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

Rush Street Interactive, Inc. (NYSE:RSI) has been given a consensus recommendation of “Moderate Buy” by the six analysts that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $7.50.

A number of equities analysts have recently issued reports on RSI shares. Oppenheimer increased their price objective on shares of Rush Street Interactive from $7.00 to $9.00 and gave the company an “outperform” rating in a research note on Thursday, March 7th. JMP Securities restated a “market perform” rating on shares of Rush Street Interactive in a research note on Friday, March 8th. Susquehanna reaffirmed 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. Needham & Company LLC increased their target price on Rush Street Interactive from $6.00 to $8.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. Finally, 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.

Insiders Place Their Bets

In related news, COO Mattias Stetz sold 5,001 shares of the business’s stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $6.11, for a total transaction of $30,556.11. Following the completion of the sale, the chief operating officer now directly owns 606,730 shares of the company’s stock, valued at $3,707,120.30. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, COO Mattias Stetz sold 5,001 shares of Rush Street Interactive stock in a transaction on Friday, April 19th. The stock was sold at an average price of $6.11, for a total transaction of $30,556.11. Following the completion of the sale, the chief operating officer now directly owns 606,730 shares of the company’s stock, valued at $3,707,120.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Richard Todd Schwartz sold 38,687 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $5.83, for a total value of $225,545.21. Following the completion of the transaction, the chief executive officer now directly owns 2,256,569 shares in the company, valued at approximately $13,155,797.27. The disclosure for this sale can be found here. In the last three months, insiders sold 331,552 shares of company stock valued at $2,094,498. 56.96% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Rush Street Interactive

Several institutional investors and hedge funds have recently made changes to their positions in RSI. SG Americas Securities LLC acquired a new position in shares of Rush Street Interactive in the 3rd quarter valued at approximately $52,000. Allspring Global Investments Holdings LLC lifted its stake in Rush Street Interactive by 13,627.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 11,943 shares of the company’s stock valued at $78,000 after buying an additional 11,856 shares in the last quarter. Aigen Investment Management LP acquired a new position in shares of Rush Street Interactive in the fourth quarter valued at approximately $90,000. Tower Research Capital LLC TRC boosted its holdings in shares of Rush Street Interactive by 665.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 21,923 shares of the company’s stock valued at $98,000 after buying an additional 19,058 shares during the period. Finally, Fox Run Management L.L.C. bought a new stake in shares of Rush Street Interactive during the third quarter worth $107,000. Institutional investors and hedge funds own 24.78% of the company’s stock.

Rush Street Interactive Stock Performance

NYSE RSI opened at $5.95 on Friday. The stock has a 50-day simple moving average of $6.15 and a 200 day simple moving average of $5.01. Rush Street Interactive has a twelve month low of $2.85 and a twelve month high of $7.31. The stock has a market capitalization of $1.33 billion, a PE ratio of -22.04 and a beta of 1.71.

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

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.