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

Shares of Rush Street Interactive, Inc. (NYSE:RSI) have earned a consensus rating of “Moderate Buy” from the nine analysts that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $15.63.

A number of equities research analysts have recently weighed in on RSI shares. Benchmark boosted their price target on Rush Street Interactive from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Wells Fargo & Company boosted their target price on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $17.00 price target on shares of Rush Street Interactive in a report on Thursday, May 1st. Jefferies Financial Group boosted their price objective on shares of Rush Street Interactive from $16.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. Finally, Macquarie restated an “outperform” rating and issued a $16.00 target price on shares of Rush Street Interactive in a research note on Friday, May 2nd.

Rush Street Interactive Price Performance

RSI stock opened at $11.76 on Tuesday. Rush Street Interactive has a 1-year low of $8.29 and a 1-year high of $16.78. The business has a 50-day moving average price of $11.24 and a 200 day moving average price of $12.69. The company has a market capitalization of $2.68 billion, a P/E ratio of -588.00 and a beta of 1.88.

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 the consensus estimate of $0.08 by $0.01. The firm had revenue of $262.41 million during the quarter, compared to analyst estimates of $258.90 million. Rush Street Interactive had a negative return on equity of 3.73% and a negative net margin of 0.16%. The business’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.03 EPS. On average, analysts anticipate that Rush Street Interactive will post 0.04 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Einar Roosileht sold 70,000 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $11.67, for a total transaction of $816,900.00. Following the completion of the transaction, the insider now owns 946,150 shares in the company, valued at approximately $11,041,570.50. The trade was a 6.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Richard Todd Schwartz sold 133,905 shares of Rush Street Interactive stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $14.22, for a total value of $1,904,129.10. Following the sale, the chief executive officer now directly owns 2,251,943 shares of the company’s stock, valued at $32,022,629.46. This trade represents a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 857,710 shares of company stock valued at $9,861,938. 56.94% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rush Street Interactive

Institutional investors have recently modified their holdings of the business. Jupiter Asset Management Ltd. boosted its stake in shares of Rush Street Interactive by 57.7% during the first quarter. Jupiter Asset Management Ltd. now owns 1,395,868 shares of the company’s stock worth $14,964,000 after buying an additional 510,955 shares during the period. XTX Topco Ltd raised its stake in Rush Street Interactive by 100.7% during the 1st quarter. XTX Topco Ltd now owns 54,817 shares of the company’s stock valued at $588,000 after acquiring an additional 27,499 shares during the last quarter. Bryce Point Capital LLC acquired a new stake in Rush Street Interactive during the 1st quarter worth approximately $724,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Rush Street Interactive by 19.9% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,935 shares of the company’s stock valued at $267,000 after purchasing an additional 4,133 shares during the last quarter. Finally, Pacer Advisors Inc. increased its holdings in shares of Rush Street Interactive by 94.7% in the first quarter. Pacer Advisors Inc. now owns 2,533 shares of the company’s stock valued at $27,000 after purchasing an additional 1,232 shares during the period. 24.78% of the stock is owned by institutional investors and hedge funds.

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.