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

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

Other equities analysts have also recently issued reports about the stock. Needham & Company LLC raised their price objective on shares of Rush Street Interactive from $17.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, July 31st. Jefferies Financial Group raised their price objective on shares of Rush Street Interactive from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, July 3rd. Macquarie reaffirmed an “outperform” rating and issued a $16.00 price objective on shares of Rush Street Interactive in a research note on Friday, May 2nd. Benchmark raised their price objective on shares of Rush Street Interactive from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, July 31st. Finally, JPMorgan Chase & Co. started coverage on shares of Rush Street Interactive in a research report on Monday, June 23rd. They set a “neutral” rating and a $14.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.89.

Rush Street Interactive Stock Performance

Shares of RSI stock opened at $19.54 on Friday. Rush Street Interactive has a 52-week low of $8.76 and a 52-week high of $20.32. The stock has a market cap of $4.46 billion, a PE ratio of 97.70 and a beta of 1.90. The firm’s 50 day moving average price is $15.71 and its two-hundred day moving average price is $13.45.

Rush Street Interactive (NYSE:RSI) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.03. Rush Street Interactive had a net margin of 2.48% and a return on equity of 16.53%. The firm had revenue of $269.22 million for the quarter, compared to analysts’ expectations of $248.98 million. During the same period last year, the firm earned $0.04 earnings per share. The business’s revenue for the quarter was up 22.2% on a year-over-year basis. As a group, sell-side analysts predict that Rush Street Interactive will post 0.04 earnings per share for the current fiscal year.

Insider Transactions at Rush Street Interactive

In related news, Director Judith Gold sold 100,000 shares of the business’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $19.61, for a total value of $1,961,000.00. Following the sale, the director directly owned 111,629 shares of the company’s stock, valued at approximately $2,189,044.69. The trade was a 47.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Masi Niccolo De sold 446,094 shares of the stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $18.35, for a total value of $8,185,824.90. Following the transaction, the director owned 15,203 shares of the company’s stock, valued at approximately $278,975.05. This trade represents a 96.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,816,090 shares of company stock valued at $44,026,948 over the last three months. 56.94% of the stock is currently owned by corporate insiders.

Institutional Trading of Rush Street Interactive

Several hedge funds and other institutional investors have recently modified their holdings of the company. Alliancebernstein L.P. raised its stake in shares of Rush Street Interactive by 1.3% in the 2nd quarter. Alliancebernstein L.P. now owns 6,214,230 shares of the company’s stock valued at $92,592,000 after purchasing an additional 80,471 shares during the period. Nuveen LLC acquired a new stake in shares of Rush Street Interactive in the 1st quarter valued at about $29,005,000. William Blair Investment Management LLC raised its stake in shares of Rush Street Interactive by 4.8% in the 2nd quarter. William Blair Investment Management LLC now owns 2,675,601 shares of the company’s stock valued at $39,866,000 after purchasing an additional 121,992 shares during the period. Driehaus Capital Management LLC raised its stake in shares of Rush Street Interactive by 12.7% in the 1st quarter. Driehaus Capital Management LLC now owns 2,480,268 shares of the company’s stock valued at $26,588,000 after purchasing an additional 279,751 shares during the period. Finally, Marshall Wace LLP raised its stake in shares of Rush Street Interactive by 100.9% in the 2nd quarter. Marshall Wace LLP now owns 2,372,671 shares of the company’s stock valued at $35,353,000 after purchasing an additional 1,191,546 shares during the period. Institutional investors and hedge funds own 24.78% of the company’s stock.

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.