Susquehanna Issues Positive Forecast for Rush Street Interactive (NYSE:RSI) Stock Price

Rush Street Interactive (NYSE:RSI) had its target price lifted by equities research analysts at Susquehanna from $12.00 to $14.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Susquehanna’s price objective suggests a potential upside of 5.94% from the stock’s current price.

Several other research firms also recently issued reports on RSI. Jefferies Financial Group increased their target price on Rush Street Interactive from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Needham & Company LLC increased their price objective on Rush Street Interactive from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, January 17th. JMP Securities restated a “market perform” rating on shares of Rush Street Interactive in a research note on Monday, January 6th. Finally, Craig Hallum upped their price target on Rush Street Interactive from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $15.33.

Rush Street Interactive Stock Down 3.3 %

NYSE RSI opened at $13.22 on Tuesday. The company’s 50 day moving average is $14.44 and its 200-day moving average is $12.22. The firm has a market cap of $2.98 billion, a P/E ratio of -660.75 and a beta of 1.88. Rush Street Interactive has a 12-month low of $5.22 and a 12-month high of $16.78.

Insider Buying and Selling

In related news, CEO Richard Todd Schwartz sold 45,256 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $13.51, for a total value of $611,408.56. Following the sale, the chief executive officer now directly owns 1,762,227 shares of the company’s stock, valued at $23,807,686.77. This trade represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Paul Wierbicki sold 7,500 shares of the company’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $15.00, for a total value of $112,500.00. Following the completion of the transaction, the insider now owns 139,387 shares of the company’s stock, valued at $2,090,805. The trade was a 5.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 825,853 shares of company stock worth $11,655,336 over the last ninety days. 56.89% of the stock is owned by corporate insiders.

Institutional Trading of Rush Street Interactive

Hedge funds have recently bought and sold shares of the company. Creative Planning bought a new position in Rush Street Interactive during the third quarter valued at approximately $180,000. New York State Teachers Retirement System grew its stake in shares of Rush Street Interactive by 17.2% in the third quarter. New York State Teachers Retirement System now owns 6,938 shares of the company’s stock worth $75,000 after purchasing an additional 1,020 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Rush Street Interactive by 656.2% during the 3rd quarter. Principal Financial Group Inc. now owns 77,658 shares of the company’s stock valued at $843,000 after purchasing an additional 67,388 shares during the period. Mesirow Financial Investment Management Inc. raised its position in Rush Street Interactive by 7.3% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 25,727 shares of the company’s stock valued at $279,000 after purchasing an additional 1,745 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in Rush Street Interactive during the 3rd quarter valued at approximately $1,795,000. 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.