Wall Street Zen Downgrades Rush Street Interactive (NYSE:RSI) to Buy

Wall Street Zen downgraded shares of Rush Street Interactive (NYSE:RSI - Free Report) from a strong-buy rating to a buy rating in a research report released on Sunday morning.

A number of other research firms have also commented on RSI. Susquehanna raised their price objective on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company a "positive" rating in a research report on Thursday, May 1st. Needham & Company LLC reissued a "buy" rating and set a $17.00 price target on shares of Rush Street Interactive in a research report on Thursday, May 1st. Wells Fargo & Company upped their price target on Rush Street Interactive from $14.00 to $15.00 and gave the company an "overweight" rating in a report on Thursday, February 27th. Benchmark upped 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. Finally, Macquarie reiterated an "outperform" rating and set a $16.00 price objective on shares of Rush Street Interactive in a research report on Friday, May 2nd. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Rush Street Interactive currently has a consensus rating of "Moderate Buy" and an average target price of $15.63.

Rush Street Interactive Trading Up 0.1%

RSI traded up $0.01 on Friday, reaching $12.60. The stock had a trading volume of 1,026,916 shares, compared to its average volume of 1,823,454. The firm has a 50-day moving average of $11.78 and a 200-day moving average of $12.84. The company has a market capitalization of $2.89 billion, a price-to-earnings ratio of -630.00 and a beta of 1.85. Rush Street Interactive has a fifty-two week low of $8.52 and a fifty-two week high of $16.78.

Rush Street Interactive (NYSE:RSI - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.08 by $0.01. Rush Street Interactive had a negative return on equity of 3.73% and a negative net margin of 0.16%. The business had revenue of $262.41 million for the quarter, compared to analysts' expectations of $258.90 million. During the same period in the prior year, the business posted $0.03 earnings per share. The firm's revenue was up 20.7% on a year-over-year basis. Sell-side analysts anticipate that Rush Street Interactive will post 0.04 EPS for the current fiscal year.

Insider Activity at Rush Street Interactive

In related news, CEO Richard Todd Schwartz sold 109,567 shares of the business's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $9.85, for a total value of $1,079,234.95. Following the sale, the chief executive officer now directly owns 2,082,376 shares in the company, valued at approximately $20,511,403.60. The trade was a 5.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Einar Roosileht sold 60,000 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $10.69, for a total transaction of $641,400.00. Following the sale, the insider now directly owns 956,150 shares in the company, valued at approximately $10,221,243.50. The trade was a 5.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 723,805 shares of company stock valued at $8,032,309. 56.94% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of RSI. R Squared Ltd purchased a new position in Rush Street Interactive in the 4th quarter valued at approximately $28,000. Heck Capital Advisors LLC bought a new position in shares of Rush Street Interactive in the 4th quarter worth about $34,000. Pacer Advisors Inc. grew its position in shares of Rush Street Interactive by 94.7% during the first 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 bought a new position in Rush Street Interactive in the 1st quarter valued at about $33,000. Finally, WealthTrak Capital Management LLC acquired a new position in Rush Street Interactive during the fourth quarter worth about $71,000. 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.