Rush Street Interactive (NYSE:RSI) Price Target Raised to $10.00 at Oppenheimer

Rush Street Interactive (NYSE:RSI) had its price target raised by Oppenheimer from $9.00 to $10.00 in a report published on Thursday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

RSI has been the subject of a number of other reports. Wells Fargo & Company increased their price target on Rush Street Interactive from $7.00 to $8.00 and gave the company an overweight rating in a research note on Thursday, March 7th. Susquehanna reaffirmed a neutral rating and set a $6.00 target price (up from $5.00) on shares of Rush Street Interactive in a report on Monday, March 4th. JMP Securities reiterated a market perform rating on shares of Rush Street Interactive in a research report on Friday, March 8th. Craig Hallum upgraded shares of Rush Street Interactive from a hold rating to a buy rating and raised their price objective for the company from $7.00 to $8.00 in a research report on Friday, April 19th. Finally, Needham & Company LLC lifted their price objective on shares of Rush Street Interactive from $8.00 to $9.00 and gave the stock a buy rating in a research note on Thursday. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $8.33.

Rush Street Interactive Trading Up 4.1 %

RSI stock traded up $0.31 during trading on Thursday, hitting $7.86. The company had a trading volume of 4,314,466 shares, compared to its average volume of 1,325,317. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of -46.24 and a beta of 1.67. The business has a 50 day moving average of $6.28 and a 200 day moving average of $5.13. Rush Street Interactive has a fifty-two week low of $2.85 and a fifty-two week high of $8.38.

Rush Street Interactive (NYSE:RSI) last issued its quarterly earnings results on Wednesday, March 6th. The company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. The company had revenue of $193.85 million during the quarter, compared to analyst estimates of $181.50 million. Rush Street Interactive had a negative net margin of 1.58% and a negative return on equity of 15.85%. As a group, equities analysts predict that Rush Street Interactive will post -0.22 EPS for the current year.

Insider Activity at Rush Street Interactive

In other Rush Street Interactive news, CEO Richard Todd Schwartz sold 23,737 shares of the business’s stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $6.11, for a total transaction of $145,033.07. Following the sale, the chief executive officer now owns 2,062,997 shares in the company, valued at approximately $12,604,911.67. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Richard Todd Schwartz sold 23,737 shares of the firm’s stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $6.11, for a total value of $145,033.07. Following the completion of the transaction, the chief executive officer now owns 2,062,997 shares of the company’s stock, valued at approximately $12,604,911.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Mattias Stetz sold 88,431 shares of Rush Street Interactive stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $6.42, for a total transaction of $567,727.02. Following the transaction, the chief operating officer now owns 603,614 shares in the company, valued at $3,875,201.88. The disclosure for this sale can be found here. Insiders sold 331,552 shares of company stock worth $2,094,498 in the last quarter. 56.96% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. SG Americas Securities LLC acquired a new stake in Rush Street Interactive during the 3rd quarter worth about $52,000. Allspring Global Investments Holdings LLC boosted its holdings 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 during the period. Aigen Investment Management LP purchased a new position in Rush Street Interactive during the fourth quarter valued at approximately $90,000. Tower Research Capital LLC TRC increased its stake in Rush Street Interactive by 665.2% in the 4th 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 period. Finally, Fox Run Management L.L.C. purchased a new stake in Rush Street Interactive in the 3rd quarter worth approximately $107,000. 24.78% of the stock is owned by institutional investors and hedge funds.

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.