Rush Street Interactive (NYSE:RSI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Rush Street Interactive (NYSE:RSI) from a buy rating to a strong-buy rating in a research report sent to investors on Saturday morning.

Several other analysts also recently weighed in on the company. Needham & Company LLC upped their price target on Rush Street Interactive from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. JPMorgan Chase & Co. boosted their target price on Rush Street Interactive from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, October 16th. Jefferies Financial Group raised their price target on Rush Street Interactive from $26.00 to $27.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Oppenheimer reaffirmed an “outperform” rating and issued a $24.00 price target on shares of Rush Street Interactive in a research report on Thursday, October 30th. Finally, Benchmark increased their price objective on shares of Rush Street Interactive from $20.00 to $24.00 and gave the company a “buy” rating in a research report on Monday, September 8th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.75.

Rush Street Interactive Stock Up 0.8%

Shares of RSI stock opened at $17.38 on Friday. The business’s fifty day moving average is $19.68 and its 200 day moving average is $16.75. The stock has a market cap of $3.99 billion, a price-to-earnings ratio of 69.52 and a beta of 1.86. Rush Street Interactive has a twelve month low of $9.54 and a twelve month high of $22.65.

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

Insider Activity at Rush Street Interactive

In other news, COO Mattias Stetz sold 30,000 shares of the 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 of the company’s stock, valued at $3,329,234.54. This represents a 13.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction, the chief financial officer owned 418,651 shares in the company, valued at approximately $9,352,663.34. This trade represents a 3.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 632,848 shares of company stock worth $12,629,707 in the last three months. 56.89% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Rush Street Interactive by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 8,822,279 shares of the company’s stock valued at $180,680,000 after purchasing an additional 107,671 shares during the period. JPMorgan Chase & Co. increased its holdings in Rush Street Interactive by 57.0% during the third quarter. JPMorgan Chase & Co. now owns 213,943 shares of the company’s stock valued at $4,382,000 after buying an additional 77,698 shares during the last quarter. Alps Advisors Inc. bought a new position in Rush Street Interactive in the third quarter worth approximately $441,000. Concord Wealth Partners purchased a new position in shares of Rush Street Interactive during the 3rd quarter worth $41,000. Finally, Arizona State Retirement System boosted its stake in shares of Rush Street Interactive by 7.6% during the 3rd quarter. Arizona State Retirement System now owns 28,294 shares of the company’s stock worth $579,000 after acquiring an additional 1,989 shares during the last quarter. Institutional investors own 24.78% of the company’s stock.

Rush Street Interactive Company Profile

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.