Rush Street Interactive, Inc. (NYSE:RSI) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Rush Street Interactive, Inc. (NYSE:RSI) have earned a consensus rating of “Moderate Buy” from the thirteen brokerages that are covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $35.2222.

A number of equities analysts have recently commented on RSI shares. Wall Street Zen upgraded shares of Rush Street Interactive from a “hold” rating to a “buy” rating in a research report on Sunday, September 13th. New Street Research set a $35.00 target price on shares of Rush Street Interactive in a report on Thursday, July 23rd. Susquehanna increased their target price on shares of Rush Street Interactive from $30.00 to $36.00 and gave the stock a “positive” rating in a research note on Wednesday, July 29th. Benchmark raised their price target on shares of Rush Street Interactive from $30.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Finally, Wells Fargo & Company boosted their price target on shares of Rush Street Interactive from $35.00 to $36.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th.

Rush Street Interactive Stock Performance

Shares of RSI opened at $25.23 on Friday. Rush Street Interactive has a 52-week low of $15.51 and a 52-week high of $34.53. The stock’s 50-day simple moving average is $27.82 and its 200 day simple moving average is $26.28. The stock has a market capitalization of $5.85 billion, a price-to-earnings ratio of 86.99 and a beta of 1.51.

Rush Street Interactive (NYSE:RSI) last posted its earnings results on Wednesday, July 29th. The company reported $0.15 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.15. Rush Street Interactive had a return on equity of 18.88% and a net margin of 2.33%.The business had revenue of $393.78 million during the quarter, compared to analyst estimates of $367.75 million. During the same quarter in the previous year, the firm earned $0.11 EPS. The company’s quarterly revenue was up 46.3% compared to the same quarter last year. On average, research analysts forecast that Rush Street Interactive will post 0.49 earnings per share for the current fiscal year.

Insider Activity at Rush Street Interactive

In other Rush Street Interactive news, COO Mattias Stetz sold 20,000 shares of the company’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $25.68, for a total value of $513,600.00. Following the transaction, the chief operating officer directly owned 157,874 shares in the company, valued at $4,054,204.32. This represents a 11.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kyle Sauers sold 23,000 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $26.56, for a total value of $610,880.00. Following the completion of the sale, the chief financial officer directly owned 606,526 shares in the company, valued at approximately $16,109,330.56. The trade was a 3.65% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 614,000 shares of company stock valued at $17,394,492. Company insiders own 52.89% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Global Retirement Partners LLC purchased a new stake in Rush Street Interactive in the second quarter valued at approximately $35,000. CoreCap Advisors LLC purchased a new position in Rush Street Interactive in the 2nd quarter worth approximately $54,000. Allworth Financial LP purchased a new position in Rush Street Interactive in the 2nd quarter worth approximately $57,000. Integrated Wealth Concepts LLC bought a new position in shares of Rush Street Interactive in the 2nd quarter worth $70,000. Finally, Quantbot Technologies LP bought a new position in shares of Rush Street Interactive in the 2nd quarter worth $98,000. Hedge funds and other institutional investors own 24.78% of the company’s stock.

About Rush Street Interactive

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.