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

Key Points

• Rush Street Interactive, Inc. (NYSE:RSI) has received a consensus rating of "Moderate Buy" from ten analysts, with eight issuing buy recommendations and a 1-year price target averaging $17.89.
• Insider trading activity includes notable sales, with one insider selling 70,000 shares for approximately $1.33 million, resulting in a 7.4% decrease in their ownership.
• In the last quarter, Rush Street Interactive reported a revenue of $269.22 million, a 22.2% increase from the previous year, and earning per share of $0.11, exceeding analysts' expectations.

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

Several analysts have issued reports on the company. Susquehanna reaffirmed a "positive" rating and issued a $19.00 target price (up previously from $15.00) on shares of Rush Street Interactive in a research note on Wednesday, July 30th. Wall Street Zen upgraded Rush Street Interactive from a "buy" rating to a "strong-buy" rating in a report on Friday, July 18th. Benchmark increased their price objective on Rush Street Interactive from $17.00 to $20.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. JPMorgan Chase & Co. began coverage on Rush Street Interactive in a report on Monday, June 23rd. They issued a "neutral" rating and a $14.00 price objective for the company. Finally, Oppenheimer increased their target price on Rush Street Interactive from $16.00 to $21.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st.

Insider Activity at Rush Street Interactive

In related news, insider Einar Roosileht sold 70,000 shares of the business's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $18.95, for a total value of $1,326,500.00. Following the completion of the sale, the insider owned 876,150 shares in the company, valued at approximately $16,603,042.50. The trade was a 7.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Judith Gold sold 100,000 shares of the company's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $19.61, for a total value of $1,961,000.00. Following the sale, the director owned 111,629 shares of the company's stock, valued at approximately $2,189,044.69. This represents a 47.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,816,090 shares of company stock valued at $44,026,948 over the last ninety days. 56.94% of the stock is currently owned by company insiders.

Institutional Trading of Rush Street Interactive

Hedge funds and other institutional investors have recently made changes to their positions in the business. Arizona State Retirement System increased its position in shares of 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 acquiring an additional 1,232 shares during the period. Pacer Advisors Inc. grew its position 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 acquiring an additional 1,232 shares during the period. Teacher Retirement System of Texas grew its position in shares of 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 valued at $203,000 after acquiring an additional 1,358 shares during the period. Main Management ETF Advisors LLC boosted its holdings in Rush Street Interactive by 1.7% in the 2nd quarter. Main Management ETF Advisors LLC now owns 86,473 shares of the company's stock worth $1,288,000 after buying an additional 1,404 shares during the last quarter. Finally, Ameritas Investment Partners Inc. boosted its holdings in Rush Street Interactive by 21.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,063 shares of the company's stock worth $135,000 after buying an additional 1,615 shares during the last quarter. Hedge funds and other institutional investors own 24.78% of the company's stock.

Rush Street Interactive Trading Down 0.7%

RSI stock opened at $19.19 on Thursday. The stock's fifty day simple moving average is $15.47 and its two-hundred day simple moving average is $13.38. Rush Street Interactive has a 1-year low of $8.76 and a 1-year high of $20.32. The stock has a market cap of $4.38 billion, a P/E ratio of 95.95 and a beta of 1.90.

Rush Street Interactive (NYSE:RSI - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.08 by $0.03. Rush Street Interactive had a return on equity of 16.53% and a net margin of 2.48%. The company had revenue of $269.22 million for the quarter, compared to analyst estimates of $248.98 million. During the same period in the previous year, the company posted $0.04 EPS. The firm's revenue for the quarter was up 22.2% compared to the same quarter last year. As a group, analysts forecast that Rush Street Interactive will post 0.04 earnings per share for the current fiscal year.

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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