Rush Street Interactive (NYSE:RSI) Lifted to "Buy" at Craig Hallum

Craig Hallum upgraded shares of Rush Street Interactive (NYSE:RSI - Free Report) from a hold rating to a buy rating in a research report report published on Friday, Marketbeat Ratings reports. They currently have $8.00 target price on the stock, up from their previous target price of $7.00.

Several other research analysts have also commented on RSI. Wells Fargo & Company lifted their price target on Rush Street Interactive from $7.00 to $8.00 and gave the stock an overweight rating in a research report on Thursday, March 7th. Oppenheimer lifted 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 reaffirmed a market perform rating on shares of Rush Street Interactive in a research report on Friday, March 8th. Needham & Company LLC lifted their price target on Rush Street Interactive from $6.00 to $8.00 and gave the stock a buy rating in a research report on Thursday, March 7th. Finally, Susquehanna reissued a neutral rating and issued a $6.00 target price (up previously from $5.00) on shares of Rush Street Interactive in a report on Monday, March 4th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $7.50.

Rush Street Interactive Trading Down 2.8 %

RSI stock traded down $0.18 during trading on Friday, hitting $5.98. 1,270,759 shares of the company's stock were exchanged, compared to its average volume of 1,213,334. The business has a 50-day moving average price of $6.13 and a two-hundred day moving average price of $4.96. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of -22.13 and a beta of 1.71. Rush Street Interactive has a 52-week low of $2.85 and a 52-week high of $7.31.

Rush Street Interactive (NYSE:RSI - Get Free Report) last posted its earnings results on Wednesday, March 6th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.01. The firm had revenue of $193.85 million during the quarter, compared to analysts' expectations of $181.50 million. Rush Street Interactive had a negative return on equity of 28.95% and a negative net margin of 2.65%. On average, equities research analysts anticipate that Rush Street Interactive will post -0.22 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Richard Todd Schwartz sold 101,951 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer now owns 2,154,618 shares of the company's stock, valued at $14,608,310.04. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Richard Todd Schwartz sold 101,951 shares of the company's stock in a transaction on Monday, April 1st. The stock was sold at an average price of $6.78, for a total transaction of $691,227.78. Following the transaction, the chief executive officer now owns 2,154,618 shares of the company's stock, valued at $14,608,310.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul Wierbicki sold 22,743 shares of the company's stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $5.83, for a total value of $132,591.69. Following the transaction, the insider now directly owns 174,982 shares in the company, valued at approximately $1,020,145.06. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 331,552 shares of company stock valued at $2,094,498. Company insiders own 56.96% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of RSI. Vident Investment Advisory LLC acquired a new stake in shares of Rush Street Interactive during the fourth quarter valued at $39,000. Boothbay Fund Management LLC acquired a new stake in shares of Rush Street Interactive during the second quarter valued at $41,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Rush Street Interactive during the second quarter valued at $46,000. UBS Group AG boosted its stake in Rush Street Interactive by 357.1% in the 4th quarter. UBS Group AG now owns 13,943 shares of the company's stock worth $50,000 after buying an additional 10,893 shares during the last quarter. Finally, Verition Fund Management LLC acquired a new stake in Rush Street Interactive in the 2nd quarter worth about $51,000. Institutional investors and hedge funds own 24.78% of the company's stock.

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.