Rush Street Interactive (NYSE:RSI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Rush Street Interactive (NYSE:RSI) from a hold rating to a buy rating in a research note released on Saturday,Wall Street Zen reports.

Several other analysts also recently issued reports on RSI. Weiss Ratings upgraded Rush Street Interactive from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, October 21st. Stifel Nicolaus reduced their price objective on shares of Rush Street Interactive from $34.00 to $30.00 and set a “buy” rating for the company in a research note on Monday, October 26th. Wells Fargo & Company decreased their target price on shares of Rush Street Interactive from $36.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, October 29th. Needham & Company LLC dropped their target price on shares of Rush Street Interactive from $36.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, October 29th. Finally, New Street Research set a $35.00 price target on shares of Rush Street Interactive in a report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given 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 $26.46.

Rush Street Interactive Trading Down 5.8%

NYSE:RSI opened at $11.41 on Friday. Rush Street Interactive has a twelve month low of $11.39 and a twelve month high of $34.53. The company has a 50-day moving average of $21.23 and a 200-day moving average of $23.70. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of 34.59 and a beta of 1.71.

Rush Street Interactive (NYSE:RSI) last released its earnings results on Wednesday, October 28th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. Rush Street Interactive had a net margin of 2.56% and a return on equity of 25.26%. The business had revenue of $385.85 million for the quarter, compared to the consensus estimate of $388.05 million. During the same period in the previous year, the firm earned $0.09 EPS. The business’s revenue for the quarter was up 38.8% on a year-over-year basis. On average, research analysts forecast that Rush Street Interactive will post 0.49 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Kyle Sauers sold 23,000 shares of the company’s stock in a transaction on Monday, October 5th. The shares were sold at an average price of $20.31, for a total value of $467,130.00. Following the completion of the sale, the chief financial officer directly owned 583,526 shares in the company, valued at approximately $11,851,413.06. This represents a 3.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Thomas Winter purchased 10,000 shares of the firm’s stock in a transaction dated Monday, November 2nd. The shares were bought at an average price of $11.83 per share, with a total value of $118,300.00. Following the purchase, the director owned 30,497 shares in the company, valued at $360,779.51. This represents a 48.79% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 402,664 shares of company stock worth $9,204,199 in the last 90 days. 52.89% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rush Street Interactive

Institutional investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in Rush Street Interactive during the second quarter worth $448,435,000. Arrowstreet Capital Limited Partnership grew its position in Rush Street Interactive by 84.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,764,173 shares of the company’s stock worth $60,121,000 after acquiring an additional 1,267,622 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Rush Street Interactive by 15.9% in the first quarter. Renaissance Technologies LLC now owns 2,285,000 shares of the company’s stock valued at $49,699,000 after buying an additional 312,700 shares in the last quarter. William Blair Investment Management LLC bought a new position in shares of Rush Street Interactive in the second quarter worth about $48,647,000. Finally, Bank of America Corp DE bought a new position in Rush Street Interactive in the 2nd quarter worth approximately $34,015,000. 24.78% of the stock is currently 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.