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

Posted by on Jun 24th, 2022

Rush Street Interactive, Inc. (NYSE:RSI – Get Rating) has earned an average recommendation of “Moderate Buy” from the eight analysts that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $15.75.

Several analysts have recently commented on the stock. Wells Fargo & Company raised shares of Rush Street Interactive from an “equal weight” rating to an “overweight” rating and set a $10.00 price target on the stock in a research report on Wednesday, April 27th. Craig Hallum lowered shares of Rush Street Interactive from a “buy” rating to a “hold” rating and set a $10.00 price target on the stock. in a research report on Thursday, March 3rd. Benchmark reduced their price target on shares of Rush Street Interactive from $27.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, March 10th. Needham & Company LLC reduced their price target on shares of Rush Street Interactive from $17.00 to $12.00 and set a “buy” rating on the stock in a research report on Thursday, March 3rd. Finally, Oppenheimer reduced their price target on shares of Rush Street Interactive from $14.00 to $11.00 in a research report on Thursday, March 3rd.

In other Rush Street Interactive news, major shareholder Gregory A. Carlin sold 80,894 shares of the business’s stock in a transaction that occurred on Thursday, May 26th. The stock was sold at an average price of $6.07, for a total value of $491,026.58. Following the sale, the insider now owns 3,169,106 shares of the company’s stock, valued at $19,236,473.42. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders sold 87,713 shares of company stock worth $540,192. 76.06% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rockefeller Capital Management L.P. purchased a new stake in Rush Street Interactive in the fourth quarter valued at approximately $81,000. Lindbrook Capital LLC purchased a new stake in shares of Rush Street Interactive during the fourth quarter worth $109,000. Exos Asset Management LLC increased its position in shares of Rush Street Interactive by 17.7% during the first quarter. Exos Asset Management LLC now owns 9,989 shares of the company’s stock worth $73,000 after acquiring an additional 1,500 shares during the period. Teacher Retirement System of Texas purchased a new stake in shares of Rush Street Interactive during the fourth quarter worth $169,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Rush Street Interactive by 66.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,264 shares of the company’s stock worth $169,000 after acquiring an additional 4,114 shares during the period. 36.45% of the stock is currently owned by institutional investors.

Shares of Rush Street Interactive stock opened at $4.71 on Friday. The stock has a market cap of $1.04 billion, a P/E ratio of -8.41 and a beta of 1.80. The stock’s 50 day simple moving average is $5.79 and its 200-day simple moving average is $9.26. Rush Street Interactive has a 1-year low of $4.06 and a 1-year high of $21.83.

Rush Street Interactive (NYSE:RSI – Get Rating) last issued its earnings results on Wednesday, May 4th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.05). The company had revenue of $134.94 million for the quarter, compared to analyst estimates of $135.40 million. Rush Street Interactive had a negative return on equity of 16.88% and a negative net margin of 6.68%. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.08) earnings per share. As a group, research analysts forecast that Rush Street Interactive will post -0.45 earnings per share for the current fiscal year.

Rush Street Interactive Company Profile (Get Rating)

Rush Street Interactive, Inc operates as an online casino and sports betting company in the United States and 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.

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Analyst Recommendations for Rush Street Interactive (NYSE:RSI)

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