Rush Street Interactive (NYSE:RSI) Rating Increased to Buy at Craig Hallum

Rush Street Interactive (NYSE:RSI) was upgraded by research analysts at Craig Hallum from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, MarketBeat.com reports. The firm currently has a $8.00 target price on the stock, up from their previous target price of $7.00. Craig Hallum’s price objective would indicate a potential upside of 33.78% from the company’s previous close.

A number of other brokerages have also recently issued reports on RSI. Susquehanna reiterated a “neutral” rating and issued a $6.00 price target (up previously from $5.00) on shares of Rush Street Interactive in a research note on Monday, March 4th. Oppenheimer raised their price target on shares of Rush Street Interactive from $7.00 to $9.00 and gave the company an “outperform” rating in a research report on Thursday, March 7th. Needham & Company LLC boosted their price objective on shares of Rush Street Interactive from $6.00 to $8.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. JMP Securities reiterated a “market perform” rating on shares of Rush Street Interactive in a research note on Friday, March 8th. Finally, Wells Fargo & Company boosted their price target on Rush Street Interactive from $7.00 to $8.00 and gave the stock an “overweight” rating in a research note on Thursday, March 7th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Rush Street Interactive has a consensus rating of “Moderate Buy” and a consensus price target of $7.50.

Rush Street Interactive Price Performance

NYSE:RSI opened at $5.98 on Friday. The firm’s 50-day moving average price is $6.13 and its 200-day moving average price is $4.97. The company has a market capitalization of $1.33 billion, a PE ratio of -22.15 and a beta of 1.71. Rush Street Interactive has a 1-year low of $2.85 and a 1-year high of $7.31.

Rush Street Interactive (NYSE:RSI) last posted its quarterly earnings data on Wednesday, March 6th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.01. Rush Street Interactive had a negative net margin of 2.65% and a negative return on equity of 28.95%. The business had revenue of $193.85 million for the quarter, compared to analyst estimates of $181.50 million. Equities analysts anticipate that Rush Street Interactive will post -0.22 EPS for the current fiscal year.

Insider Buying and Selling at Rush Street Interactive

In other news, insider Paul Wierbicki sold 22,743 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $5.83, for a total value of $132,591.69. Following the completion of the transaction, the insider now owns 174,982 shares of the company’s stock, valued at $1,020,145.06. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Paul Wierbicki sold 22,743 shares of the firm’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $5.83, for a total transaction of $132,591.69. Following the completion of the transaction, the insider now directly owns 174,982 shares of the company’s stock, valued at $1,020,145.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard Todd Schwartz sold 38,687 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $5.83, for a total value of $225,545.21. Following the transaction, the chief executive officer now owns 2,256,569 shares of the company’s stock, valued at approximately $13,155,797.27. The disclosure for this sale can be found here. Insiders have sold 331,552 shares of company stock valued at $2,094,498 over the last 90 days. 56.96% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its stake in Rush Street Interactive by 13,627.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 11,943 shares of the company’s stock valued at $78,000 after purchasing an additional 11,856 shares in the last quarter. Nomura Holdings Inc. lifted its stake in shares of Rush Street Interactive by 24.7% in the 4th quarter. Nomura Holdings Inc. now owns 4,184,373 shares of the company’s stock valued at $18,788,000 after purchasing an additional 828,984 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Rush Street Interactive by 3.8% in the 4th quarter. Vanguard Group Inc. now owns 5,395,483 shares of the company’s stock worth $24,226,000 after purchasing an additional 195,985 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Rush Street Interactive by 0.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,000,151 shares of the company’s stock valued at $13,471,000 after purchasing an additional 19,261 shares during the last quarter. Finally, Barclays PLC raised its holdings in Rush Street Interactive by 265.3% during the 4th quarter. Barclays PLC now owns 135,581 shares of the company’s stock valued at $609,000 after buying an additional 98,465 shares during the period. 24.78% of the stock is currently owned by institutional investors.

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.