Rush Street Interactive, Inc. (NYSE:RSI) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Rush Street Interactive, with nine buy ratings, three holds and one strong buy. The average 12-month price target is $35.22, above the reported $25.23 opening price.
• RSI’s latest quarterly results met EPS expectations at $0.15 and exceeded revenue estimates with $393.78 million, up 46.3% year over year.
• The stock has declined 2.6% and trades at a high valuation, with a P/E ratio of 86.99. Insiders sold 614,000 shares worth approximately $17.4 million over the past three months, while institutional investors—including BlackRock—made significant purchases.

Shares of Rush Street Interactive, Inc. (NYSE:RSI - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the thirteen ratings firms that are covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $35.2222.

Several brokerages have recently issued reports on RSI. Weiss Ratings raised Rush Street Interactive from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday. Citizens Jmp boosted their price target on shares of Rush Street Interactive from $33.00 to $34.00 and gave the stock a "market outperform" rating in a report on Thursday, July 30th. Jefferies Financial Group restated a "buy" rating and set a $39.00 price target on shares of Rush Street Interactive in a research report on Thursday, July 30th. Citigroup restated a "market outperform" rating on shares of Rush Street Interactive in a report on Thursday, July 30th. Finally, Needham & Company LLC lifted their price objective on shares of Rush Street Interactive from $33.00 to $36.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th.

Rush Street Interactive Stock Down 2.6%

RSI stock opened at $25.23 on Friday. The firm has a market cap of $5.85 billion, a PE ratio of 86.99 and a beta of 1.51. The business has a 50 day moving average of $27.82 and a 200-day moving average of $26.28. Rush Street Interactive has a 12-month low of $15.51 and a 12-month high of $34.53.

Rush Street Interactive (NYSE:RSI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.15 EPS for the quarter, hitting analysts' consensus estimates of $0.15. Rush Street Interactive had a return on equity of 18.88% and a net margin of 2.33%.The business had revenue of $393.78 million for the quarter, compared to analyst estimates of $367.75 million. During the same period last year, the company posted $0.11 earnings per share. Rush Street Interactive's quarterly revenue was up 46.3% compared to the same quarter last year. On average, research analysts expect that Rush Street Interactive will post 0.49 earnings per share for the current year.

Insider Activity

In related news, COO Mattias Stetz sold 20,000 shares of the company's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $31.22, for a total value of $624,400.00. Following the transaction, the chief operating officer owned 197,874 shares in the company, valued at approximately $6,177,626.28. This represents a 9.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Richard Schwartz sold 111,112 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $28.02, for a total value of $3,113,358.24. Following the transaction, the chief executive officer directly owned 421,258 shares of the company's stock, valued at approximately $11,803,649.16. This trade represents a 20.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 614,000 shares of company stock valued at $17,394,492 in the last three months. Company insiders own 52.89% of the company's stock.

Institutional Trading of Rush Street Interactive

Large investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Rush Street Interactive during the 2nd quarter valued at approximately $448,435,000. William Blair Investment Management LLC bought a new position in Rush Street Interactive in the 2nd quarter worth approximately $48,647,000. Arrowstreet Capital Limited Partnership grew its stake in Rush Street Interactive by 84.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,764,173 shares of the company's stock valued at $60,121,000 after buying an additional 1,267,622 shares in the last quarter. Bank of America Corp DE purchased a new position in Rush Street Interactive in the 2nd quarter valued at approximately $34,015,000. Finally, Cooper Creek Partners Management LLC bought a new stake in Rush Street Interactive during the 1st quarter valued at $24,874,000. 24.78% of the stock is owned by hedge funds and other institutional investors.

About Rush Street Interactive

Rush Street Interactive, Inc NYSE: RSI is an online gaming and sports betting company that operates digital casino, sportsbook and related gaming platforms. Its consumer-facing brands include BetRivers and PlaySugarHouse, which offer mobile and online wagering products such as sports betting, internet casino games and, in certain markets, online poker.

The company operates primarily in regulated markets across the United States and Canada, as well as select Latin American jurisdictions.

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