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

Rush Street Interactive, Inc. (NYSE:RSI) has been given an average recommendation of “Moderate Buy” by the six analysts that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $11.17.

Several equities research analysts have recently issued reports on the stock. Oppenheimer increased their price objective on shares of Rush Street Interactive from $10.00 to $14.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Craig Hallum boosted their price objective on Rush Street Interactive from $11.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Wells Fargo & Company increased their target price on Rush Street Interactive from $11.00 to $13.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, Needham & Company LLC boosted their price target on Rush Street Interactive from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st.

Rush Street Interactive Trading Down 1.8 %

Shares of Rush Street Interactive stock opened at $10.36 on Monday. The business’s fifty day moving average price is $9.66 and its 200 day moving average price is $8.42. Rush Street Interactive has a twelve month low of $3.17 and a twelve month high of $11.59. The stock has a market capitalization of $2.33 billion, a P/E ratio of -60.94 and a beta of 1.78.

Rush Street Interactive (NYSE:RSI) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.06. The business had revenue of $220.38 million for the quarter, compared to analyst estimates of $201.37 million. Rush Street Interactive had a negative return on equity of 12.45% and a negative net margin of 0.84%. The company’s revenue was up 33.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.08) EPS. As a group, sell-side analysts predict that Rush Street Interactive will post -0.01 EPS for the current year.

Insider Buying and Selling

In other Rush Street Interactive news, insider Einar Roosileht sold 150,000 shares of Rush Street Interactive stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $9.09, for a total transaction of $1,363,500.00. Following the sale, the insider now directly owns 809,260 shares in the company, valued at approximately $7,356,173.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Rush Street Interactive news, CEO Richard Todd Schwartz sold 78,593 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $9.56, for a total transaction of $751,349.08. Following the sale, the chief executive officer now owns 1,984,404 shares in the company, valued at $18,970,902.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Einar Roosileht sold 150,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $9.09, for a total value of $1,363,500.00. Following the transaction, the insider now directly owns 809,260 shares in the company, valued at approximately $7,356,173.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 548,210 shares of company stock worth $5,179,362. 56.89% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rush Street Interactive

Institutional investors and hedge funds have recently made changes to their positions in the company. Driehaus Capital Management LLC acquired a new position in Rush Street Interactive in the second quarter valued at approximately $10,605,000. Assenagon Asset Management S.A. boosted its position in Rush Street Interactive by 157.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,425,016 shares of the company’s stock valued at $13,666,000 after purchasing an additional 872,367 shares during the period. Nomura Holdings Inc. grew its stake in Rush Street Interactive by 24.7% during the 4th quarter. Nomura Holdings Inc. now owns 4,184,373 shares of the company’s stock worth $18,788,000 after buying an additional 828,984 shares during the last quarter. Marshall Wace LLP grew its stake in Rush Street Interactive by 185.5% during the 2nd quarter. Marshall Wace LLP now owns 981,822 shares of the company’s stock worth $9,416,000 after buying an additional 637,883 shares during the last quarter. Finally, Millennium Management LLC increased its position in Rush Street Interactive by 378.4% in the second quarter. Millennium Management LLC now owns 620,552 shares of the company’s stock worth $5,951,000 after buying an additional 490,831 shares during the period. 24.78% of the stock is owned by institutional investors and hedge funds.

Rush Street Interactive Company Profile

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.