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 sent to investors on Sunday morning.

A number of other research analysts also recently weighed in on the company. Benchmark raised their price target on Rush Street Interactive from $12.00 to $14.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Susquehanna lifted their price target on Rush Street Interactive from $14.00 to $15.00 and gave the stock a "positive" rating in a report on Thursday, May 1st. Needham & Company LLC reiterated a "buy" rating and set a $17.00 target price on shares of Rush Street Interactive in a research note on Thursday, May 1st. Wells Fargo & Company lifted their price objective on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock an "overweight" rating in a research report on Thursday, February 27th. Finally, Macquarie reiterated an "outperform" rating and issued a $16.00 price target on shares of Rush Street Interactive in a research note on Friday, May 2nd. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $15.63.

Rush Street Interactive Price Performance

Shares of RSI stock traded down $0.11 during trading hours on Friday, reaching $12.48. The company had a trading volume of 52,460 shares, compared to its average volume of 1,819,066. Rush Street Interactive has a 1-year low of $8.52 and a 1-year high of $16.78. The firm has a market cap of $2.86 billion, a price-to-earnings ratio of -623.50 and a beta of 1.88. The company has a 50 day moving average of $11.74 and a 200 day moving average of $12.84.

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 for the quarter, topping analysts' consensus estimates of $0.08 by $0.01. Rush Street Interactive had a negative net margin of 0.16% and a negative return on equity of 3.73%. The company had revenue of $262.41 million for the quarter, compared to analysts' expectations of $258.90 million. During the same period last year, the firm posted $0.03 earnings per share. The business's quarterly revenue was up 20.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Rush Street Interactive will post 0.04 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Einar Roosileht sold 60,000 shares of the firm's stock in a transaction 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 owns 956,150 shares of the company's stock, valued at $10,221,243.50. This trade represents a 5.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Richard Todd Schwartz sold 109,567 shares of the 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 completion of the sale, the chief executive officer now directly owns 2,082,376 shares of the company's stock, valued at approximately $20,511,403.60. The trade was a 5.00% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 628,805 shares of company stock worth $6,847,659. Corporate insiders own 56.94% of the company's stock.

Hedge Funds Weigh In On Rush Street Interactive

A number of large investors have recently modified their holdings of RSI. Vanguard Group Inc. grew its holdings in shares of 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 buying an additional 1,056,583 shares during the last quarter. Alliancebernstein L.P. raised 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 valued at $65,754,000 after buying an additional 5,776,660 shares during the last quarter. Nuveen LLC purchased a new position in Rush Street Interactive in the first quarter worth $29,005,000. Arrowstreet Capital Limited Partnership grew its holdings in Rush Street Interactive by 62.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,663,246 shares of the company's stock valued at $36,540,000 after purchasing an additional 1,018,889 shares during the period. Finally, Driehaus Capital Management LLC increased its position 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 currently owned by 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.