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

Key Points

• Rush Street Interactive, Inc. has received a consensus recommendation of "Moderate Buy" from analysts, with a target price averaging at $18.33.
• The company reported a 22.2% increase in revenue year-over-year during its last earnings call, with earnings per share exceeding expectations at $0.11.
• Insider trading activity includes the CEO selling over 57,000 shares at an average price of $20.87, reducing his ownership stake by 6.49%.

Rush Street Interactive, Inc. (NYSE:RSI - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the eleven analysts that are currently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $18.3333.

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. started coverage on shares of Rush Street Interactive in a research note on Monday, June 23rd. They set a "neutral" rating and a $14.00 target price on the stock. Jefferies Financial Group upped their price objective on Rush Street Interactive from $17.00 to $18.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. Susquehanna reiterated a "positive" rating and issued a $19.00 price objective (up from $15.00) on shares of Rush Street Interactive in a research note on Wednesday, July 30th. Benchmark boosted their target price on Rush Street Interactive from $20.00 to $24.00 and gave the stock a "buy" rating in a research note on Monday, September 8th. Finally, Zacks Research downgraded Rush Street Interactive from a "strong-buy" rating to a "hold" rating in a report on Monday.

Rush Street Interactive Trading Down 3.7%

RSI stock opened at $19.32 on Friday. The business's fifty day moving average price is $20.30 and its 200 day moving average price is $15.32. Rush Street Interactive has a 12-month low of $9.54 and a 12-month high of $22.65. The company has a market capitalization of $4.41 billion, a PE ratio of 96.59 and a beta of 1.87.

Rush Street Interactive (NYSE:RSI - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.03. The company had revenue of $269.22 million during the quarter, compared to the consensus estimate of $248.98 million. Rush Street Interactive had a return on equity of 16.53% and a net margin of 2.48%.Rush Street Interactive's revenue was up 22.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.04 EPS. Rush Street Interactive has set its FY 2025 guidance at EPS. Research analysts predict that Rush Street Interactive will post 0.04 EPS for the current fiscal year.

Insider Activity

In related news, CEO Richard Todd Schwartz sold 57,167 shares of the firm's stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $20.87, for a total value of $1,193,075.29. Following the sale, the chief executive officer owned 823,566 shares of the company's stock, valued at $17,187,822.42. This trade represents a 6.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kyle Sauers sold 15,038 shares of the business's stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $22.34, for a total transaction of $335,948.92. Following the transaction, the chief financial officer owned 418,651 shares of the company's stock, valued at $9,352,663.34. This trade represents a 3.47% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,812,463 shares of company stock valued at $32,940,224. 56.94% of the stock is owned by corporate insiders.

Institutional Trading of Rush Street Interactive

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Man Group plc increased its holdings in shares of Rush Street Interactive by 0.7% in the second quarter. Man Group plc now owns 89,535 shares of the company's stock valued at $1,334,000 after purchasing an additional 654 shares during the period. Cerity Partners LLC lifted its holdings in shares of Rush Street Interactive by 5.3% during the second quarter. Cerity Partners LLC now owns 23,067 shares of the company's stock worth $344,000 after purchasing an additional 1,167 shares during the period. Arizona State Retirement System grew its position in Rush Street Interactive by 5.4% in the 1st quarter. Arizona State Retirement System now owns 24,145 shares of the company's stock valued at $259,000 after buying an additional 1,232 shares during the last quarter. Pacer Advisors Inc. increased its stake in Rush Street Interactive by 94.7% in 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. Finally, Teacher Retirement System of Texas raised its position in Rush Street Interactive by 11.1% during the 2nd quarter. Teacher Retirement System of Texas now owns 13,615 shares of the company's stock worth $203,000 after buying an additional 1,358 shares during the last quarter. 24.78% of the stock is currently owned by institutional investors and hedge funds.

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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