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

Rush Street Interactive (NYSE:RSI) was upgraded by Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report issued on Monday.

A number of other analysts have also issued reports on the company. Wells Fargo & Company boosted their price target on Rush Street Interactive from $14.00 to $15.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. Macquarie reiterated an “outperform” rating and issued a $16.00 target price on shares of Rush Street Interactive in a report on Friday, May 2nd. Susquehanna upped their target price on Rush Street Interactive from $14.00 to $15.00 and gave the stock a “positive” rating in a report on Thursday, May 1st. Benchmark upped their price objective on shares of Rush Street Interactive from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Rush Street Interactive in a research note on Thursday, May 1st. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $15.63.

Rush Street Interactive Stock Performance

Shares of Rush Street Interactive stock opened at $13.71 on Monday. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of -685.25 and a beta of 1.85. The stock has a 50 day moving average price of $11.97 and a 200-day moving average price of $12.87. Rush Street Interactive has a one year low of $8.52 and a one year high of $16.78.

Rush Street Interactive (NYSE:RSI) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. Rush Street Interactive had a negative net margin of 0.16% and a negative return on equity of 3.73%. The firm had revenue of $262.41 million during the quarter, compared to analysts’ expectations of $258.90 million. During the same period in the previous year, the company earned $0.03 EPS. The firm’s revenue for the quarter was up 20.7% compared to the same quarter last year. Sell-side analysts predict that Rush Street Interactive will post 0.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Rush Street Interactive news, insider Einar Roosileht sold 70,000 shares of the business’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $12.47, for a total value of $872,900.00. Following the sale, the insider now owns 876,150 shares of the company’s stock, valued at $10,925,590.50. The trade was a 7.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard Todd Schwartz sold 193,905 shares of the business’s stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $10.63, for a total transaction of $2,061,210.15. Following the sale, the chief executive officer now owns 1,599,186 shares in the company, valued at $16,999,347.18. This trade represents a 10.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 614,238 shares of company stock worth $6,953,074. 56.94% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rush Street Interactive

Large investors have recently bought and sold shares of the stock. Barclays PLC increased its position in shares of Rush Street Interactive by 178.6% in the 3rd quarter. Barclays PLC now owns 192,628 shares of the company’s stock valued at $2,090,000 after purchasing an additional 123,486 shares during the last quarter. Legato Capital Management LLC purchased a new position in Rush Street Interactive in the fourth quarter valued at $1,897,000. Rhumbline Advisers increased its holdings in Rush Street Interactive by 2.4% in the fourth quarter. Rhumbline Advisers now owns 103,426 shares of the company’s stock valued at $1,419,000 after buying an additional 2,457 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Rush Street Interactive by 10.8% in the fourth quarter. Principal Financial Group Inc. now owns 86,051 shares of the company’s stock valued at $1,181,000 after buying an additional 8,393 shares during the last quarter. Finally, New York State Common Retirement Fund increased its holdings in Rush Street Interactive by 732.2% in the fourth quarter. New York State Common Retirement Fund now owns 177,627 shares of the company’s stock valued at $2,437,000 after buying an additional 156,282 shares during the last quarter. Hedge funds and other institutional investors own 24.78% of the company’s stock.

About Rush Street Interactive

Rush Street Interactive, Inc operates as an online casino and sports betting company in the United States, Canada, Mexico, and rest of Latin America. It provides real-money online casino, online and retail sports betting, and social gaming services. In addition, the company offers full suite of games comprising of bricks-and-mortar casinos, table games, and slot machines.