Rush Street Interactive, Inc. (NYSE:RSI) Receives Consensus Rating of "Moderate Buy" from Analysts

Shares of Rush Street Interactive, Inc. (NYSE:RSI - Get Free Report) have received an average rating of "Moderate Buy" from the ten research firms that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $15.89.

Several analysts have issued reports on RSI shares. Susquehanna upped their price target on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company a "positive" rating in a report on Thursday, May 1st. Needham & Company LLC reaffirmed a "buy" rating and issued a $17.00 price target on shares of Rush Street Interactive in a report on Thursday, May 1st. JPMorgan Chase & Co. started coverage on shares of Rush Street Interactive in a report on Monday, June 23rd. They issued a "neutral" rating and a $14.00 price target on the stock. Benchmark upped their price target on shares of Rush Street Interactive from $14.00 to $17.00 and gave the company a "buy" rating in a report on Tuesday, July 1st. Finally, Jefferies Financial Group upped their price target on shares of Rush Street Interactive from $17.00 to $18.00 and gave the company a "buy" rating in a report on Thursday, July 3rd.

Rush Street Interactive Price Performance

Rush Street Interactive stock traded up $0.13 during mid-day trading on Friday, reaching $14.77. The company had a trading volume of 712,496 shares, compared to its average volume of 1,737,181. Rush Street Interactive has a 1 year low of $8.52 and a 1 year high of $16.78. The company has a market capitalization of $3.38 billion, a P/E ratio of 184.70 and a beta of 1.87. The stock's 50-day simple moving average is $13.76 and its 200-day simple moving average is $13.03.

Rush Street Interactive (NYSE:RSI - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.09 earnings per share (EPS) 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 company had revenue of $262.41 million during the quarter, compared to analysts' expectations of $258.90 million. During the same period last year, the company posted $0.03 earnings per share. The firm's quarterly revenue was up 20.7% compared to the same quarter last year. On average, equities analysts forecast that Rush Street Interactive will post 0.04 EPS for the current fiscal year.

Insider Activity

In other news, insider Einar Roosileht sold 70,000 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $14.77, for a total transaction of $1,033,900.00. Following the transaction, the insider directly owned 876,150 shares in the company, valued at $12,940,735.50. This represents a 7.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Richard Todd Schwartz sold 193,905 shares of the stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $15.39, for a total transaction of $2,984,197.95. Following the transaction, the chief executive officer owned 1,017,471 shares in the company, valued at approximately $15,658,878.69. The trade was a 16.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,143,043 shares of company stock valued at $30,043,702. 56.94% of the stock is owned by corporate insiders.

Institutional Trading of Rush Street Interactive

A number of institutional investors have recently modified their holdings of the company. Pacer Advisors Inc. raised its holdings in shares of Rush Street Interactive by 94.7% during the 1st quarter. Pacer Advisors Inc. now owns 2,533 shares of the company's stock valued at $27,000 after buying an additional 1,232 shares during the period. Summit Securities Group LLC purchased a new position in Rush Street Interactive in the first quarter valued at about $33,000. Heck Capital Advisors LLC purchased a new position in Rush Street Interactive in the fourth quarter valued at about $34,000. Farther Finance Advisors LLC purchased a new position in Rush Street Interactive in the second quarter valued at about $42,000. Finally, GAMMA Investing LLC boosted its holdings in Rush Street Interactive by 1,687.6% in the first quarter. GAMMA Investing LLC now owns 6,507 shares of the company's stock valued at $70,000 after purchasing an additional 6,143 shares during the last quarter. 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.