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

Shares of Rush Street Interactive, Inc. (NYSE:RSI - Get Free Report) have earned a consensus rating of "Moderate Buy" from the five brokerages that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $7.40.

RSI has been the topic of a number of recent analyst reports. Oppenheimer increased their price target on Rush Street Interactive from $7.00 to $9.00 and gave the stock an "outperform" rating in a research report on Thursday, March 7th. JMP Securities reissued a "market perform" rating on shares of Rush Street Interactive in a research note on Friday, March 8th. Susquehanna restated a "neutral" rating and set a $6.00 price objective (up from $5.00) on shares of Rush Street Interactive in a research report on Monday, March 4th. Wells Fargo & Company lifted their target price on shares of Rush Street Interactive from $7.00 to $8.00 and gave the company an "overweight" rating in a research report on Thursday, March 7th. Finally, Needham & Company LLC upped their price target on shares of Rush Street Interactive from $6.00 to $8.00 and gave the stock a "buy" rating in a research report on Thursday, March 7th.

Rush Street Interactive Price Performance

RSI traded up $0.28 during trading on Monday, reaching $6.79. 2,010,944 shares of the company's stock were exchanged, compared to its average volume of 1,239,103. Rush Street Interactive has a 1 year low of $2.77 and a 1 year high of $7.31. The company's fifty day simple moving average is $5.79 and its 200-day simple moving average is $4.78. The stock has a market capitalization of $1.51 billion, a P/E ratio of -25.15 and a beta of 1.71.

Rush Street Interactive (NYSE:RSI - Get Free Report) last announced 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 return on equity of 28.95% and a negative net margin of 2.65%. The company had revenue of $193.85 million during the quarter, compared to the consensus estimate of $181.50 million. Equities analysts forecast that Rush Street Interactive will post -0.22 EPS for the current year.

Insider Buying and Selling at Rush Street Interactive

In related news, COO Mattias Stetz sold 88,431 shares of Rush Street Interactive stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $6.42, for a total transaction of $567,727.02. Following the transaction, the chief operating officer now owns 603,614 shares in the company, valued at $3,875,201.88. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, COO Mattias Stetz sold 88,431 shares of the company's stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $6.42, for a total value of $567,727.02. Following the completion of the sale, the chief operating officer now owns 603,614 shares of the company's stock, valued at $3,875,201.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard Todd Schwartz sold 38,687 shares of Rush Street Interactive stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $5.83, for a total transaction of $225,545.21. Following the transaction, the chief executive officer now directly owns 2,256,569 shares in the company, valued at $13,155,797.27. The disclosure for this sale can be found here. In the last quarter, insiders sold 184,880 shares of company stock worth $1,130,025. Insiders own 56.96% of the company's stock.

Institutional Trading of Rush Street Interactive

Hedge funds and other institutional investors have recently modified their holdings of the business. Swiss National Bank increased its holdings in Rush Street Interactive by 7.2% in the 1st quarter. Swiss National Bank now owns 126,100 shares of the company's stock valued at $917,000 after purchasing an additional 8,500 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Rush Street Interactive by 36.5% in the first quarter. JPMorgan Chase & Co. now owns 33,654 shares of the company's stock valued at $244,000 after buying an additional 9,007 shares in the last quarter. MetLife Investment Management LLC raised its holdings in shares of Rush Street Interactive by 58.5% in the 1st quarter. MetLife Investment Management LLC now owns 34,711 shares of the company's stock valued at $252,000 after buying an additional 12,811 shares during the period. Rhumbline Advisers lifted its stake in Rush Street Interactive by 16.2% during the 1st quarter. Rhumbline Advisers now owns 51,874 shares of the company's stock worth $377,000 after acquiring an additional 7,219 shares in the last quarter. Finally, BlackRock Inc. boosted its holdings in Rush Street Interactive by 0.9% during the 1st quarter. BlackRock Inc. now owns 3,510,602 shares of the company's stock valued at $25,522,000 after acquiring an additional 30,403 shares during the period. 24.78% of the stock is owned by institutional investors and hedge funds.

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.