Rush Street Interactive (NYSE:RSI) Reaches New 52-Week High After Analyst Upgrade

Rush Street Interactive, Inc. (NYSE:RSI) shares hit a new 52-week high on Thursday after Craig Hallum raised their price target on the stock from $8.00 to $10.00. Craig Hallum currently has a buy rating on the stock. Rush Street Interactive traded as high as $8.38 and last traded at $7.55, with a volume of 1319071 shares trading hands. The stock had previously closed at $6.42.

Several other research firms have also recently weighed in on RSI. Needham & Company LLC lifted their price objective on Rush Street Interactive from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Thursday. JMP Securities restated a “market perform” rating on shares of Rush Street Interactive in a research report on Friday, March 8th. Oppenheimer upped their price target on Rush Street Interactive from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Thursday. Wells Fargo & Company raised their price objective on Rush Street Interactive from $8.00 to $9.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Susquehanna reaffirmed a “neutral” rating and issued a $6.00 target price (up from $5.00) on shares of Rush Street Interactive in a research report on Monday, March 4th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Rush Street Interactive currently has an average rating of “Moderate Buy” and an average target price of $8.33.

Insider Transactions at Rush Street Interactive

In related news, CFO Kyle Sauers sold 21,362 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $5.83, for a total transaction of $124,540.46. Following the completion of the transaction, the chief financial officer now owns 536,936 shares of the company’s stock, valued at approximately $3,130,336.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Kyle Sauers sold 21,362 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $5.83, for a total value of $124,540.46. Following the transaction, the chief financial officer now owns 536,936 shares in the company, valued at approximately $3,130,336.88. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Mattias Stetz sold 5,001 shares of the stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $6.11, for a total transaction of $30,556.11. Following the sale, the chief operating officer now directly owns 606,730 shares in the company, valued at $3,707,120.30. The disclosure for this sale can be found here. Insiders have sold a total of 331,552 shares of company stock valued at $2,094,498 in the last ninety days. 56.96% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rush Street Interactive

Institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in Rush Street Interactive in the 3rd quarter valued at approximately $52,000. Allspring Global Investments Holdings LLC lifted 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 valued at $78,000 after purchasing an additional 11,856 shares in the last quarter. Aigen Investment Management LP bought a new position in shares of Rush Street Interactive during the fourth quarter valued at $90,000. Tower Research Capital LLC TRC boosted its position in shares of Rush Street Interactive by 665.2% during the fourth 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 last quarter. Finally, Fox Run Management L.L.C. bought a new stake in Rush Street Interactive in the 3rd quarter worth about $107,000. Institutional investors own 24.78% of the company’s stock.

Rush Street Interactive Stock Performance

The firm has a market cap of $1.75 billion, a PE ratio of -45.59 and a beta of 1.67. The stock has a 50-day simple moving average of $6.23 and a two-hundred day simple moving average of $5.10.

Rush Street Interactive (NYSE:RSI) last announced its quarterly earnings results on Wednesday, March 6th. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. The firm 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, sell-side analysts anticipate that Rush Street Interactive, Inc. will post -0.22 EPS for the current fiscal year.

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.