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

Shares of Rush Street Interactive, Inc. (NYSE:RSI - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the ten ratings firms that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $15.44.

A number of equities analysts have weighed in on RSI shares. Susquehanna raised their target price on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company a "positive" rating in a research note on Thursday, May 1st. Benchmark raised their target price on shares of Rush Street Interactive from $12.00 to $14.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Wells Fargo & Company raised their target price on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company an "overweight" rating in a research note on Thursday, February 27th. Needham & Company LLC reiterated a "buy" rating and set a $17.00 price target on shares of Rush Street Interactive in a report on Thursday, May 1st. Finally, Wall Street Zen upgraded shares of Rush Street Interactive from a "buy" rating to a "strong-buy" rating in a report on Monday, June 9th.

Rush Street Interactive Price Performance

RSI stock opened at $14.46 on Wednesday. Rush Street Interactive has a 1 year low of $8.52 and a 1 year high of $16.78. The company has a market cap of $3.31 billion, a P/E ratio of 180.81 and a beta of 1.85. The firm has a 50-day moving average of $12.52 and a 200 day moving average of $12.85.

Rush Street Interactive (NYSE:RSI - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.09 earnings per share for the quarter, beating analysts' consensus estimates of $0.08 by $0.01. Rush Street Interactive had a net margin of 0.87% and a return on equity of 7.35%. The business had revenue of $262.41 million during the quarter, compared to the consensus estimate of $258.90 million. During the same quarter last year, the firm earned $0.03 earnings per share. The business's revenue for the quarter was up 20.7% on a year-over-year basis. On average, equities research analysts expect that Rush Street Interactive will post 0.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Einar Roosileht sold 60,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $10.69, for a total value of $641,400.00. Following the sale, the insider now owns 956,150 shares in the company, valued at approximately $10,221,243.50. This trade represents a 5.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Mattias Stetz sold 20,000 shares of Rush Street Interactive stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $10.84, for a total transaction of $216,800.00. Following the transaction, the chief operating officer now owns 426,051 shares in the company, valued at $4,618,392.84. This represents a 4.48% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,671,949 shares of company stock worth $21,619,717. 56.89% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of RSI. Rhumbline Advisers boosted its stake in shares of Rush Street Interactive by 2.4% during the 4th quarter. Rhumbline Advisers now owns 103,426 shares of the company's stock worth $1,419,000 after acquiring an additional 2,457 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Rush Street Interactive by 10.8% during the 4th quarter. Principal Financial Group Inc. now owns 86,051 shares of the company's stock worth $1,181,000 after acquiring an additional 8,393 shares during the last quarter. New York State Common Retirement Fund boosted its stake in shares of Rush Street Interactive by 732.2% during the 4th quarter. New York State Common Retirement Fund now owns 177,627 shares of the company's stock worth $2,437,000 after acquiring an additional 156,282 shares during the last quarter. Ieq Capital LLC purchased a new position in shares of Rush Street Interactive during the 4th quarter worth $616,000. Finally, Wealthspire Advisors LLC purchased a new position in shares of Rush Street Interactive during the 4th quarter worth $206,000. Hedge funds and other institutional investors own 24.78% of the company's stock.

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.

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