Rush Street Interactive (NYSE:RSI) Sets New 52-Week Low – Time to Sell?

Rush Street Interactive, Inc. (NYSE:RSI)’s stock price reached a new 52-week low on Tuesday. The stock traded as low as $15.48 and last traded at $15.4870, with a volume of 1,182,938 shares changing hands. The stock had previously closed at $16.30.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Needham & Company LLC raised their price target on shares of Rush Street Interactive from $33.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Wells Fargo & Company upped their price target on shares of Rush Street Interactive from $35.00 to $36.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Oppenheimer lifted their price objective on Rush Street Interactive from $30.00 to $36.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Citizens Jmp restated a “market outperform” rating and issued a $34.00 target price on shares of Rush Street Interactive in a research note on Tuesday, September 22nd. Finally, New Street Research set a $35.00 target price on Rush Street Interactive in a research report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $31.33.

Rush Street Interactive Stock Down 5.0%

The company has a 50-day moving average price of $22.42 and a 200-day moving average price of $23.83. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of 53.24 and a beta of 1.71.

Rush Street Interactive (NYSE:RSI) last released its earnings results on Wednesday, July 29th. The company reported $0.15 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.15. Rush Street Interactive had a return on equity of 18.88% and a net margin of 2.33%. The firm had revenue of $393.78 million for the quarter, compared to analyst estimates of $367.75 million. During the same quarter last year, the firm posted $0.11 EPS. The company’s revenue was up 46.3% on a year-over-year basis. Equities analysts expect that Rush Street Interactive, Inc. will post 0.49 EPS for the current fiscal year.

Insider Buying and Selling

In other Rush Street Interactive news, COO Mattias Stetz sold 20,000 shares of the firm’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $25.68, for a total value of $513,600.00. Following the sale, the chief operating officer directly owned 157,874 shares in the company, valued at $4,054,204.32. This trade represents a 11.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Richard Schwartz sold 111,112 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $28.02, for a total transaction of $3,113,358.24. Following the transaction, the chief executive officer owned 421,258 shares in the company, valued at approximately $11,803,649.16. The trade was a 20.87% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 603,998 shares of company stock valued at $14,814,268. 52.89% of the stock is owned by company insiders.

Institutional Investors Weigh In On Rush Street Interactive

Institutional investors have recently added to or reduced their stakes in the company. New York State Teachers Retirement System raised its holdings in shares of Rush Street Interactive by 5.2% in the first quarter. New York State Teachers Retirement System now owns 8,441 shares of the company’s stock valued at $184,000 after purchasing an additional 419 shares during the last quarter. Allworth Financial LP raised its stake in shares of Rush Street Interactive by 38.1% during the 2nd quarter. Allworth Financial LP now owns 1,917 shares of the company’s stock worth $57,000 after purchasing an additional 529 shares in the last quarter. Global Retirement Partners LLC bought a new position in shares of Rush Street Interactive in the second quarter valued at $35,000. CoreCap Advisors LLC acquired a new position in Rush Street Interactive during the second quarter worth $54,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in Rush Street Interactive in the second quarter valued at $70,000. 24.78% of the stock is owned by institutional investors and hedge funds.

Rush Street Interactive Company Profile

Rush Street Interactive, Inc is an online gaming and sports betting company that operates regulated internet casino and sportsbook platforms. Its primary consumer brands include BetRivers, PlaySugarHouse and RushBet, offering online casino games, sports wagering and related digital gaming products through websites and mobile applications.

The company serves customers in regulated markets across the United States and Latin America, with operations also extending to select international jurisdictions.