Analysts Set Rush Street Interactive, Inc. (NYSE:RSI) PT at $8.50

Rush Street Interactive, Inc. (NYSE:RSI) has earned an average rating of “Moderate Buy” from the six ratings firms that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $8.50.

A number of analysts have recently issued reports on the company. JMP Securities reaffirmed a “market perform” rating on shares of Rush Street Interactive in a research note on Friday, March 8th. Oppenheimer lifted 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, May 2nd. Craig Hallum lifted their price objective on Rush Street Interactive from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Susquehanna reiterated a “neutral” rating and set a $6.00 price objective (up previously from $5.00) on shares of Rush Street Interactive in a research report on Monday, March 4th. Finally, Needham & Company LLC lifted their price objective on Rush Street Interactive from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, May 17th.

Insider Buying and Selling at Rush Street Interactive

In other Rush Street Interactive news, CFO Kyle Sauers sold 15,983 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 value of $97,656.13. Following the sale, the chief financial officer now owns 550,174 shares in the company, valued at $3,361,563.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Richard Todd Schwartz sold 101,951 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $6.78, for a total value of $691,227.78. Following the sale, the chief executive officer now owns 2,154,618 shares in the company, valued at approximately $14,608,310.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kyle Sauers sold 15,983 shares of the business’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $6.11, for a total value of $97,656.13. Following the completion of the sale, the chief financial officer now owns 550,174 shares in the company, valued at approximately $3,361,563.14. The disclosure for this sale can be found here. Insiders have sold 331,552 shares of company stock worth $2,094,498 over the last quarter. 56.96% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rush Street Interactive

Several institutional investors and hedge funds have recently modified their holdings of RSI. FMR LLC raised its holdings in shares of Rush Street Interactive by 4,395.9% in the 3rd quarter. FMR LLC now owns 1,888,355 shares of the company’s stock valued at $8,724,000 after buying an additional 1,846,353 shares during the period. HG Vora Capital Management LLC grew its stake in Rush Street Interactive by 16.7% during the 4th quarter. HG Vora Capital Management LLC now owns 7,000,000 shares of the company’s stock worth $31,430,000 after purchasing an additional 1,000,000 shares in the last quarter. Nomura Holdings Inc. grew its stake in Rush Street Interactive by 24.7% during the 4th quarter. Nomura Holdings Inc. now owns 4,184,373 shares of the company’s stock worth $18,788,000 after purchasing an additional 828,984 shares in the last quarter. Assenagon Asset Management S.A. grew its stake 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 purchasing an additional 451,171 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Rush Street Interactive during the 1st quarter worth $1,673,000. Hedge funds and other institutional investors own 24.78% of the company’s stock.

Rush Street Interactive Price Performance

Shares of NYSE:RSI opened at $8.45 on Tuesday. The business’s 50 day moving average price is $7.08 and its 200-day moving average price is $5.61. The firm has a market capitalization of $1.90 billion, a PE ratio of -49.71 and a beta of 1.67. Rush Street Interactive has a 1 year low of $2.88 and a 1 year high of $9.04.

Rush Street Interactive (NYSE:RSI) last issued its quarterly earnings results on Wednesday, May 1st. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.04. The firm had revenue of $217.43 million for the quarter, compared to analyst estimates of $203.05 million. Rush Street Interactive had a negative return on equity of 15.68% and a negative net margin of 1.58%. As a group, analysts expect that Rush Street Interactive will post -0.05 earnings per share for the current 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.