Rush Street Interactive (NYSE:RSI) Stock Rating Reaffirmed as Market Outperform by Citizens Jmp

Rush Street Interactive (NYSE:RSI)‘s stock had its “market outperform” rating reissued by investment analysts at Citizens Jmp in a note issued to investors on Tuesday, Benzinga reports. They presently have a $34.00 price objective on the stock. Citizens Jmp’s price target would suggest a potential upside of 74.06% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. Oppenheimer increased their price objective on shares of Rush Street Interactive from $30.00 to $36.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Susquehanna increased their price objective on shares of Rush Street Interactive from $30.00 to $36.00 and gave the company a “positive” rating in a report on Wednesday, July 29th. Wells Fargo & Company increased their price objective on shares of Rush Street Interactive from $35.00 to $36.00 and gave the company an “overweight” rating in a report on Thursday, July 30th. Weiss Ratings upgraded shares of Rush Street Interactive from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, September 14th. Finally, Stifel Nicolaus began coverage on shares of Rush Street Interactive in a report on Monday, September 21st. They issued a “buy” rating and a $34.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.10.

Rush Street Interactive Trading Down 1.7%

RSI traded down $0.34 on Tuesday, hitting $19.53. 2,739,824 shares of the company’s stock were exchanged, compared to its average volume of 3,528,066. The firm has a market cap of $4.53 billion, a PE ratio of 66.23 and a beta of 1.51. Rush Street Interactive has a twelve month low of $15.51 and a twelve month high of $34.53. The stock has a fifty day moving average of $26.35 and a two-hundred day moving average of $26.31.

Rush Street Interactive (NYSE:RSI) last posted its earnings results on Wednesday, July 29th. The company reported $0.15 EPS for the quarter, hitting the consensus estimate of $0.15. Rush Street Interactive had a net margin of 2.33% and a return on equity of 18.88%. The firm had revenue of $393.78 million during the quarter, compared to analysts’ expectations of $367.75 million. During the same quarter in the prior year, the firm earned $0.11 EPS. Rush Street Interactive’s quarterly revenue was up 46.3% on a year-over-year basis. On average, analysts predict that Rush Street Interactive will post 0.49 EPS for the current year.

Insider Activity

In related news, COO Mattias Stetz sold 20,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief operating officer owned 157,874 shares in the company, valued at approximately $4,054,204.32. This represents a 11.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kyle Sauers sold 23,000 shares of the company’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $26.56, for a total transaction of $610,880.00. Following the completion of the sale, the chief financial officer owned 606,526 shares of the company’s stock, valued at approximately $16,109,330.56. This trade represents a 3.65% 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. Insiders have sold a total of 604,000 shares of company stock worth $17,093,292 in the last quarter. Insiders own 52.89% of the company’s stock.

Institutional Investors Weigh In On Rush Street Interactive

Several hedge funds have recently made changes to their positions in RSI. New York State Teachers Retirement System raised its holdings in shares of Rush Street Interactive by 5.2% during the 1st 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 in the last quarter. Allworth Financial LP raised its holdings 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 valued at $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 during the 2nd quarter valued at $35,000. ProShare Advisors LLC raised its holdings in shares of Rush Street Interactive by 10.3% during the 4th quarter. ProShare Advisors LLC now owns 16,740 shares of the company’s stock valued at $325,000 after purchasing an additional 1,561 shares in the last quarter. Finally, CoreCap Advisors LLC bought a new position in shares of Rush Street Interactive during the 2nd quarter valued at $54,000. Hedge funds and other institutional investors own 24.78% of the company’s stock.

Rush Street Interactive Company Profile

Rush Street Interactive, Inc (NYSE: RSI) is an online gaming and sports betting company that operates digital casino, sportsbook and related gaming platforms. Its consumer-facing brands include BetRivers and PlaySugarHouse, which offer mobile and online wagering products such as sports betting, internet casino games and, in certain markets, online poker.

The company operates primarily in regulated markets across the United States and Canada, as well as select Latin American jurisdictions.