Rush Street Interactive (NYSE:RSI) Stock Rating Upgraded by 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 note issued to investors on Monday.

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

Rush Street Interactive Stock Up 1.1%

Shares of RSI opened at $13.71 on Monday. Rush Street Interactive has a 12-month low of $8.52 and a 12-month high of $16.78. The business has a 50-day simple moving average of $11.97 and a two-hundred day simple moving average of $12.87. The stock has a market cap of $3.14 billion, a PE ratio of -685.25 and a beta of 1.85.

Rush Street Interactive (NYSE:RSI) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. The business had revenue of $262.41 million during the quarter, compared to the consensus estimate of $258.90 million. Rush Street Interactive had a negative return on equity of 3.73% and a negative net margin of 0.16%. Rush Street Interactive’s quarterly revenue was up 20.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.03 earnings per share. On average, equities research analysts expect that Rush Street Interactive will post 0.04 EPS for the current year.

Insider Activity at Rush Street Interactive

In related news, COO Mattias Stetz sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $10.84, for a total transaction of $216,800.00. Following the completion of the sale, the chief operating officer now directly owns 426,051 shares in the company, valued at approximately $4,618,392.84. The trade was a 4.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Einar Roosileht sold 60,000 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $10.69, for a total transaction of $641,400.00. Following the sale, the insider now directly owns 956,150 shares of the company’s stock, valued at approximately $10,221,243.50. The trade was a 5.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 614,238 shares of company stock valued at $6,953,074 in the last 90 days. Corporate insiders own 56.94% of the company’s stock.

Institutional Inflows and Outflows

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

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.