Rush Street Interactive (NYSE:RSI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Rush Street Interactive (NYSE:RSI) from a buy rating to a strong-buy rating in a research report sent to investors on Saturday morning.

Several other brokerages also recently issued reports on RSI. Susquehanna lifted their target price on Rush Street Interactive from $14.00 to $15.00 and gave the company a “positive” rating in a research note on Thursday, May 1st. Wells Fargo & Company lifted their target price on Rush Street Interactive from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. 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. Macquarie reaffirmed an “outperform” rating and issued a $16.00 price objective on shares of Rush Street Interactive in a research note on Friday, May 2nd. Finally, Benchmark lifted their price objective on Rush Street Interactive from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Rush Street Interactive currently has an average rating of “Buy” and a consensus price target of $15.63.

Rush Street Interactive Stock Up 0.6%

RSI stock opened at $11.85 on Friday. Rush Street Interactive has a twelve month low of $8.52 and a twelve month high of $16.78. The stock has a market cap of $2.71 billion, a P/E ratio of -592.25 and a beta of 1.88. The business’s 50-day moving average price is $11.57 and its 200-day moving average price is $12.81.

Rush Street Interactive (NYSE:RSI) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.09 earnings per share 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 for the quarter, compared to analysts’ expectations of $258.90 million. During the same period in the previous year, the firm earned $0.03 EPS. The business’s quarterly revenue was up 20.7% on a year-over-year basis. On average, equities research analysts expect that Rush Street Interactive will post 0.04 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Einar Roosileht sold 9,300 shares of the business’s stock in a transaction that occurred on Wednesday, April 9th. The stock was sold at an average price of $12.00, for a total transaction of $111,600.00. Following the transaction, the insider now owns 946,850 shares of the company’s stock, valued at approximately $11,362,200. The trade was a 0.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Mattias Stetz sold 3,777 shares of the business’s stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $12.08, for a total value of $45,626.16. Following the transaction, the chief operating officer now directly owns 421,051 shares in the company, valued at approximately $5,086,296.08. This represents a 0.89% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 723,805 shares of company stock valued at $7,957,809. 56.94% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Rush Street Interactive

Large investors have recently modified their holdings of the stock. Exchange Traded Concepts LLC boosted its holdings in Rush Street Interactive by 0.4% during the 4th quarter. Exchange Traded Concepts LLC now owns 260,380 shares of the company’s stock valued at $3,572,000 after acquiring an additional 1,087 shares during the period. Arizona State Retirement System boosted its holdings in Rush Street Interactive by 5.4% during the 1st quarter. Arizona State Retirement System now owns 24,145 shares of the company’s stock valued at $259,000 after acquiring an additional 1,232 shares during the period. Pacer Advisors Inc. boosted its holdings in Rush Street Interactive by 94.7% during the 1st 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 period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Rush Street Interactive by 3.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,270 shares of the company’s stock valued at $594,000 after acquiring an additional 1,632 shares during the period. Finally, R Squared Ltd purchased a new position in Rush Street Interactive during the 4th quarter valued at $28,000. Institutional investors own 24.78% of the company’s stock.

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.