Rush Street Interactive (NYSE:RSI) Stock Rating Lowered by Wall Street Zen

Rush Street Interactive (NYSE:RSI) was downgraded by analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Saturday.

Other equities research analysts also recently issued research reports about the company. Jefferies Financial Group lifted their price objective on Rush Street Interactive from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, July 3rd. Susquehanna reaffirmed a “positive” rating and issued a $19.00 price objective (up previously from $15.00) on shares of Rush Street Interactive in a research report on Wednesday, July 30th. Oppenheimer lifted their price objective on Rush Street Interactive from $16.00 to $21.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st. Benchmark lifted their price objective on Rush Street Interactive from $20.00 to $24.00 and gave the company a “buy” rating in a research report on Monday, September 8th. Finally, Needham & Company LLC lifted their price objective on Rush Street Interactive from $17.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $18.33.

Rush Street Interactive Stock Performance

Rush Street Interactive stock opened at $21.20 on Friday. The stock has a fifty day moving average of $18.49 and a two-hundred day moving average of $14.32. The company has a market capitalization of $4.84 billion, a price-to-earnings ratio of 106.00 and a beta of 1.90. Rush Street Interactive has a fifty-two week low of $9.54 and a fifty-two week high of $22.55.

Rush Street Interactive (NYSE:RSI) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.03. The business had revenue of $269.22 million during the quarter, compared to the consensus estimate of $248.98 million. Rush Street Interactive had a return on equity of 16.53% and a net margin of 2.48%.The business’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.04 earnings per share. Rush Street Interactive has set its FY 2025 guidance at EPS. On average, analysts forecast that Rush Street Interactive will post 0.04 EPS for the current fiscal year.

Insider Activity

In other Rush Street Interactive news, COO Mattias Stetz sold 30,000 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $21.45, for a total transaction of $643,500.00. Following the completion of the sale, the chief operating officer owned 261,051 shares of the company’s stock, valued at approximately $5,599,543.95. The trade was a 10.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul Wierbicki sold 35,000 shares of the business’s stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $19.45, for a total value of $680,750.00. Following the sale, the insider directly owned 91,705 shares of the company’s stock, valued at approximately $1,783,662.25. This trade represents a 27.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,650,067 shares of company stock valued at $44,110,755 in the last 90 days. 56.94% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE lifted its stake in shares of Rush Street Interactive by 28.0% during the fourth quarter. Bank of America Corp DE now owns 563,769 shares of the company’s stock worth $7,735,000 after purchasing an additional 123,305 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Rush Street Interactive by 72.6% during the first quarter. Assenagon Asset Management S.A. now owns 542,376 shares of the company’s stock worth $5,814,000 after purchasing an additional 228,187 shares in the last quarter. Calamos Advisors LLC lifted its stake in shares of Rush Street Interactive by 17.9% during the first quarter. Calamos Advisors LLC now owns 540,008 shares of the company’s stock worth $5,789,000 after purchasing an additional 82,067 shares in the last quarter. Jump Financial LLC lifted its stake in shares of Rush Street Interactive by 41.5% during the first quarter. Jump Financial LLC now owns 300,400 shares of the company’s stock worth $3,220,000 after purchasing an additional 88,155 shares in the last quarter. Finally, Two Sigma Investments LP acquired a new position in shares of Rush Street Interactive in the fourth quarter worth about $783,000. 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.