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

Key Points

• Rush Street Interactive, Inc. (NYSE:RSI) has received a consensus rating of “Moderate Buy” from eleven research firms, with a one-year price target averaging $17.89.
• The company reported $0.11 earnings per share for its latest quarter, surpassing expectations and showing a 22.2% increase in revenue year-over-year.
• Insiders have recently sold significant amounts of stock, with the CEO selling 193,905 shares, indicating a 16.01% decrease in ownership.

Rush Street Interactive, Inc. (NYSE:RSI - Get Free Report) has been given an average recommendation of "Moderate Buy" by the eleven research firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $17.8889.

Several equities research analysts recently weighed in on the stock. Susquehanna restated a "positive" rating and issued a $19.00 price target (up previously from $15.00) on shares of Rush Street Interactive in a research report on Wednesday, July 30th. Oppenheimer boosted their price target on shares of Rush Street Interactive from $16.00 to $21.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Needham & Company LLC boosted their price target on shares of Rush Street Interactive from $17.00 to $21.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. JPMorgan Chase & Co. initiated coverage on shares of Rush Street Interactive in a research report on Monday, June 23rd. They issued a "neutral" rating and a $14.00 price target on the stock. Finally, Benchmark lifted their price objective on shares of Rush Street Interactive from $17.00 to $20.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st.

Rush Street Interactive Stock Performance

Shares of RSI opened at $21.15 on Monday. The company's fifty day moving average is $17.85 and its 200 day moving average is $14.06. Rush Street Interactive has a fifty-two week low of $8.93 and a fifty-two week high of $22.55. The stock has a market capitalization of $4.83 billion, a PE ratio of 105.75 and a beta of 1.90.

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

Insiders Place Their Bets

In other Rush Street Interactive news, CEO Richard Todd Schwartz sold 193,905 shares of Rush Street Interactive stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $15.39, for a total transaction of $2,984,197.95. Following the completion of the transaction, the chief executive officer directly owned 1,017,471 shares of the company's stock, valued at $15,658,878.69. The trade was a 16.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Judith Gold sold 100,000 shares of Rush Street Interactive stock in a transaction on Monday, August 4th. The stock was sold at an average price of $19.61, for a total transaction of $1,961,000.00. Following the transaction, the director directly owned 111,629 shares of the company's stock, valued at $2,189,044.69. The trade was a 47.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,697,185 shares of company stock valued at $43,306,068 over the last three months. 56.89% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of RSI. Northern Trust Corp boosted its stake in shares of Rush Street Interactive by 8.2% during the fourth quarter. Northern Trust Corp now owns 706,386 shares of the company's stock valued at $9,692,000 after purchasing an additional 53,682 shares during the period. BNP Paribas Financial Markets bought a new stake in shares of Rush Street Interactive in the fourth quarter valued at about $6,965,000. Bank of America Corp DE raised its holdings in shares of Rush Street Interactive by 28.0% in the fourth quarter. Bank of America Corp DE now owns 563,769 shares of the company's stock valued at $7,735,000 after acquiring an additional 123,305 shares in the last quarter. Cubist Systematic Strategies LLC raised its holdings in shares of Rush Street Interactive by 450.5% in the fourth quarter. Cubist Systematic Strategies LLC now owns 231,084 shares of the company's stock valued at $3,170,000 after acquiring an additional 189,107 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. raised its holdings in shares of Rush Street Interactive by 60.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,015,756 shares of the company's stock valued at $13,936,000 after acquiring an additional 382,618 shares in the last quarter. 24.78% of the stock is owned by hedge funds and other institutional investors.

About Rush Street Interactive

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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