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Rush Street Interactive (NYSE:RSI) Now Covered by Analysts at JPMorgan Chase & Co.

Rush Street Interactive logo with Consumer Discretionary background

Equities research analysts at JPMorgan Chase & Co. initiated coverage on shares of Rush Street Interactive (NYSE:RSI - Get Free Report) in a research note issued to investors on Monday, MarketBeat reports. The firm set a "neutral" rating and a $14.00 price target on the stock. JPMorgan Chase & Co.'s price objective points to a potential downside of 3.54% from the stock's current price.

Several other equities research analysts have also weighed in on RSI. Benchmark raised their target price on Rush Street Interactive from $12.00 to $14.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Wall Street Zen upgraded Rush Street Interactive from a "buy" rating to a "strong-buy" rating in a research report on Monday, June 9th. Macquarie reiterated an "outperform" rating and issued a $16.00 price objective on shares of Rush Street Interactive in a research report on Friday, May 2nd. Needham & Company LLC reissued a "buy" rating and issued a $17.00 price target on shares of Rush Street Interactive in a research note on Thursday, May 1st. Finally, Wells Fargo & Company lifted their price target on Rush Street Interactive from $14.00 to $15.00 and gave the stock an "overweight" rating in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Rush Street Interactive currently has a consensus rating of "Moderate Buy" and an average target price of $15.44.

Check Out Our Latest Stock Analysis on RSI

Rush Street Interactive Stock Up 0.8%

NYSE RSI traded up $0.11 during trading hours on Monday, hitting $14.51. 987,704 shares of the company were exchanged, compared to its average volume of 1,770,230. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of 181.45 and a beta of 1.85. The company has a 50 day moving average of $12.57 and a two-hundred day moving average of $12.86. Rush Street Interactive has a 52-week low of $8.52 and a 52-week high of $16.78.

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

Insider Buying and Selling

In other news, COO Mattias Stetz sold 3,777 shares of Rush Street Interactive stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $12.08, for a total transaction of $45,626.16. Following the sale, the chief operating officer now directly owns 421,051 shares in the company, valued at approximately $5,086,296.08. The trade was a 0.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Einar Roosileht sold 60,000 shares of the firm's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $10.69, for a total transaction of $641,400.00. Following the transaction, the insider now owns 956,150 shares of the company's stock, valued at approximately $10,221,243.50. This represents a 5.90% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,671,949 shares of company stock worth $21,619,717. Corporate insiders own 56.94% of the company's stock.

Hedge Funds Weigh In On Rush Street Interactive

A number of hedge funds and other institutional investors have recently bought and sold shares of RSI. Bank of America Corp DE grew its holdings in shares of Rush Street Interactive by 28.0% in the 4th quarter. Bank of America Corp DE now owns 563,769 shares of the company's stock valued at $7,735,000 after buying an additional 123,305 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Rush Street Interactive by 72.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 542,376 shares of the company's stock worth $5,814,000 after buying an additional 228,187 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Rush Street Interactive in the 4th quarter valued at about $337,000. Two Sigma Investments LP acquired a new stake in shares of Rush Street Interactive in the fourth quarter valued at about $783,000. Finally, Deutsche Bank AG raised its stake in shares of Rush Street Interactive by 233.6% during the 4th quarter. Deutsche Bank AG now owns 125,699 shares of the company's stock worth $1,725,000 after purchasing an additional 88,017 shares in the last quarter. 24.78% of the stock is owned by institutional investors.

About Rush Street Interactive

(Get Free Report)

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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