Rush Street Interactive (NYSE:RSI) Reaches New 12-Month High on Analyst Upgrade

Rush Street Interactive, Inc. (NYSE:RSI)’s share price reached a new 52-week high during trading on Thursday after Craig Hallum raised their price target on the stock from $8.00 to $10.00. Craig Hallum currently has a buy rating on the stock. Rush Street Interactive traded as high as $8.38 and last traded at $7.55, with a volume of 1319071 shares. The stock had previously closed at $6.42.

Other research analysts have also recently issued reports about the stock. Needham & Company LLC lifted their price objective on shares of Rush Street Interactive from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Thursday. Wells Fargo & Company lifted their price target on Rush Street Interactive from $8.00 to $9.00 and gave the company an “overweight” rating in a research note on Thursday. Oppenheimer upped their price objective on Rush Street Interactive from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Thursday. JMP Securities reiterated a “market perform” rating on shares of Rush Street Interactive in a research report on Friday, March 8th. Finally, Susquehanna reissued a “neutral” rating and issued a $6.00 target price (up previously from $5.00) on shares of Rush Street Interactive in a report on Monday, March 4th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $8.33.

Insider Activity

In other news, insider Paul Wierbicki sold 22,743 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $5.83, for a total transaction of $132,591.69. Following the sale, the insider now directly owns 174,982 shares in the company, valued at $1,020,145.06. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Rush Street Interactive news, CFO Kyle Sauers sold 15,983 shares of the company’s stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $6.11, for a total value of $97,656.13. Following the sale, the chief financial officer now owns 550,174 shares in the company, valued at approximately $3,361,563.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Paul Wierbicki sold 22,743 shares of Rush Street Interactive stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $5.83, for a total value of $132,591.69. Following the completion of the transaction, the insider now directly owns 174,982 shares in the company, valued at $1,020,145.06. The disclosure for this sale can be found here. In the last ninety days, insiders sold 331,552 shares of company stock worth $2,094,498. Insiders own 56.96% of the company’s stock.

Institutional Trading of Rush Street Interactive

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RSI. SG Americas Securities LLC bought a new stake in shares of Rush Street Interactive in the 3rd quarter valued at $52,000. Los Angeles Capital Management LLC bought a new stake in Rush Street Interactive during the third quarter valued at $611,000. Assenagon Asset Management S.A. grew its holdings in Rush Street Interactive by 32.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,836,077 shares of the company’s stock worth $8,483,000 after acquiring an additional 451,171 shares during the period. Jump Financial LLC raised its position in shares of Rush Street Interactive by 160.3% in the 3rd quarter. Jump Financial LLC now owns 83,289 shares of the company’s stock worth $385,000 after acquiring an additional 51,289 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in shares of Rush Street Interactive in the 3rd quarter valued at about $107,000. Institutional investors and hedge funds own 24.78% of the company’s stock.

Rush Street Interactive Trading Up 3.8 %

The firm has a 50-day moving average of $6.23 and a 200 day moving average of $5.10. The company has a market cap of $1.75 billion, a P/E ratio of -45.59 and a beta of 1.67.

Rush Street Interactive (NYSE:RSI) last posted its quarterly earnings results on Wednesday, March 6th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. The firm had revenue of $193.85 million for the quarter, compared to analysts’ expectations of $181.50 million. Rush Street Interactive had a negative return on equity of 15.85% and a negative net margin of 1.58%. On average, equities analysts predict that Rush Street Interactive, Inc. will post -0.22 EPS for the current year.

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.