Rush Street Interactive (NYSE:RSI) Shares Up 4.4% – Time to Buy?

Rush Street Interactive, Inc. (NYSE:RSI)’s share price rose 4.4% on Tuesday. The stock traded as high as $19.44 and last traded at $19.5380. Approximately 1,099,062 shares changed hands during mid-day trading, a decline of 56% from the average session volume of 2,471,495 shares. The stock had previously closed at $18.71.

Analyst Ratings Changes

RSI has been the topic of several analyst reports. Weiss Ratings cut Rush Street Interactive from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, September 28th. Citigroup restated a “market outperform” rating on shares of Rush Street Interactive in a report on Tuesday, September 22nd. Oppenheimer raised their price target on Rush Street Interactive from $30.00 to $36.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Citizens Jmp reaffirmed a “market outperform” rating and set a $34.00 price target on shares of Rush Street Interactive in a research report on Tuesday, September 22nd. Finally, Needham & Company LLC boosted their target price on shares of Rush Street Interactive from $33.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Rush Street Interactive has an average rating of “Moderate Buy” and an average price target of $34.20.

Rush Street Interactive Stock Up 2.7%

The business has a 50 day moving average price of $24.00 and a two-hundred day moving average price of $26.23. The stock has a market cap of $4.46 billion, a P/E ratio of 66.35 and a beta of 1.71.

Rush Street Interactive (NYSE:RSI) last posted its earnings results on Wednesday, July 29th. The company reported $0.15 earnings per share for the quarter, meeting the consensus estimate of $0.15. Rush Street Interactive had a net margin of 2.33% and a return on equity of 18.88%. The company had revenue of $393.78 million during the quarter, compared to analysts’ expectations of $367.75 million. During the same period last year, the company posted $0.11 earnings per share. Rush Street Interactive’s quarterly revenue was up 46.3% on a year-over-year basis. On average, research analysts forecast that Rush Street Interactive, Inc. will post 0.49 earnings per share for the current year.

Insider Transactions at Rush Street Interactive

In other Rush Street Interactive news, COO Mattias Stetz sold 20,000 shares of the firm’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $25.68, for a total transaction of $513,600.00. Following the transaction, the chief operating officer directly owned 157,874 shares in the company, valued at $4,054,204.32. This trade represents a 11.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kyle Sauers sold 23,000 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $26.56, for a total transaction of $610,880.00. Following the completion of the sale, the chief financial officer owned 606,526 shares in the company, valued at $16,109,330.56. This represents a 3.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 603,998 shares of company stock worth $14,814,268. Insiders own 52.89% of the company’s stock.

Institutional Investors Weigh In On Rush Street Interactive

A number of institutional investors and hedge funds have recently made changes to their positions in RSI. Global Retirement Partners LLC acquired a new stake in Rush Street Interactive in the 2nd quarter valued at about $35,000. CoreCap Advisors LLC purchased a new position in Rush Street Interactive during the second quarter worth $54,000. Allworth Financial LP acquired a new stake in shares of Rush Street Interactive during the second quarter worth $57,000. Integrated Wealth Concepts LLC acquired a new position in Rush Street Interactive in the second quarter valued at $70,000. Finally, Quantbot Technologies LP acquired a new stake in Rush Street Interactive in the 2nd quarter valued at $98,000. 24.78% of the stock is owned by hedge funds and other institutional investors.

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 consumer-facing brands include BetRivers and PlaySugarHouse, which offer online casino games, sports wagering, and related digital gaming services where permitted by local regulations.

The company serves customers in multiple regulated markets across the United States and Latin America. Its operations have included online sports betting and casino gaming in U.S.