Rush Street Interactive (NYSE:RSI) Lowered to Buy Rating by Wall Street Zen

Rush Street Interactive (NYSE:RSI - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a note issued to investors on Saturday.

Several other research firms have also commented on RSI. Jefferies Financial Group upped their price target on shares of Rush Street Interactive from $17.00 to $18.00 and gave the company a "buy" rating in a report on Thursday. Benchmark upped their price target on shares of Rush Street Interactive from $14.00 to $17.00 and gave the company a "buy" rating in a report on Tuesday. Susquehanna upped their price target on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company a "positive" rating in a report on Thursday, May 1st. Needham & Company LLC reaffirmed a "buy" rating and issued a $17.00 price target on shares of Rush Street Interactive in a report on Thursday, May 1st. Finally, Macquarie reaffirmed an "outperform" rating and issued a $16.00 price target on shares of Rush Street Interactive in a report on Friday, May 2nd. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $15.89.

Rush Street Interactive Price Performance

Shares of RSI opened at $14.45 on Friday. The firm has a market capitalization of $3.31 billion, a PE ratio of 180.65 and a beta of 1.87. Rush Street Interactive has a 1-year low of $8.52 and a 1-year high of $16.78. The company's fifty day moving average price is $12.98 and its 200-day moving average price is $12.91.

Rush Street Interactive (NYSE:RSI - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.09 earnings per share 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 analyst estimates of $258.90 million. Rush Street Interactive had a net margin of 0.87% and a return on equity of 7.35%. The business's quarterly revenue was up 20.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.03 earnings per share. As a group, research analysts anticipate that Rush Street Interactive will post 0.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other Rush Street Interactive news, insider Einar Roosileht sold 70,000 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $12.47, for a total value of $872,900.00. Following the completion of the transaction, the insider owned 876,150 shares in the company, valued at approximately $10,925,590.50. This represents a 7.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Masi Niccolo De sold 286,769 shares of the company's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $14.08, for a total transaction of $4,037,707.52. Following the completion of the transaction, the director owned 921,884 shares of the company's stock, valued at approximately $12,980,126.72. This trade represents a 23.73% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,711,949 shares of company stock worth $22,540,667. Company insiders own 56.94% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Rush Street Interactive by 14.0% during the 4th quarter. Vanguard Group Inc. now owns 8,596,434 shares of the company's stock worth $117,943,000 after purchasing an additional 1,056,583 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Rush Street Interactive by 1,617.7% during the 1st quarter. Alliancebernstein L.P. now owns 6,133,759 shares of the company's stock worth $65,754,000 after purchasing an additional 5,776,660 shares during the last quarter. Nuveen LLC acquired a new position in shares of Rush Street Interactive during the 1st quarter worth about $29,005,000. Arrowstreet Capital Limited Partnership raised its position in shares of Rush Street Interactive by 62.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,663,246 shares of the company's stock worth $36,540,000 after purchasing an additional 1,018,889 shares during the last quarter. Finally, Driehaus Capital Management LLC raised its position in shares of Rush Street Interactive by 12.7% during the 1st quarter. Driehaus Capital Management LLC now owns 2,480,268 shares of the company's stock worth $26,588,000 after purchasing an additional 279,751 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.

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