Rush Street Interactive, Inc. (RSI) – What Are Researchers Thinking About This Stock?

Shares of Rush Street Interactive, Inc. (NYSE:RSI) have been assigned a consensus rating of “Moderate Buy” from the sixteen brokerages that are currently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $26.46.

A number of equities analysts have commented on the stock. Oppenheimer dropped their target price on shares of Rush Street Interactive from $36.00 to $25.00 and set an “outperform” rating on the stock in a research note on Thursday, October 29th. Morgan Stanley initiated coverage on Rush Street Interactive in a research note on Monday, October 19th. They issued an “equal weight” rating and a $22.00 price objective on the stock. Needham & Company LLC reduced their price objective on Rush Street Interactive from $36.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, October 29th. New Street Research set a $35.00 target price on Rush Street Interactive in a research report on Thursday, July 23rd. Finally, Wall Street Zen upgraded Rush Street Interactive from a “hold” rating to a “buy” rating in a report on Saturday, October 31st.

Rush Street Interactive Stock Performance

NYSE:RSI opened at $12.28 on Friday. The firm has a market capitalization of $2.83 billion, a PE ratio of 37.22 and a beta of 1.80. The stock’s fifty day moving average is $19.28 and its 200 day moving average is $23.47. Rush Street Interactive has a fifty-two week low of $11.27 and a fifty-two week high of $34.53.

Rush Street Interactive (NYSE:RSI) last released its quarterly earnings results on Wednesday, October 28th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. The firm had revenue of $385.85 million during the quarter, compared to analysts’ expectations of $388.05 million. Rush Street Interactive had a net margin of 2.56% and a return on equity of 24.46%. The firm’s revenue for the quarter was up 38.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.09 EPS. Equities analysts forecast that Rush Street Interactive will post 0.49 EPS for the current year.

Insider Transactions at Rush Street Interactive

In other news, CFO Kyle Sauers sold 23,000 shares of the firm’s stock in a transaction on Monday, October 5th. The stock was sold at an average price of $20.31, for a total transaction of $467,130.00. Following the transaction, the chief financial officer owned 583,526 shares in the company, valued at approximately $11,851,413.06. This trade represents a 3.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Richard Schwartz sold 111,110 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $25.69, for a total transaction of $2,854,415.90. Following the completion of the sale, the chief executive officer owned 421,258 shares of the company’s stock, valued at approximately $10,822,118.02. This represents a 20.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 425,664 shares of company stock worth $9,480,199. Corporate insiders own 52.89% of the company’s stock.

Hedge Funds Weigh In On Rush Street Interactive

A number of large investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. acquired a new stake in Rush Street Interactive in the third quarter worth about $68,000. Voya Investment Management LLC boosted its position in Rush Street Interactive by 8.9% in the third quarter. Voya Investment Management LLC now owns 65,260 shares of the company’s stock valued at $1,327,000 after buying an additional 5,345 shares during the last quarter. Public Sector Pension Investment Board lifted its stake in Rush Street Interactive by 48.0% during the 3rd quarter. Public Sector Pension Investment Board now owns 529,275 shares of the company’s stock valued at $10,014,000 after acquiring an additional 171,618 shares during the period. Diversified Trust Co lifted its stake in Rush Street Interactive by 56.1% during the 3rd quarter. Diversified Trust Co now owns 52,051 shares of the company’s stock valued at $1,058,000 after acquiring an additional 18,697 shares during the period. Finally, Maryland State Retirement & Pension System increased its stake in shares of Rush Street Interactive by 69.6% in the third quarter. Maryland State Retirement & Pension System now owns 25,807 shares of the company’s stock worth $525,000 after acquiring an additional 10,589 shares during the period. 24.78% of the stock is currently owned by institutional investors.

Rush Street Interactive Company Profile

Rush Street Interactive, Inc. is an online gaming company that offers real-money online casino games and sports betting. Its consumer-facing brands include BetRivers and, in some markets, PlaySugarHouse. The company also offers free-to-play gaming products. Rush Street Interactive was established in 2012 as part of the Rush Street Gaming group and became a publicly traded company in 2020. It operates in regulated markets in the United States, Canada and Latin America, with the availability of its products varying by jurisdiction.