Rush Street Interactive (NYSE:RSI) Upgraded by Wall Street Zen to Strong-Buy Rating

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 Sunday morning.

Several other research analysts have also weighed in on RSI. Jefferies Financial Group lifted their price objective on Rush Street Interactive from $26.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Zacks Research raised Rush Street Interactive from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 28th. 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. JPMorgan Chase & Co. increased their price target on Rush Street Interactive from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, October 16th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Rush Street Interactive in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Rush Street Interactive has an average rating of “Moderate Buy” and an average target price of $20.75.

Rush Street Interactive Stock Performance

Shares of NYSE RSI opened at $18.36 on Friday. The company has a market capitalization of $4.21 billion, a P/E ratio of 73.42 and a beta of 1.65. Rush Street Interactive has a 52-week low of $9.54 and a 52-week high of $22.65. The company’s 50 day moving average price is $18.29 and its 200-day moving average price is $17.53.

Rush Street Interactive (NYSE:RSI) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.02. Rush Street Interactive had a net margin of 2.83% and a return on equity of 17.11%. The company had revenue of $277.91 million during the quarter, compared to analysts’ expectations of $264.60 million. During the same period in the prior year, the company posted $0.05 earnings per share. Rush Street Interactive’s revenue for the quarter was up 19.7% compared to the same quarter last year. Analysts forecast that Rush Street Interactive will post 0.04 earnings per share for the current year.

Insider Transactions at Rush Street Interactive

In related news, COO Mattias Stetz sold 30,000 shares of Rush Street Interactive stock in a transaction on Monday, December 1st. The shares were sold at an average price of $18.51, for a total value of $555,300.00. Following the completion of the sale, the chief operating officer owned 164,806 shares of the company’s stock, valued at approximately $3,050,559.06. This trade represents a 15.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Kyle Sauers sold 15,038 shares of the business’s stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $22.34, for a total transaction of $335,948.92. Following the sale, the chief financial officer owned 418,651 shares of the company’s stock, valued at $9,352,663.34. This trade represents a 3.47% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 620,015 shares of company stock worth $11,572,764. Insiders own 56.89% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Summit Securities Group LLC bought a new stake in shares of Rush Street Interactive during the first quarter worth about $33,000. Concord Wealth Partners acquired a new position in Rush Street Interactive during the 3rd quarter valued at about $41,000. Farther Finance Advisors LLC acquired a new position in Rush Street Interactive during the 2nd quarter valued at about $42,000. Osaic Holdings Inc. increased its holdings in Rush Street Interactive by 62.2% during the 2nd quarter. Osaic Holdings Inc. now owns 4,872 shares of the company’s stock worth $73,000 after purchasing an additional 1,868 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new stake in Rush Street Interactive during the 2nd quarter worth approximately $90,000. 24.78% of the stock is currently owned by institutional investors and hedge funds.

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.