Rush Street Interactive (NYSE:RSI) Lowered to Buy Rating by Wall Street Zen

Wall Street Zen lowered shares of Rush Street Interactive (NYSE:RSI) from a strong-buy rating to a buy rating in a research note published on Saturday morning.

Several other equities analysts also recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of Rush Street Interactive from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, October 16th. Oppenheimer reaffirmed an “outperform” rating and set a $24.00 price objective on shares of Rush Street Interactive in a research report on Thursday, October 30th. Jefferies Financial Group boosted their target price on Rush Street Interactive from $26.00 to $27.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Benchmark upped their price target on Rush Street Interactive from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday, September 8th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Rush Street Interactive in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $20.75.

Rush Street Interactive Price Performance

NYSE:RSI opened at $18.44 on Friday. Rush Street Interactive has a 12 month low of $9.54 and a 12 month high of $22.65. The firm has a market capitalization of $4.23 billion, a PE ratio of 73.76 and a beta of 1.86. The business’s fifty day moving average price is $18.62 and its 200 day moving average price is $17.27.

Rush Street Interactive (NYSE:RSI) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. The company had revenue of $277.91 million during the quarter, compared to the consensus estimate of $264.60 million. Rush Street Interactive had a return on equity of 17.11% and a net margin of 2.83%.Rush Street Interactive’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.05 EPS. Rush Street Interactive has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Rush Street Interactive will post 0.04 EPS for the current year.

Insiders Place Their Bets

In other Rush Street Interactive news, CFO Kyle Sauers sold 15,038 shares of the firm’s stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $22.34, for a total value of $335,948.92. Following the completion of the sale, the chief financial officer owned 418,651 shares of the company’s stock, valued at approximately $9,352,663.34. This trade represents a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Mattias Stetz sold 30,000 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $17.09, for a total transaction of $512,700.00. Following the transaction, the chief operating officer directly owned 194,806 shares in the company, valued at approximately $3,329,234.54. This trade represents a 13.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 826,753 shares of company stock valued at $16,018,954 in the last three months. 56.94% of the stock is owned by corporate insiders.

Institutional Trading of Rush Street Interactive

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Pacer Advisors Inc. grew its position in Rush Street Interactive by 94.7% during the first quarter. Pacer Advisors Inc. now owns 2,533 shares of the company’s stock worth $27,000 after buying an additional 1,232 shares during the period. Summit Securities Group LLC acquired a new stake in shares of Rush Street Interactive during the 1st quarter valued at approximately $33,000. Concord Wealth Partners purchased a new stake in shares of Rush Street Interactive during the 3rd quarter worth approximately $41,000. Farther Finance Advisors LLC acquired a new stake in shares of Rush Street Interactive in the 2nd quarter worth approximately $42,000. Finally, Osaic Holdings Inc. grew its holdings in shares of Rush Street Interactive by 62.2% in the 2nd quarter. Osaic Holdings Inc. now owns 4,872 shares of the company’s stock worth $73,000 after acquiring an additional 1,868 shares during the period. Institutional investors and hedge funds 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.