Rush Street Interactive (NYSE:RSI) Coverage Initiated at JPMorgan Chase & Co.

Equities researchers at JPMorgan Chase & Co. began coverage on shares of Rush Street Interactive (NYSE:RSI - Get Free Report) in a report released on Monday,Briefing.com Automated Import 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 upside of 0.84% from the company's previous close.

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

Rush Street Interactive Price Performance

NYSE:RSI opened at $13.88 on Monday. The firm has a market capitalization of $3.18 billion, a P/E ratio of 173.57 and a beta of 1.85. The business has a 50 day simple moving average of $12.42 and a 200 day simple moving average of $12.84. Rush Street Interactive has a 12-month low of $8.52 and a 12-month high of $16.78.

Rush Street Interactive (NYSE:RSI - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.01. The company had revenue of $262.41 million during the quarter, compared to the consensus estimate of $258.90 million. Rush Street Interactive had a net margin of 0.87% and a return on equity of 7.35%. The company's revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 earnings per share. Research analysts anticipate that Rush Street Interactive will post 0.04 EPS for the current fiscal year.

Insider Activity

In other Rush Street Interactive news, COO Mattias Stetz sold 3,777 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $12.08, for a total value of $45,626.16. Following the completion of the transaction, the chief operating officer now directly owns 421,051 shares in the company, valued at $5,086,296.08. This trade represents a 0.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Masi Niccolo De sold 29,696 shares of the business's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $13.90, for a total transaction of $412,774.40. Following the sale, the director now owns 892,188 shares in the company, valued at $12,401,413.20. This represents a 3.22% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,671,949 shares of company stock worth $21,619,717. Insiders own 56.89% of the company's stock.

Institutional Investors Weigh In On Rush Street Interactive

Several hedge funds have recently bought and sold shares of RSI. Vanguard Group Inc. grew its position in Rush Street Interactive by 14.0% during the fourth quarter. Vanguard Group Inc. now owns 8,596,434 shares of the company's stock valued at $117,943,000 after purchasing an additional 1,056,583 shares in the last quarter. Alliancebernstein L.P. increased its position in Rush Street Interactive by 1,617.7% in the 1st quarter. Alliancebernstein L.P. now owns 6,133,759 shares of the company's stock worth $65,754,000 after purchasing an additional 5,776,660 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Rush Street Interactive during the 1st quarter valued at about $29,005,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Rush Street Interactive by 62.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,663,246 shares of the company's stock valued at $36,540,000 after buying an additional 1,018,889 shares in the last quarter. Finally, Driehaus Capital Management LLC increased its holdings in Rush Street Interactive by 12.7% in the first quarter. Driehaus Capital Management LLC now owns 2,480,268 shares of the company's stock worth $26,588,000 after buying an additional 279,751 shares during the last quarter. 24.78% of the stock is owned by hedge funds and other institutional investors.

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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