Rush Street Interactive (NYSE:RSI) Sets New 12-Month High - Here's Why

Key Points

• Rush Street Interactive's stock reached a new 52-week high of $22.12, closing at $21.83 with significant trading volume of 1,349,809 shares.
• Analyst ratings have varied, with Benchmark increasing its target price to $20.00, while Wall Street Zen downgraded its rating from "strong-buy" to "buy"; the consensus rating is now "Moderate Buy" with an average target price of $17.89.
• The company reported a quarterly earnings per share of $0.11, surpassing the consensus estimate, and experienced a revenue increase of 22.2% compared to the previous year.

Rush Street Interactive, Inc. (NYSE:RSI - Get Free Report) shares hit a new 52-week high on Thursday . The company traded as high as $22.12 and last traded at $21.83, with a volume of 1349809 shares changing hands. The stock had previously closed at $21.65.

Wall Street Analyst Weigh In

RSI has been the topic of a number of research reports. Wall Street Zen lowered shares of Rush Street Interactive from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 16th. JPMorgan Chase & Co. initiated coverage on shares of Rush Street Interactive in a research note on Monday, June 23rd. They issued a "neutral" rating and a $14.00 price target on the stock. Susquehanna reaffirmed a "positive" rating and issued a $19.00 price target (up previously from $15.00) on shares of Rush Street Interactive in a research note on Wednesday, July 30th. Zacks Research upgraded shares of Rush Street Interactive from a "hold" rating to a "strong-buy" rating in a report on Monday, August 25th. Finally, Jefferies Financial Group lifted their price objective on shares of Rush Street Interactive from $17.00 to $18.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $17.89.

Rush Street Interactive Stock Down 4.0%

The company has a market capitalization of $4.89 billion, a price-to-earnings ratio of 107.33 and a beta of 1.90. The stock's fifty day moving average price is $17.31 and its 200-day moving average price is $13.90.

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

Insider Buying and Selling

In related news, Director Masi Niccolo De sold 446,094 shares of the business's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $18.35, for a total transaction of $8,185,824.90. Following the transaction, the director directly owned 15,203 shares in the company, valued at approximately $278,975.05. The trade was a 96.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Judith Gold sold 100,000 shares of the business's 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 owned 111,629 shares in the company, valued at approximately $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. Over the last three months, insiders have sold 2,721,090 shares of company stock worth $42,842,298. Insiders own 56.89% of the company's stock.

Hedge Funds Weigh In On Rush Street Interactive

Several institutional investors and hedge funds have recently modified their holdings of the stock. Man Group plc increased its holdings in shares of Rush Street Interactive by 0.7% in the second quarter. Man Group plc now owns 89,535 shares of the company's stock valued at $1,334,000 after purchasing an additional 654 shares during the last quarter. Cerity Partners LLC boosted its position in shares of Rush Street Interactive by 5.3% in the second quarter. Cerity Partners LLC now owns 23,067 shares of the company's stock valued at $344,000 after acquiring an additional 1,167 shares during the period. Arizona State Retirement System boosted its position in shares of Rush Street Interactive by 5.4% in the first 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. boosted its position in shares of Rush Street Interactive by 94.7% in the first 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. Finally, Teacher Retirement System of Texas boosted its position in shares of Rush Street Interactive by 11.1% in the second 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. 24.78% of the stock is currently owned by institutional investors and hedge funds.

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.