Rush Street Interactive, Inc. (NYSE:RSI) Stock Rated “Moderate Buy” by Sell-Side Brokerages

Rush Street Interactive, Inc. (NYSE:RSI) has been given an average recommendation of “Moderate Buy” by the fourteen brokerages that are currently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $35.10.

A number of research analysts have commented on RSI shares. Wall Street Zen upgraded Rush Street Interactive from a “hold” rating to a “buy” rating in a research note on Sunday, September 13th. New Street Research set a $35.00 price target on Rush Street Interactive in a report on Thursday, July 23rd. JPMorgan Chase & Co. boosted their price target on Rush Street Interactive from $26.00 to $30.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Needham & Company LLC increased their price objective on Rush Street Interactive from $33.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Rush Street Interactive in a research report on Tuesday.

Rush Street Interactive Stock Down 5.1%

NYSE:RSI opened at $19.52 on Friday. The stock has a fifty day simple moving average of $26.61 and a 200 day simple moving average of $26.31. The firm has a market capitalization of $4.52 billion, a price-to-earnings ratio of 67.31 and a beta of 1.51. Rush Street Interactive has a 1-year low of $15.51 and a 1-year high of $34.53.

Rush Street Interactive (NYSE:RSI) last released its quarterly 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. The business had revenue of $393.78 million for the quarter, compared to analyst estimates of $367.75 million. Rush Street Interactive had a net margin of 2.33% and a return on equity of 18.88%. The firm’s revenue was up 46.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.11 earnings per share. Equities analysts predict that Rush Street Interactive will post 0.49 earnings per share for the current year.

Insider Activity at Rush Street Interactive

In related news, CFO Kyle Sauers sold 23,000 shares of the business’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $26.56, for a total transaction of $610,880.00. Following the completion of the transaction, the chief financial officer owned 606,526 shares of the company’s stock, valued at approximately $16,109,330.56. The trade was a 3.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Mattias Stetz sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $28.03, for a total value of $560,600.00. Following the transaction, the chief operating officer owned 177,874 shares of the company’s stock, valued at approximately $4,985,808.22. This trade represents a 10.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 604,000 shares of company stock valued at $17,093,292. Corporate insiders own 52.89% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Global Retirement Partners LLC bought a new position in Rush Street Interactive during the second quarter worth about $35,000. CoreCap Advisors LLC bought a new stake in shares of Rush Street Interactive in the 2nd quarter valued at approximately $54,000. Allworth Financial LP bought a new stake in shares of Rush Street Interactive in the 2nd quarter valued at approximately $57,000. Integrated Wealth Concepts LLC acquired a new position in shares of Rush Street Interactive in the 2nd quarter worth approximately $70,000. Finally, Quantbot Technologies LP acquired a new position in shares of Rush Street Interactive in the 2nd quarter worth approximately $98,000. 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.