Rush Street Interactive (NYSE:RSI) Downgraded by Craig Hallum to “Hold”

Rush Street Interactive (NYSE:RSI) was downgraded by Craig Hallum from a “buy” rating to a “hold” rating in a report released on Monday, Briefing.com reports. They presently have a $15.00 price objective on the stock. Craig Hallum‘s target price would suggest a potential upside of 23.86% from the stock’s previous close.

RSI has been the topic of several other reports. Jefferies Financial Group reaffirmed a “buy” rating on shares of Rush Street Interactive in a research report on Thursday. Susquehanna cut their target price on shares of Rush Street Interactive from $37.00 to $27.00 and set a “positive” rating for the company in a research report on Friday, October 9th. Needham & Company LLC decreased their target price on shares of Rush Street Interactive from $36.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday. Wells Fargo & Company lowered their price target on Rush Street Interactive from $36.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Barclays dropped their price target on Rush Street Interactive from $24.00 to $23.00 and set an “overweight” rating on the stock in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $26.46.

Rush Street Interactive Stock Performance

RSI stock opened at $12.11 on Monday. The firm has a 50 day moving average price of $21.52 and a 200-day moving average price of $23.74. Rush Street Interactive has a 52-week low of $11.88 and a 52-week high of $34.53. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of 36.70 and a beta of 1.81.

Rush Street Interactive (NYSE:RSI) last posted its quarterly earnings results on Wednesday, October 28th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.02. Rush Street Interactive had a return on equity of 24.46% and a net margin of 2.56%. The company had revenue of $385.85 million for the quarter, compared to the consensus estimate of $388.05 million. During the same quarter in the prior year, the business posted $0.09 EPS. The firm’s quarterly revenue was up 38.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Rush Street Interactive will post 0.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Kyle Sauers sold 23,000 shares of the business’s stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $20.31, for a total value of $467,130.00. Following the transaction, the chief financial officer directly owned 583,526 shares in the company, valued at $11,851,413.06. The trade was a 3.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jack Markell acquired 1,500 shares of the company’s stock in a transaction dated Friday, September 25th. The stock was acquired at an average cost of $19.35 per share, with a total value of $29,025.00. Following the purchase, the director owned 18,883 shares of the company’s stock, valued at approximately $365,386.05. This trade represents a 8.63% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have sold 402,664 shares of company stock worth $9,204,199. 52.89% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. New York State Teachers Retirement System increased its position in Rush Street Interactive by 5.2% during the first quarter. New York State Teachers Retirement System now owns 8,441 shares of the company’s stock valued at $184,000 after acquiring an additional 419 shares during the last quarter. Allworth Financial LP raised its stake in shares of Rush Street Interactive by 38.1% in the second quarter. Allworth Financial LP now owns 1,917 shares of the company’s stock valued at $57,000 after acquiring an additional 529 shares during the period. ProShare Advisors LLC lifted its holdings in shares of Rush Street Interactive by 7.0% in the 3rd quarter. ProShare Advisors LLC now owns 15,523 shares of the company’s stock worth $316,000 after acquiring an additional 1,012 shares during the last quarter. Global Retirement Partners LLC bought a new stake in shares of Rush Street Interactive in the 2nd quarter worth about $35,000. Finally, CoreCap Advisors LLC bought a new stake in shares of Rush Street Interactive in the 2nd quarter worth about $54,000. Institutional investors own 24.78% of the company’s stock.

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.