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

Shares of Rush Street Interactive, Inc. (NYSE:RSI) have been given an average rating of “Moderate Buy” by the nine ratings firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $15.63.

Several research analysts recently weighed in on RSI shares. Wall Street Zen cut Rush Street Interactive from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 1st. 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Rush Street Interactive in a research note on Thursday, May 1st. Benchmark boosted their target price on shares of Rush Street Interactive from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Finally, Wells Fargo & Company raised their target price on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th.

Insider Buying and Selling at Rush Street Interactive

In related news, COO Mattias Stetz sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $10.84, for a total value of $216,800.00. Following the completion of the sale, the chief operating officer now owns 426,051 shares of the company’s stock, valued at approximately $4,618,392.84. The trade was a 4.48% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Richard Todd Schwartz sold 109,567 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $9.85, for a total value of $1,079,234.95. Following the completion of the transaction, the chief executive officer now owns 2,082,376 shares in the company, valued at $20,511,403.60. This represents a 5.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold 723,805 shares of company stock valued at $8,032,309 in the last quarter. Company insiders own 56.94% of the company’s stock.

Institutional Trading of Rush Street Interactive

Institutional investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. increased its stake in shares of Rush Street Interactive by 94.7% during the 1st quarter. Pacer Advisors Inc. now owns 2,533 shares of the company’s stock worth $27,000 after purchasing an additional 1,232 shares during the last quarter. R Squared Ltd bought a new stake in Rush Street Interactive in the fourth quarter worth $28,000. Summit Securities Group LLC bought a new stake in Rush Street Interactive in the first quarter worth $33,000. Heck Capital Advisors LLC acquired a new position in Rush Street Interactive during the fourth quarter worth $34,000. Finally, GAMMA Investing LLC raised its holdings in Rush Street Interactive by 1,687.6% during the first quarter. GAMMA Investing LLC now owns 6,507 shares of the company’s stock valued at $70,000 after buying an additional 6,143 shares in the last quarter. 24.78% of the stock is currently owned by institutional investors and hedge funds.

Rush Street Interactive Price Performance

Rush Street Interactive stock opened at $13.41 on Friday. Rush Street Interactive has a 12-month low of $8.52 and a 12-month high of $16.78. The stock has a market capitalization of $3.07 billion, a PE ratio of -670.55 and a beta of 1.85. The firm has a 50 day simple moving average of $11.87 and a 200-day simple moving average of $12.86.

Rush Street Interactive (NYSE:RSI) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. Rush Street Interactive had a negative return on equity of 3.73% and a negative net margin of 0.16%. The firm had revenue of $262.41 million during the quarter, compared to analyst estimates of $258.90 million. During the same period last year, the company posted $0.03 EPS. The firm’s quarterly revenue was up 20.7% on a year-over-year basis. On average, analysts forecast that Rush Street Interactive will post 0.04 earnings per share for the current fiscal year.

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.