Rush Street Interactive (NYSE:RSI) Upgraded to “Strong-Buy” at Barclays

Rush Street Interactive (NYSE:RSI) was upgraded by Barclays to a “strong-buy” rating in a research note issued on Friday, Zacks reports.

A number of other brokerages also recently issued reports on RSI. Needham & Company LLC upped their price target on Rush Street Interactive from $33.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Morgan Stanley started coverage on shares of Rush Street Interactive in a report on Monday, October 19th. They set an “equal weight” rating and a $22.00 price objective on the stock. Wall Street Zen downgraded shares of Rush Street Interactive from a “buy” rating to a “hold” rating in a research report on Saturday, October 17th. Citigroup restated a “market outperform” rating on shares of Rush Street Interactive in a report on Tuesday, September 22nd. Finally, Citizens Jmp restated a “market outperform” rating and issued a $34.00 target price on shares of Rush Street Interactive in a report on Tuesday, September 22nd. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $31.67.

Rush Street Interactive Stock Down 3.0%

Shares of NYSE:RSI opened at $15.86 on Friday. The business has a fifty day moving average of $22.63 and a two-hundred day moving average of $25.95. The stock has a market cap of $3.68 billion, a P/E ratio of 54.70 and a beta of 1.71. Rush Street Interactive has a 52-week low of $15.51 and a 52-week high of $34.53.

Rush Street Interactive (NYSE:RSI) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.15 EPS 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 for the quarter, compared to the consensus estimate of $367.75 million. During the same quarter in the prior year, the business posted $0.11 EPS. The business’s revenue for the quarter was up 46.3% on a year-over-year basis. On average, equities analysts anticipate that Rush Street Interactive will post 0.49 earnings per share for the current year.

Insider Transactions at Rush Street Interactive

In other news, Director Jack Markell bought 1,500 shares of Rush Street Interactive 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 acquisition, 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. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Mattias Stetz sold 20,000 shares of the company’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $19.87, for a total value of $397,400.00. Following the completion of the sale, the chief operating officer directly owned 137,874 shares of the company’s stock, valued at approximately $2,739,556.38. This trade represents a 12.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 603,998 shares of company stock worth $14,814,268 over the last three months. 52.89% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rush Street Interactive

Several large investors have recently modified their holdings of the company. Global Retirement Partners LLC purchased a new position in Rush Street Interactive during the 2nd quarter worth $35,000. CoreCap Advisors LLC acquired a new position in Rush Street Interactive in the second quarter valued at $54,000. Allworth Financial LP purchased a new stake in shares of Rush Street Interactive in the second quarter valued at about $57,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Rush Street Interactive in the second quarter valued at about $70,000. Finally, Sterling Capital Management LLC raised its holdings in shares of Rush Street Interactive by 945.1% in the third quarter. Sterling Capital Management LLC now owns 3,731 shares of the company’s stock valued at $76,000 after buying an additional 3,374 shares during the last quarter. 24.78% of the stock is owned by institutional investors and hedge funds.

About Rush Street Interactive

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.