Rush Street Interactive, Inc. (NYSE:RSI) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Rush Street Interactive, Inc. (NYSE:RSI) have received an average recommendation of “Moderate Buy” from the nine ratings firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $15.63.

A number of analysts have issued reports on the stock. Susquehanna boosted their price target on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock a “positive” rating in a research note on Thursday, May 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $17.00 target price on shares of Rush Street Interactive in a research note on Thursday, May 1st. Macquarie reiterated an “outperform” rating and set a $16.00 target price on shares of Rush Street Interactive in a report on Friday. JMP Securities restated a “market perform” rating on shares of Rush Street Interactive in a research note on Monday, January 6th. Finally, Jefferies Financial Group increased their price objective on Rush Street Interactive from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th.

Rush Street Interactive Stock Performance

NYSE:RSI opened at $11.86 on Tuesday. Rush Street Interactive has a fifty-two week low of $7.91 and a fifty-two week high of $16.78. The company has a 50 day moving average price of $11.21 and a 200 day moving average price of $12.68. The stock has a market capitalization of $2.70 billion, a P/E ratio of -593.00 and a beta of 1.88.

Rush Street Interactive (NYSE:RSI) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The company had revenue of $262.41 million for the quarter, compared to analysts’ expectations of $258.90 million. Rush Street Interactive had a negative return on equity of 3.73% and a negative net margin of 0.16%. The firm’s revenue was up 20.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.03 earnings per share. Research analysts forecast that Rush Street Interactive will post 0.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Einar Roosileht sold 70,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $11.67, for a total transaction of $816,900.00. Following the completion of the sale, the insider now owns 946,150 shares in the company, valued at $11,041,570.50. The trade was a 6.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Mattias Stetz sold 24,467 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $11.57, for a total transaction of $283,083.19. Following the completion of the transaction, the chief operating officer now owns 396,584 shares in the company, valued at $4,588,476.88. This represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 750,225 shares of company stock valued at $8,587,086 in the last ninety days. Insiders own 56.89% of the company’s stock.

Institutional Investors Weigh In On Rush Street Interactive

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. R Squared Ltd acquired a new stake in shares of Rush Street Interactive during the fourth quarter worth about $28,000. Heck Capital Advisors LLC purchased a new stake in Rush Street Interactive in the fourth quarter valued at approximately $34,000. GAMMA Investing LLC boosted its holdings in shares of Rush Street Interactive by 1,687.6% in the first quarter. GAMMA Investing LLC now owns 6,507 shares of the company’s stock valued at $70,000 after acquiring an additional 6,143 shares during the period. WealthTrak Capital Management LLC purchased a new position in shares of Rush Street Interactive during the fourth quarter worth approximately $71,000. Finally, Lazard Asset Management LLC acquired a new position in shares of Rush Street Interactive in the 4th quarter valued at $95,000. 24.78% of the stock is owned by hedge funds and other 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.