Rush Street Interactive (NYSE:RSI) Upgraded to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Rush Street Interactive (NYSE:RSI) from a buy rating to a strong-buy rating in a research report released on Monday.

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

Rush Street Interactive Trading Up 1.3%

Shares of Rush Street Interactive stock opened at $13.55 on Monday. Rush Street Interactive has a 1 year low of $8.52 and a 1 year high of $16.78. The company’s fifty day simple moving average is $11.91 and its 200-day simple moving average is $12.87. The company has a market cap of $3.10 billion, a price-to-earnings ratio of -677.50 and a beta of 1.85.

Rush Street Interactive (NYSE:RSI) last issued its quarterly earnings results 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 firm had revenue of $262.41 million during the quarter, compared to the consensus estimate of $258.90 million. Rush Street Interactive had a negative net margin of 0.16% and a negative return on equity of 3.73%. The business’s revenue was up 20.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.03 EPS. As a group, research analysts forecast that Rush Street Interactive will post 0.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Rush Street Interactive

In other news, 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 value of $641,400.00. Following the sale, the insider now owns 956,150 shares in the company, valued at approximately $10,221,243.50. The trade was a 5.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Mattias Stetz sold 20,000 shares of the company’s stock in a transaction dated Tuesday, April 1st. The stock was 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 position. The disclosure for this sale can be found here. Insiders have sold 614,238 shares of company stock worth $6,953,074 over the last three months. Company insiders own 56.94% of the company’s stock.

Institutional Trading of Rush Street Interactive

Several hedge funds have recently modified their holdings of the company. Alliancebernstein L.P. grew its position in Rush Street Interactive by 1,617.7% during the 1st quarter. Alliancebernstein L.P. now owns 6,133,759 shares of the company’s stock worth $65,754,000 after acquiring an additional 5,776,660 shares during the last quarter. Nuveen LLC acquired a new position in Rush Street Interactive in the first quarter worth $29,005,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Rush Street Interactive by 7,958.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,029,239 shares of the company’s stock worth $27,843,000 after purchasing an additional 2,004,059 shares during the last quarter. Topline Capital Management LLC acquired a new stake in shares of Rush Street Interactive in the fourth quarter valued at $24,851,000. Finally, William Blair Investment Management LLC acquired a new stake in shares of Rush Street Interactive in the fourth quarter valued at $21,635,000. Institutional investors and hedge funds 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.