Rush Street Interactive (NYSE:RSI) Rating Increased to Buy at Craig Hallum

Craig Hallum upgraded shares of Rush Street Interactive (NYSE:RSI) from a hold rating to a buy rating in a research report sent to investors on Friday, MarketBeat reports. Craig Hallum currently has $8.00 target price on the stock, up from their prior target price of $7.00.

Several other brokerages have also recently commented on RSI. Wells Fargo & Company raised their target price on Rush Street Interactive from $7.00 to $8.00 and gave the stock an overweight rating in a research report on Thursday, March 7th. JMP Securities reissued a market perform rating on shares of Rush Street Interactive in a report on Friday, March 8th. Susquehanna reissued a neutral rating and set a $6.00 price objective (up from $5.00) on shares of Rush Street Interactive in a report on Monday, March 4th. Oppenheimer lifted their price objective on Rush Street Interactive from $7.00 to $9.00 and gave the company an outperform rating in a report on Thursday, March 7th. Finally, Needham & Company LLC lifted their price objective on Rush Street Interactive from $6.00 to $8.00 and gave the company a buy rating in a report on Thursday, March 7th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $7.50.

Rush Street Interactive Price Performance

Shares of RSI stock opened at $5.98 on Friday. The stock has a market cap of $1.33 billion, a P/E ratio of -22.13 and a beta of 1.71. Rush Street Interactive has a one year low of $2.85 and a one year high of $7.31. The stock has a fifty day moving average price of $6.13 and a 200 day moving average price of $4.96.

Rush Street Interactive (NYSE:RSI) last issued its earnings results on Wednesday, March 6th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.01. The firm had revenue of $193.85 million during the quarter, compared to analysts’ expectations of $181.50 million. Rush Street Interactive had a negative return on equity of 28.95% and a negative net margin of 2.65%. Equities research analysts anticipate that Rush Street Interactive will post -0.22 EPS for the current year.

Insider Activity

In other news, COO Mattias Stetz sold 13,657 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $5.83, for a total value of $79,620.31. Following the completion of the sale, the chief operating officer now directly owns 692,045 shares in the company, valued at $4,034,622.35. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, COO Mattias Stetz sold 13,657 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $5.83, for a total value of $79,620.31. Following the completion of the sale, the chief operating officer now directly owns 692,045 shares in the company, valued at $4,034,622.35. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Richard Todd Schwartz sold 101,951 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $6.78, for a total value of $691,227.78. Following the completion of the sale, the chief executive officer now owns 2,154,618 shares of the company’s stock, valued at $14,608,310.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 331,552 shares of company stock worth $2,094,498. 56.96% of the stock is owned by corporate insiders.

Institutional Trading of Rush Street Interactive

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vident Investment Advisory LLC acquired a new stake in Rush Street Interactive in the fourth quarter worth about $39,000. Boothbay Fund Management LLC acquired a new stake in Rush Street Interactive in the second quarter worth about $41,000. Schonfeld Strategic Advisors LLC acquired a new stake in Rush Street Interactive in the second quarter worth about $46,000. UBS Group AG increased its position in Rush Street Interactive by 357.1% in the fourth quarter. UBS Group AG now owns 13,943 shares of the company’s stock worth $50,000 after purchasing an additional 10,893 shares during the period. Finally, Verition Fund Management LLC acquired a new stake in Rush Street Interactive in the second quarter worth about $51,000. 24.78% of the stock is currently owned by institutional investors and hedge funds.

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.