Rush Street Interactive (NYSE:RSI) Stock Rating Lowered by Wall Street Zen

Wall Street Zen downgraded shares of Rush Street Interactive (NYSE:RSI) from a strong-buy rating to a buy rating in a report issued on Saturday.

RSI has been the topic of several other research reports. Benchmark upped their price target on Rush Street Interactive from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. Needham & Company LLC upped their price objective on Rush Street Interactive from $17.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, July 31st. JPMorgan Chase & Co. started coverage on Rush Street Interactive in a research report on Monday, June 23rd. They set a “neutral” rating and a $14.00 price objective for the company. Oppenheimer upped their price objective on Rush Street Interactive from $16.00 to $21.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Finally, Macquarie reaffirmed an “outperform” rating and set a $16.00 price objective on shares of Rush Street Interactive in a research report on Friday, May 2nd. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Rush Street Interactive currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.89.

Rush Street Interactive Price Performance

Shares of NYSE RSI opened at $20.01 on Friday. The stock’s 50-day moving average is $15.84 and its two-hundred day moving average is $13.47. Rush Street Interactive has a 1-year low of $8.76 and a 1-year high of $20.32. The company has a market cap of $4.57 billion, a price-to-earnings ratio of 100.05 and a beta of 1.90.

Rush Street Interactive (NYSE:RSI) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.03. Rush Street Interactive had a return on equity of 16.53% and a net margin of 2.48%. The company had revenue of $269.22 million for the quarter, compared to the consensus estimate of $248.98 million. During the same quarter in the prior year, the business earned $0.04 EPS. Rush Street Interactive’s revenue was up 22.2% on a year-over-year basis. Equities research analysts anticipate that Rush Street Interactive will post 0.04 earnings per share for the current fiscal year.

Insider Transactions at Rush Street Interactive

In related news, insider Paul Wierbicki sold 35,000 shares of the company’s stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $19.45, for a total value of $680,750.00. Following the completion of the sale, the insider directly owned 91,705 shares of the company’s stock, valued at $1,783,662.25. This represents a 27.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Einar Roosileht sold 70,000 shares of the company’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $18.95, for a total value of $1,326,500.00. Following the completion of the sale, the insider directly owned 876,150 shares of the company’s stock, valued at approximately $16,603,042.50. This trade represents a 7.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,816,090 shares of company stock worth $44,026,948. Insiders own 56.89% of the company’s stock.

Institutional Trading of Rush Street Interactive

Large investors have recently made changes to their positions in the company. Pacer Advisors Inc. boosted its position in shares of Rush Street Interactive by 94.7% in the 1st quarter. Pacer Advisors Inc. now owns 2,533 shares of the company’s stock valued at $27,000 after purchasing an additional 1,232 shares during the period. Summit Securities Group LLC purchased a new stake in Rush Street Interactive during the 1st quarter valued at approximately $33,000. Heck Capital Advisors LLC purchased a new stake in Rush Street Interactive during the 4th quarter valued at approximately $34,000. Farther Finance Advisors LLC purchased a new stake in Rush Street Interactive during the 2nd quarter valued at approximately $42,000. Finally, GAMMA Investing LLC raised its stake in Rush Street Interactive by 1,687.6% during the 1st quarter. GAMMA Investing LLC now owns 6,507 shares of the company’s stock valued at $70,000 after acquiring an additional 6,143 shares during the last quarter. 24.78% of the stock is owned by institutional investors and hedge funds.

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.