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

Rush Street Interactive (NYSE:RSI) had its target price upped by equities researchers at Wells Fargo & Company from $8.00 to $9.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 18.11% from the stock’s previous close.

Several other analysts have also issued reports on RSI. Craig Hallum upgraded shares of Rush Street Interactive from a “hold” rating to a “buy” rating and lifted their target price for the company from $7.00 to $8.00 in a research report 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 restated a “neutral” rating and issued a $6.00 price objective (up previously from $5.00) on shares of Rush Street Interactive in a report on Monday, March 4th. Needham & Company LLC upped their price objective on shares of Rush Street Interactive from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Oppenheimer raised their target price on shares of Rush Street Interactive from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Thursday. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $8.00.

Rush Street Interactive Trading Up 18.7 %

Shares of Rush Street Interactive stock traded up $1.20 during trading hours on Thursday, reaching $7.62. The stock had a trading volume of 1,942,227 shares, compared to its average volume of 1,207,440. Rush Street Interactive has a twelve month low of $2.85 and a twelve month high of $8.38. The firm has a market capitalization of $1.70 billion, a PE ratio of -28.56 and a beta of 1.67. The stock’s 50 day moving average is $6.17 and its 200 day moving average is $5.07.

Rush Street Interactive (NYSE:RSI) last issued its quarterly earnings data on Wednesday, March 6th. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.01. The company had revenue of $193.85 million for the quarter, compared to analyst estimates of $181.50 million. Rush Street Interactive had a negative return on equity of 28.95% and a negative net margin of 2.65%. As a group, sell-side analysts predict that Rush Street Interactive will post -0.22 earnings per share for the current year.

Insider Activity at Rush Street Interactive

In other Rush Street Interactive news, insider Paul Wierbicki sold 22,743 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $5.83, for a total transaction of $132,591.69. Following the completion of the sale, the insider now owns 174,982 shares of the company’s stock, valued at $1,020,145.06. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Richard Todd Schwartz sold 101,951 shares of Rush Street Interactive 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 completion of the sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Wierbicki sold 22,743 shares of the business’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 directly owns 174,982 shares in the company, valued at approximately $1,020,145.06. The disclosure for this sale can be found here. Over the last three months, insiders have sold 331,552 shares of company stock worth $2,094,498. Insiders own 56.96% of the company’s stock.

Institutional Investors Weigh In On Rush Street Interactive

Institutional investors have recently modified their holdings of the company. SG Americas Securities LLC purchased a new position in Rush Street Interactive during the 3rd quarter valued at about $52,000. Allspring Global Investments Holdings LLC lifted its position in shares of 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 worth $78,000 after purchasing an additional 11,856 shares in the last quarter. Aigen Investment Management LP purchased a new position in shares of Rush Street Interactive in the fourth quarter valued at approximately $90,000. Tower Research Capital LLC TRC increased its stake in Rush Street Interactive by 665.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 21,923 shares of the company’s stock worth $98,000 after buying an additional 19,058 shares during the period. Finally, Fox Run Management L.L.C. acquired a new stake in Rush Street Interactive during the 3rd quarter worth approximately $107,000. 24.78% of the stock is owned by institutional investors and hedge funds.

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.