Rush Street Interactive (NYSE:RSI) Stock Picked Up by Analysts at Barclays

Analysts at Barclays started coverage on shares of Rush Street Interactive (NYSE:RSI) in a research note issued to investors on Friday, Marketbeat Ratings reports. The brokerage set an “overweight” rating and a $24.00 price target on the stock. Barclays‘s price target suggests a potential upside of 51.31% from the company’s current price.

RSI has been the topic of several other reports. Morgan Stanley initiated coverage on Rush Street Interactive in a research report on Monday, October 19th. They set an “equal weight” rating and a $22.00 price target on the stock. Oppenheimer increased their price target on Rush Street Interactive from $30.00 to $36.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Needham & Company LLC increased their target price on Rush Street Interactive from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Wall Street Zen downgraded shares of Rush Street Interactive from a “buy” rating to a “hold” rating in a research note on Saturday, October 17th. Finally, Citigroup restated a “market outperform” rating on shares of Rush Street Interactive in a research note on Tuesday, September 22nd. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Rush Street Interactive currently has a consensus rating of “Moderate Buy” and an average price target of $31.67.

Rush Street Interactive Stock Down 3.0%

Shares of Rush Street Interactive stock traded down $0.50 during trading on Friday, reaching $15.86. The company’s stock had a trading volume of 2,482,183 shares, compared to its average volume of 2,931,139. The business has a 50 day moving average price of $22.63 and a 200-day moving average price of $25.95. Rush Street Interactive has a 12-month low of $15.51 and a 12-month high of $34.53. The company has a market capitalization of $3.68 billion, a P/E ratio of 54.70 and a beta of 1.71.

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

Insider Transactions at Rush Street Interactive

In other Rush Street Interactive news, CEO Richard Schwartz sold 47,222 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $19.88, for a total value of $938,773.36. Following the completion of the transaction, the chief executive officer owned 374,036 shares of the company’s stock, valued at $7,435,835.68. This represents a 11.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jack Markell bought 1,500 shares of the business’s stock in a transaction that occurred on Friday, September 25th. The shares were bought at an average price of $19.35 per share, with a total value of $29,025.00. Following the transaction, the director directly owned 18,883 shares in the company, valued at $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. Insiders have sold a total of 603,998 shares of company stock valued at $14,814,268 in the last three months. 52.89% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Rush Street Interactive

A number of hedge funds and other institutional investors have recently made changes to their positions in RSI. Global Retirement Partners LLC bought a new stake in shares of Rush Street Interactive during the 2nd quarter worth $35,000. CoreCap Advisors LLC acquired a new position in Rush Street Interactive during the 2nd quarter worth approximately $54,000. Allworth Financial LP bought a new position in shares of Rush Street Interactive in the 2nd quarter valued at $57,000. Integrated Wealth Concepts LLC acquired a new position in Rush Street Interactive in the 2nd quarter worth about $70,000. Finally, Quantbot Technologies LP bought a new position in Rush Street Interactive in the second quarter valued at about $98,000. 24.78% of the stock is owned by institutional investors.

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.