Rush Street Interactive (NYSE:RSI) Shares Climb 4.4% - Time to Buy?

Key Points

• Rush Street Interactive shares rose 4.4% to about $19.54, although trading volume was 56% below the average session level.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and a $34.20 price target; recent targets range from $27 to $34.
• The company reported quarterly revenue of $393.78 million, up 46.3% year over year, while insider activity was mixed: a director bought shares, but insiders collectively sold nearly 604,000 shares over the past quarter.

Rush Street Interactive, Inc. (NYSE:RSI - Get Free Report)'s share price shot up 4.4% during trading on Tuesday. The company traded as high as $19.44 and last traded at $19.5380. 1,099,062 shares changed hands during mid-day trading, a decline of 56% from the average session volume of 2,471,495 shares. The stock had previously closed at $18.71.

Analysts Set New Price Targets

A number of analysts recently weighed in on RSI shares. Susquehanna lowered their price target on shares of Rush Street Interactive from $37.00 to $27.00 and set a "positive" rating for the company in a report on Friday. Citigroup reissued a "market outperform" rating on shares of Rush Street Interactive in a report on Tuesday, September 22nd. Citizens Jmp reaffirmed a "market outperform" rating and issued a $34.00 price objective on shares of Rush Street Interactive in a research note on Tuesday, September 22nd. Stifel Nicolaus assumed coverage on Rush Street Interactive in a report on Monday, September 21st. They issued a "buy" rating and a $34.00 price objective for the company. Finally, Wall Street Zen upgraded Rush Street Interactive from a "hold" rating to a "buy" rating in a report on Sunday, September 13th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $34.20.

Rush Street Interactive Stock Up 2.7%

The business's fifty day moving average is $24.00 and its 200 day moving average is $26.23. The firm has a market capitalization of $4.46 billion, a price-to-earnings ratio of 66.35 and a beta of 1.71.

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

Insider Buying and Selling at Rush Street Interactive

In other news, CFO Kyle Sauers sold 23,000 shares of the stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $20.31, for a total value of $467,130.00. Following the completion of the transaction, the chief financial officer owned 583,526 shares of the company's stock, valued at approximately $11,851,413.06. This represents a 3.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jack A. Markell bought 1,500 shares of Rush Street Interactive stock in a transaction on Friday, September 25th. The shares were acquired at an average cost of $19.35 per share, for a total transaction of $29,025.00. Following the completion of the acquisition, the director directly owned 18,883 shares in the company, valued at approximately $365,386.05. The trade was a 8.63% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold 603,998 shares of company stock worth $14,814,268 over the last quarter. Company insiders own 52.89% of the company's stock.

Hedge Funds Weigh In On Rush Street Interactive

Several institutional investors have recently added to or reduced their stakes in the business. GSA Capital Partners LLP bought a new stake in shares of Rush Street Interactive during the 2nd quarter valued at $1,996,000. Quantinno Capital Management LP bought a new position in Rush Street Interactive during the first quarter valued at approximately $1,769,000. BlackRock Inc. bought a new position in shares of Rush Street Interactive during the second quarter valued at about $448,435,000. Tidal Investments LLC purchased a new position in Rush Street Interactive in the 2nd quarter worth approximately $1,323,000. Finally, OP Asset Management Ltd bought a new stake in Rush Street Interactive during the 1st quarter valued at $5,262,000. 24.78% of the stock is owned by institutional investors and hedge funds.

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 consumer-facing brands include BetRivers and PlaySugarHouse, which offer online casino games, sports wagering, and related digital gaming services where permitted by local regulations.

The company serves customers in multiple regulated markets across the United States and Latin America. Its operations have included online sports betting and casino gaming in U.S.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.