Rush Street Interactive (NYSE:RSI) Downgraded to Buy Rating by Wall Street Zen

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

A number of other equities research analysts have also recently commented on RSI. Weiss Ratings reissued a “hold (c)” rating on shares of Rush Street Interactive in a research note on Wednesday, October 8th. Oppenheimer reiterated an “outperform” rating and issued a $24.00 target price on shares of Rush Street Interactive in a report on Thursday, October 30th. Benchmark boosted their price target on shares of Rush Street Interactive from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, September 8th. Jefferies Financial Group upped their price objective on shares of Rush Street Interactive from $26.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Finally, Zacks Research raised shares of Rush Street Interactive from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 28th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.75.

Rush Street Interactive Trading Up 3.0%

Shares of NYSE RSI opened at $18.44 on Friday. The firm has a market capitalization of $4.23 billion, a P/E ratio of 73.76 and a beta of 1.86. The firm’s 50-day moving average price is $18.62 and its 200-day moving average price is $17.23. Rush Street Interactive has a 1-year low of $9.54 and a 1-year high of $22.65.

Rush Street Interactive (NYSE:RSI) last issued its earnings results on Wednesday, October 29th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.07 by $0.02. Rush Street Interactive had a return on equity of 17.11% and a net margin of 2.83%.The company had revenue of $277.91 million during the quarter, compared to the consensus estimate of $264.60 million. During the same period last year, the business posted $0.05 EPS. The firm’s revenue for the quarter was up 19.7% compared to the same quarter last year. Rush Street Interactive has set its FY 2025 guidance at EPS. Equities research analysts forecast that Rush Street Interactive will post 0.04 EPS for the current year.

Insider Buying and Selling at Rush Street Interactive

In related news, COO Mattias Stetz sold 30,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $17.09, for a total transaction of $512,700.00. Following the transaction, the chief operating officer directly owned 194,806 shares in the company, valued at approximately $3,329,234.54. The trade was a 13.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Einar Roosileht sold 70,000 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $21.47, for a total transaction of $1,502,900.00. Following the completion of the sale, the insider directly owned 876,150 shares of the company’s stock, valued at $18,810,940.50. The trade was a 7.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 826,753 shares of company stock worth $16,018,954. Corporate insiders own 56.94% of the company’s stock.

Hedge Funds Weigh In On Rush Street Interactive

Several institutional investors have recently modified their holdings of RSI. Danske Bank A S bought a new stake in Rush Street Interactive during the third quarter worth $1,267,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Rush Street Interactive during the 3rd quarter valued at $10,404,000. Oberweis Asset Management Inc. raised its stake in shares of Rush Street Interactive by 11.4% during the 3rd quarter. Oberweis Asset Management Inc. now owns 1,191,560 shares of the company’s stock worth $24,403,000 after purchasing an additional 121,860 shares during the period. Castleark Management LLC boosted its holdings in shares of Rush Street Interactive by 117.0% in the 3rd quarter. Castleark Management LLC now owns 281,986 shares of the company’s stock worth $5,775,000 after buying an additional 152,036 shares during the last quarter. Finally, XTX Topco Ltd grew its position in Rush Street Interactive by 173.7% during the third quarter. XTX Topco Ltd now owns 44,129 shares of the company’s stock valued at $904,000 after buying an additional 28,003 shares during the period. 24.78% of the stock is 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.