Rush Street Interactive (NYSE:RSI) Announces Quarterly Earnings Results, Hits Expectations

Key Points

• Rush Street Interactive reported quarterly EPS of $0.13, matching analysts’ consensus estimate. The company posted a 2.33% net margin and 18.88% return on equity.
• Shares traded down to $15.01, near their 52-week low of $14.82, while the stock’s market capitalization stood at approximately $3.48 billion.
• Analyst sentiment remained positive overall, with a consensus rating of “Moderate Buy” and an average price target of $31.33, despite some recent target-price reductions. Insiders sold roughly $14.8 million of shares over the past three months.

Rush Street Interactive (NYSE:RSI - Get Free Report) announced its quarterly earnings results on Wednesday. The company reported $0.13 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.13, Zacks reports. Rush Street Interactive had a net margin of 2.33% and a return on equity of 18.88%.

Rush Street Interactive Stock Performance

Shares of NYSE:RSI traded down $0.40 during trading on Wednesday, hitting $15.01. The company's stock had a trading volume of 6,086,306 shares, compared to its average volume of 2,523,920. The company has a market capitalization of $3.48 billion, a PE ratio of 51.75 and a beta of 1.71. Rush Street Interactive has a fifty-two week low of $14.82 and a fifty-two week high of $34.53. The stock's 50-day moving average price is $22.22 and its two-hundred day moving average price is $23.82.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on RSI shares. New Street Research set a $35.00 target price on Rush Street Interactive in a research note on Thursday, July 23rd. Jefferies Financial Group reissued a "buy" rating and set a $39.00 price target on shares of Rush Street Interactive in a research note on Thursday, July 30th. Citizens Jmp restated a "market outperform" rating and set a $34.00 price objective on shares of Rush Street Interactive in a report on Tuesday, September 22nd. JPMorgan Chase & Co. cut their price target on shares of Rush Street Interactive from $30.00 to $22.00 and set a "neutral" rating on the stock in a research note on Tuesday, October 20th. Finally, Susquehanna cut their price objective on Rush Street Interactive from $37.00 to $27.00 and set a "positive" rating on the stock in a report on Friday, October 9th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $31.33.

Insider Activity at Rush Street Interactive

In other Rush Street Interactive news, CFO Kyle Sauers sold 23,000 shares of the stock in a transaction on Monday, October 5th. The shares were sold at an average price of $20.31, for a total transaction of $467,130.00. Following the transaction, the chief financial officer directly owned 583,526 shares in the company, valued at $11,851,413.06. This represents a 3.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Richard Schwartz sold 111,110 shares of the company's stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $19.88, for a total transaction of $2,208,866.80. Following the completion of the sale, the chief executive officer owned 421,258 shares in the company, valued at approximately $8,374,609.04. This trade represents a 20.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 603,998 shares of company stock worth $14,814,268 over the last three months. 52.89% of the stock is owned by corporate insiders.

Rush Street Interactive Company Profile

Rush Street Interactive, Inc is an online gaming and sports betting company that operates regulated internet casino and sportsbook platforms. Its primary consumer brands include BetRivers, PlaySugarHouse and RushBet, offering online casino games, sports wagering and related digital gaming products through websites and mobile applications.

The company serves customers in regulated markets across the United States and Latin America, with operations also extending to select international jurisdictions.

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