Rush Street Interactive, Inc. (NYSE:RSI) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Rush Street Interactive, Inc. (NYSE:RSI) have received a consensus rating of “Moderate Buy” from the nine analysts that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $15.63.

RSI has been the topic of several analyst reports. Wells Fargo & Company upped their price target on Rush Street Interactive from $14.00 to $15.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. Macquarie reiterated an “outperform” rating and issued a $16.00 target price on shares of Rush Street Interactive in a research note on Friday, May 2nd. Susquehanna boosted their price target on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company a “positive” rating in a research report on Thursday, May 1st. Benchmark increased their price objective on Rush Street Interactive from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Finally, Needham & Company LLC restated a “buy” rating and set a $17.00 target price on shares of Rush Street Interactive in a research report on Thursday, May 1st.

Insiders Place Their Bets

In other news, CEO Richard Todd Schwartz sold 109,567 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $9.85, for a total transaction of $1,079,234.95. Following the sale, the chief executive officer now directly owns 2,082,376 shares in the company, valued at $20,511,403.60. This trade represents a 5.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Einar Roosileht sold 70,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $11.67, for a total value of $816,900.00. Following the completion of the transaction, the insider now owns 946,150 shares in the company, valued at $11,041,570.50. The trade was a 6.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 857,710 shares of company stock valued at $9,861,938. Insiders own 56.94% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of RSI. Jupiter Asset Management Ltd. lifted its stake in shares of Rush Street Interactive by 57.7% in the 1st quarter. Jupiter Asset Management Ltd. now owns 1,395,868 shares of the company’s stock valued at $14,964,000 after purchasing an additional 510,955 shares during the last quarter. XTX Topco Ltd lifted its position in Rush Street Interactive by 100.7% in the first quarter. XTX Topco Ltd now owns 54,817 shares of the company’s stock worth $588,000 after buying an additional 27,499 shares during the last quarter. Bryce Point Capital LLC purchased a new position in Rush Street Interactive during the first quarter worth $724,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Rush Street Interactive by 19.9% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,935 shares of the company’s stock worth $267,000 after buying an additional 4,133 shares during the period. Finally, Pacer Advisors Inc. increased its position in Rush Street Interactive by 94.7% during the first quarter. Pacer Advisors Inc. now owns 2,533 shares of the company’s stock valued at $27,000 after acquiring an additional 1,232 shares during the last quarter. 24.78% of the stock is owned by hedge funds and other institutional investors.

Rush Street Interactive Stock Down 0.2 %

NYSE RSI opened at $11.76 on Tuesday. The firm has a market cap of $2.68 billion, a P/E ratio of -588.00 and a beta of 1.88. The company’s 50 day moving average is $11.24 and its 200-day moving average is $12.69. Rush Street Interactive has a 12-month low of $8.29 and a 12-month high of $16.78.

Rush Street Interactive (NYSE:RSI) last issued its 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 net margin of 0.16% and a negative return on equity of 3.73%. The business had revenue of $262.41 million for the quarter, compared to analysts’ expectations of $258.90 million. During the same quarter in the previous year, the firm posted $0.03 EPS. The business’s revenue for the quarter was up 20.7% compared to the same quarter last year. Equities analysts expect that Rush Street Interactive will post 0.04 EPS for the current 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.