Rush Street Interactive (NYSE:RSI) Stock Jumps 7.4% - What's Next?

Key Points

• Rush Street Interactive shares jumped 7.4% to approximately $21.49, although trading volume was 82% below the average session volume.
• Analysts remain broadly positive, with a “Moderate Buy” consensus rating and an average price target of $35.10, well above the recent share price.
• The company’s latest quarterly revenue rose 46.3% year over year to $393.78 million, exceeding expectations, while EPS matched the $0.15 consensus estimate.

Rush Street Interactive, Inc. (NYSE:RSI - Get Free Report)'s stock price was up 7.4% on Monday. The stock traded as high as $21.35 and last traded at $21.4940. Approximately 436,593 shares were traded during trading, a decline of 82% from the average session volume of 2,456,746 shares. The stock had previously closed at $20.01.

Analysts Set New Price Targets

RSI has been the subject of several recent research reports. Stifel Nicolaus began coverage on Rush Street Interactive in a report on Monday, September 21st. They set a "buy" rating and a $34.00 price target for the company. Jefferies Financial Group reiterated a "buy" rating and set a $39.00 price objective on shares of Rush Street Interactive in a research report on Thursday, July 30th. New Street Research set a $35.00 price objective on Rush Street Interactive in a research report on Thursday, July 23rd. Citizens Jmp reissued a "market outperform" rating and set a $34.00 price target on shares of Rush Street Interactive in a research report on Tuesday, September 22nd. Finally, Citigroup reiterated a "market outperform" rating on shares of Rush Street Interactive in a report on Tuesday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Rush Street Interactive presently has an average rating of "Moderate Buy" and an average price target of $35.10.

Rush Street Interactive Stock Performance

The firm has a market capitalization of $5.01 billion, a P/E ratio of 74.33 and a beta of 1.71. The firm has a 50-day moving average of $25.11 and a 200-day moving average of $26.28.

Rush Street Interactive (NYSE:RSI - Get Free Report) last posted its earnings results on Wednesday, July 29th. The company reported $0.15 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.15. The business had revenue of $393.78 million for 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 revenue for the quarter was up 46.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.11 EPS. On average, research analysts forecast that Rush Street Interactive, Inc. will post 0.49 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Jack Markell bought 1,500 shares of Rush Street Interactive stock in a transaction that occurred on Friday, September 25th. The stock was bought at an average cost of $19.35 per share, with a total value of $29,025.00. Following the acquisition, the director owned 18,883 shares of the company's stock, valued at $365,386.05. The trade was a 8.63% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard Schwartz sold 111,112 shares of the firm's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $28.02, for a total transaction of $3,113,358.24. Following the sale, the chief executive officer owned 421,258 shares in the company, valued at $11,803,649.16. The trade was a 20.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 402,666 shares of company stock valued at $10,802,098 in the last 90 days. 52.89% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RSI. Tidal Investments LLC purchased a new position in Rush Street Interactive during the second quarter valued at $1,323,000. Integrated Wealth Concepts LLC bought a new stake in shares of Rush Street Interactive in the second quarter worth about $70,000. Allworth Financial LP lifted its position in shares of Rush Street Interactive by 38.1% in the second quarter. Allworth Financial LP now owns 1,917 shares of the company's stock worth $57,000 after buying an additional 529 shares in the last quarter. Arizona State Retirement System boosted its stake in Rush Street Interactive by 11.4% during the second quarter. Arizona State Retirement System now owns 30,002 shares of the company's stock valued at $892,000 after buying an additional 3,081 shares during the last quarter. Finally, Corient Private Wealth LP grew its holdings in Rush Street Interactive by 14.7% during the 2nd quarter. Corient Private Wealth LP now owns 75,364 shares of the company's stock valued at $2,241,000 after buying an additional 9,687 shares in the last quarter. 24.78% of the stock is currently owned by institutional investors.

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.

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