Rush Street Interactive (NYSE:RSI) Hits New 52-Week High - What's Next?

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.

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

Analyst Ratings Changes

Several research firms recently commented on RSI. Benchmark increased their target price on shares of Rush Street Interactive from $17.00 to $20.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Wall Street Zen lowered shares of Rush Street Interactive from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 16th. Susquehanna reaffirmed a "positive" rating and set a $19.00 price objective (up from $15.00) on shares of Rush Street Interactive in a research note on Wednesday, July 30th. Zacks Research raised Rush Street Interactive from a "hold" rating to a "strong-buy" rating in a research note on Monday. Finally, Jefferies Financial Group increased their target price on Rush Street Interactive from $17.00 to $18.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $17.89.

Rush Street Interactive Stock Up 0.8%

The firm's fifty day moving average is $16.81 and its two-hundred day moving average is $13.78. The firm has a market cap of $4.99 billion, a P/E ratio of 109.13 and a beta of 1.90.

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

Insider Transactions at Rush Street Interactive

In other news, Director Masi Niccolo De sold 446,094 shares of Rush Street Interactive stock in a transaction dated Thursday, July 31st. The stock was 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 of the company's stock, valued at $278,975.05. The trade was a 96.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Judith Gold sold 100,000 shares of Rush Street Interactive stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $19.61, for a total transaction of $1,961,000.00. Following the transaction, the director directly owned 111,629 shares in the company, valued at $2,189,044.69. This represents a 47.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,816,090 shares of company stock worth $44,026,948 in the last quarter. Company insiders own 56.94% of the company's stock.

Institutional Investors Weigh In On Rush Street Interactive

Institutional investors have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. increased its stake in Rush Street Interactive by 94.7% in the 1st quarter. Pacer Advisors Inc. now owns 2,533 shares of the company's stock worth $27,000 after acquiring an additional 1,232 shares during the last quarter. Summit Securities Group LLC purchased a new position in shares of Rush Street Interactive in the first quarter valued at $33,000. Heck Capital Advisors LLC bought a new stake in Rush Street Interactive in the fourth quarter worth $34,000. Farther Finance Advisors LLC purchased a new stake in Rush Street Interactive during the second quarter valued at $42,000. Finally, GAMMA Investing LLC lifted its position in Rush Street Interactive by 1,687.6% during the first quarter. GAMMA Investing LLC now owns 6,507 shares of the company's stock valued at $70,000 after purchasing an additional 6,143 shares during the last quarter. 24.78% of the stock is owned by hedge funds and other institutional investors.

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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