Rush Street Interactive (NYSE:RSI) Sets New 1-Year High on Analyst Upgrade

Rush Street Interactive, Inc. (NYSE:RSI - Get Free Report) hit a new 52-week high during mid-day 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 trading hands. The stock had previously closed at $6.42.

RSI has been the subject of a number of other reports. Needham & Company LLC lifted their price objective on shares of Rush Street Interactive from $8.00 to $9.00 and gave the stock a "buy" rating in a research note on Thursday. JMP Securities reaffirmed a "market perform" rating on shares of Rush Street Interactive in a research note on Friday, March 8th. Wells Fargo & Company lifted their price target on shares of Rush Street Interactive from $8.00 to $9.00 and gave the stock an "overweight" rating in a research note on Thursday. Susquehanna reaffirmed a "neutral" rating and set a $6.00 price target (up from $5.00) on shares of Rush Street Interactive in a research note on Monday, March 4th. Finally, Oppenheimer lifted their price target on shares of Rush Street Interactive from $9.00 to $10.00 and gave the stock an "outperform" rating in a research note on Thursday. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $8.33.

Insider Buying and Selling at Rush Street Interactive

In other news, CEO Richard Todd Schwartz sold 101,951 shares of the business's stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $6.78, for a total value of $691,227.78. Following the completion of 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 SEC, which is available at the SEC website. In other news, insider Paul Wierbicki sold 22,743 shares of the business's stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $5.83, for a total value of $132,591.69. Following the completion of the sale, the insider now owns 174,982 shares in the company, valued at approximately $1,020,145.06. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Richard Todd Schwartz sold 101,951 shares of the business's stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $6.78, for a total transaction of $691,227.78. Following the completion of the sale, the chief executive officer now owns 2,154,618 shares of the company's stock, valued at approximately $14,608,310.04. The disclosure for this sale can be found here. Insiders sold a total of 331,552 shares of company stock valued at $2,094,498 in the last three months. Company insiders own 56.96% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Rush Street Interactive during the 1st quarter worth approximately $148,000. North Star Investment Management Corp. raised its stake in shares of Rush Street Interactive by 303.9% during the 1st quarter. North Star Investment Management Corp. now owns 20,600 shares of the company's stock worth $134,000 after acquiring an additional 15,500 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Rush Street Interactive by 13,627.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,943 shares of the company's stock worth $78,000 after acquiring an additional 11,856 shares in the last quarter. Cornerstone Investment Partners LLC bought a new position in shares of Rush Street Interactive during the 1st quarter worth approximately $184,000. Finally, Mesirow Financial Investment Management Inc. bought a new position in shares of Rush Street Interactive during the 1st quarter worth approximately $167,000. Institutional investors own 24.78% of the company's stock.

Rush Street Interactive Stock Performance

The stock has a market cap of $1.68 billion, a P/E ratio of -28.15 and a beta of 1.67. The firm's 50 day moving average is $6.19 and its 200 day moving average is $5.08.

Rush Street Interactive (NYSE:RSI - Get Free Report) last issued its quarterly earnings results on Wednesday, March 6th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $193.85 million for the quarter, compared to analyst estimates of $181.50 million. As a group, analysts expect that Rush Street Interactive, Inc. 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.