Rush Street Interactive (NYSE:RSI) Trading Up 3.9% – Still a Buy?

Rush Street Interactive, Inc. (NYSE:RSI)’s share price traded up 3.9% on Wednesday . The company traded as high as $12.32 and last traded at $12.41. 432,774 shares traded hands during trading, a decline of 77% from the average session volume of 1,848,034 shares. The stock had previously closed at $11.94.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Susquehanna increased their price target on Rush Street Interactive from $14.00 to $15.00 and gave the stock a “positive” rating in a research note on Thursday, May 1st. Wall Street Zen raised Rush Street Interactive from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Needham & Company LLC reissued a “buy” rating and set a $17.00 price target on shares of Rush Street Interactive in a research note on Thursday, May 1st. Wells Fargo & Company increased their price target on Rush Street Interactive from $14.00 to $15.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Finally, Benchmark increased their price target 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 equities research 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 data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $15.63.

Rush Street Interactive Stock Performance

The firm has a market capitalization of $2.86 billion, a price-to-earnings ratio of -624.50 and a beta of 1.88. The business has a fifty day moving average price of $11.59 and a 200 day moving average price of $12.81.

Rush Street Interactive (NYSE:RSI) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $258.90 million. During the same period in the prior year, the firm earned $0.03 EPS. The firm’s quarterly revenue was up 20.7% compared to the same quarter last year. On average, analysts expect that Rush Street Interactive, Inc. will post 0.04 earnings per share for the current year.

Insider Activity at Rush Street Interactive

In other news, COO Mattias Stetz sold 25,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $11.73, for a total transaction of $293,250.00. Following the completion of the sale, the chief operating officer now directly owns 531,089 shares in the company, valued at $6,229,673.97. This trade represents a 4.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Einar Roosileht sold 70,000 shares of the firm’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 sale, the insider now owns 946,150 shares of the company’s stock, valued at $11,041,570.50. This represents a 6.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 723,805 shares of company stock worth $7,957,809. Corporate insiders own 56.94% of the company’s stock.

Hedge Funds Weigh In On Rush Street Interactive

Several large investors have recently modified their holdings of RSI. Pacer Advisors Inc. lifted its position in shares of Rush Street Interactive by 94.7% during the first quarter. Pacer Advisors Inc. now owns 2,533 shares of the company’s stock worth $27,000 after purchasing an additional 1,232 shares during the last quarter. R Squared Ltd bought a new position in shares of Rush Street Interactive during the fourth quarter worth about $28,000. Summit Securities Group LLC bought a new position in Rush Street Interactive in the first quarter worth about $33,000. Heck Capital Advisors LLC bought a new position in Rush Street Interactive in the fourth quarter worth about $34,000. Finally, GAMMA Investing LLC lifted its holdings in Rush Street Interactive by 1,687.6% in the first quarter. GAMMA Investing LLC now owns 6,507 shares of the company’s stock worth $70,000 after acquiring an additional 6,143 shares during the last quarter. Institutional investors own 24.78% of the company’s stock.

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.