $134,000 after buying an additional 15,500 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in shares of 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 valued at $98,000 after buying an additional 19,058 shares during the last quarter. 24.78% of the stock is 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.