Rush Street Interactive (NYSE:RSI) Cut to Hold at Craig Hallum

Rush Street Interactive (NYSE:RSI) was downgraded by Craig Hallum from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, Briefing.com reports. They presently have a $15.00 price target on the stock. Craig Hallum‘s target price points to a potential upside of 23.86% from the company’s current price.

A number of other research firms have also recently issued reports on RSI. Citigroup reiterated a “market outperform” rating on shares of Rush Street Interactive in a report on Thursday. Susquehanna decreased their price objective on Rush Street Interactive from $37.00 to $27.00 and set a “positive” rating on the stock in a report on Friday, October 9th. Weiss Ratings upgraded Rush Street Interactive from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, October 21st. Citizens Jmp dropped their target price on Rush Street Interactive from $34.00 to $24.00 and set a “market outperform” rating for the company in a research report on Thursday. Finally, Morgan Stanley assumed coverage on Rush Street Interactive in a research note on Monday, October 19th. They issued an “equal weight” rating and a $22.00 target price for the company. One research 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 stock. According to MarketBeat, Rush Street Interactive presently has an average rating of “Moderate Buy” and an average target price of $26.46.

Rush Street Interactive Stock Performance

NYSE RSI opened at $12.11 on Monday. Rush Street Interactive has a 52-week low of $11.88 and a 52-week high of $34.53. The company has a market capitalization of $2.81 billion, a P/E ratio of 36.70 and a beta of 1.81. The company has a fifty day moving average of $21.52 and a 200-day moving average of $23.74.

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

Insider Buying and Selling

In other Rush Street Interactive news, CFO Kyle Sauers sold 23,000 shares of the stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $20.31, for a total value of $467,130.00. Following the completion of the sale, the chief financial officer owned 583,526 shares in the company, valued at approximately $11,851,413.06. This trade represents a 3.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jack A. Markell acquired 1,500 shares of the business’s stock in a transaction dated Friday, September 25th. The stock was acquired at an average price of $19.35 per share, for a total transaction of $29,025.00. Following the completion of the transaction, the director owned 18,883 shares in the company, valued at approximately $365,386.05. The trade was a 8.63% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders sold 402,664 shares of company stock worth $9,204,199. 52.89% of the stock is owned by company insiders.

Hedge Funds Weigh In On Rush Street Interactive

Hedge funds and other institutional investors have recently made changes to their positions in the business. GSA Capital Partners LLP purchased a new position in shares of Rush Street Interactive during the 2nd quarter worth approximately $1,996,000. Quantinno Capital Management LP purchased a new stake in Rush Street Interactive in the first quarter worth $1,769,000. BlackRock Inc. bought a new position in Rush Street Interactive in the second quarter worth $448,435,000. Bank of America Corp DE bought a new position in Rush Street Interactive in the second quarter worth $34,015,000. Finally, Tidal Investments LLC purchased a new position in Rush Street Interactive during the second quarter valued at $1,323,000. 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.