Citizens Jmp reissued their market outperform rating on shares of Rush Street Interactive (NYSE:RSI – Free Report) in a report issued on Tuesday morning,Benzinga reports. They currently have a $34.00 price objective on the stock.
Other equities research analysts have also issued research reports about the stock. Weiss Ratings upgraded shares of Rush Street Interactive from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, September 14th. Citigroup restated a “market outperform” rating on shares of Rush Street Interactive in a research note on Tuesday. JPMorgan Chase & Co. upped their target price on Rush Street Interactive from $26.00 to $30.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Wall Street Zen upgraded Rush Street Interactive from a “hold” rating to a “buy” rating in a research report on Sunday, September 13th. Finally, Oppenheimer raised their price target on Rush Street Interactive from $30.00 to $36.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Rush Street Interactive has a consensus rating of “Moderate Buy” and a consensus price target of $35.10.
Read Our Latest Analysis on RSI
Rush Street Interactive Price Performance
Rush Street Interactive (NYSE:RSI – Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported $0.15 earnings per share for the quarter, meeting the consensus estimate of $0.15. Rush Street Interactive had a net margin of 2.33% and a return on equity of 18.88%. The firm had revenue of $393.78 million during the quarter, compared to analyst estimates of $367.75 million. During the same quarter in the previous year, the firm earned $0.11 earnings per share. The firm’s revenue for the quarter was up 46.3% compared to the same quarter last year. As a group, research analysts anticipate that Rush Street Interactive will post 0.49 earnings per share for the current fiscal year.
Insider Activity at Rush Street Interactive
In other Rush Street Interactive news, CFO Kyle Sauers sold 23,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $26.56, for a total value of $610,880.00. Following the sale, the chief financial officer owned 606,526 shares in the company, valued at approximately $16,109,330.56. This trade represents a 3.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Mattias Stetz sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $25.68, for a total transaction of $513,600.00. Following the completion of the sale, the chief operating officer owned 157,874 shares in the company, valued at $4,054,204.32. The trade was a 11.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 604,000 shares of company stock worth $17,093,292 in the last ninety days. 52.89% of the stock is owned by insiders.
Hedge Funds Weigh In On Rush Street Interactive
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Tidal Investments LLC bought a new position in Rush Street Interactive in the 2nd quarter worth approximately $1,323,000. Integrated Wealth Concepts LLC acquired a new stake in Rush Street Interactive in the 2nd quarter valued at approximately $70,000. Allworth Financial LP raised its stake in Rush Street Interactive by 38.1% during the 2nd quarter. Allworth Financial LP now owns 1,917 shares of the company’s stock valued at $57,000 after acquiring an additional 529 shares in the last quarter. Arizona State Retirement System raised its stake in Rush Street Interactive by 11.4% during the 2nd quarter. Arizona State Retirement System now owns 30,002 shares of the company’s stock valued at $892,000 after acquiring an additional 3,081 shares in the last quarter. Finally, Corient Private Wealth LP boosted its position in Rush Street Interactive by 14.7% during the 2nd quarter. Corient Private Wealth LP now owns 75,364 shares of the company’s stock worth $2,241,000 after acquiring an additional 9,687 shares during the period. 24.78% of the stock is currently owned by institutional investors and hedge funds.
Rush Street Interactive Company Profile
Rush Street Interactive, Inc (NYSE: RSI) is an online gaming and sports betting company that operates digital casino, sportsbook and related gaming platforms. Its consumer-facing brands include BetRivers and PlaySugarHouse, which offer mobile and online wagering products such as sports betting, internet casino games and, in certain markets, online poker.
The company operates primarily in regulated markets across the United States and Canada, as well as select Latin American jurisdictions.
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