Rush Street Interactive's (RSI) "Buy" Rating Reiterated at Needham & Company LLC

Rush Street Interactive (NYSE:RSI - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at Needham & Company LLC in a research note issued on Thursday,Benzinga reports. They currently have a $17.00 price objective on the stock. Needham & Company LLC's price target would suggest a potential upside of 43.34% from the stock's previous close.

RSI has been the topic of a number of other reports. JMP Securities restated a "market perform" rating on shares of Rush Street Interactive in a research report on Monday, January 6th. Jefferies Financial Group increased their price objective on Rush Street Interactive from $16.00 to $17.00 and gave the company a "buy" rating in a report on Wednesday, January 15th. Susquehanna raised shares of Rush Street Interactive from a "hold" rating to a "strong-buy" rating in a report on Friday, February 28th. Macquarie reiterated an "outperform" rating and issued a $16.00 price objective on shares of Rush Street Interactive in a research report on Thursday, February 27th. Finally, Benchmark boosted their price objective on Rush Street Interactive from $12.00 to $14.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $15.63.

Rush Street Interactive Stock Up 1.8 %

Shares of RSI traded up $0.21 during trading hours on Thursday, reaching $11.86. 1,674,316 shares of the company traded hands, compared to its average volume of 1,886,844. The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of -593.00 and a beta of 1.88. The company's fifty day moving average price is $11.24 and its two-hundred day moving average price is $12.67. Rush Street Interactive has a 12 month low of $7.91 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 analysts' consensus estimates of $0.08 by $0.01. The firm had revenue of $262.41 million for the quarter, compared to the consensus estimate of $258.90 million. Rush Street Interactive had a negative net margin of 0.16% and a negative return on equity of 3.73%. The business's quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.03 EPS. On average, analysts expect that Rush Street Interactive will post 0.04 EPS for the current year.

Insider Buying and Selling

In other news, CEO Richard Todd Schwartz sold 133,905 shares of the business's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $14.22, for a total transaction of $1,904,129.10. Following the sale, the chief executive officer now owns 2,251,943 shares in the company, valued at $32,022,629.46. The trade was a 5.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Einar Roosileht sold 70,000 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $11.67, for a total transaction of $816,900.00. Following the completion of the transaction, the insider now owns 946,150 shares in the company, valued at approximately $11,041,570.50. This represents a 6.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 655,758 shares of company stock worth $7,496,903 over the last ninety days. 56.89% of the stock is owned by insiders.

Institutional Investors Weigh In On Rush Street Interactive

Several institutional investors have recently modified their holdings of RSI. Price T Rowe Associates Inc. MD lifted its stake in Rush Street Interactive by 7,958.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,029,239 shares of the company's stock valued at $27,843,000 after acquiring an additional 2,004,059 shares in the last quarter. Topline Capital Management LLC bought a new stake in Rush Street Interactive during the fourth quarter worth about $24,851,000. William Blair Investment Management LLC bought a new position in Rush Street Interactive in the fourth quarter valued at approximately $21,635,000. Nicholas Investment Partners LP acquired a new stake in Rush Street Interactive in the fourth quarter valued at approximately $14,970,000. Finally, Vanguard Group Inc. raised its position in Rush Street Interactive by 14.0% in 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 during the last quarter. Institutional investors and hedge funds own 24.78% of the company's stock.

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.