Rush Street Interactive (NYSE:RSI) Raised to Strong-Buy at Wall Street Zen

Rush Street Interactive (NYSE:RSI - Get Free Report) was upgraded by analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued to clients and investors on Monday.

RSI has been the subject of a number of other research reports. Macquarie reaffirmed an "outperform" rating and set a $16.00 price objective on shares of Rush Street Interactive in a research report on Friday, May 2nd. Benchmark increased their price objective on shares of Rush Street Interactive from $12.00 to $14.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Wells Fargo & Company increased 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. Susquehanna raised their price target 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. Finally, Needham & Company LLC reissued a "buy" rating and issued a $17.00 price target on shares of Rush Street Interactive in a research report on Thursday, May 1st. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Rush Street Interactive has a consensus rating of "Buy" and a consensus price target of $15.63.

Rush Street Interactive Price Performance

Shares of NYSE RSI opened at $13.41 on Monday. The company has a 50 day simple moving average of $11.87 and a 200-day simple moving average of $12.87. The company has a market capitalization of $3.07 billion, a P/E ratio of -670.55 and a beta of 1.85. Rush Street Interactive has a 1 year low of $8.52 and a 1 year high of $16.78.

Rush Street Interactive (NYSE:RSI - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $262.41 million during the quarter, compared to analysts' expectations of $258.90 million. Rush Street Interactive had a negative net margin of 0.16% and a negative return on equity of 3.73%. The firm's quarterly revenue was up 20.7% on a year-over-year basis. During the same quarter last year, the company posted $0.03 EPS. As a group, research analysts expect that Rush Street Interactive will post 0.04 EPS for the current year.

Insider Activity

In other news, COO Mattias Stetz sold 3,777 shares of the firm's stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $12.08, for a total value of $45,626.16. Following the sale, the chief operating officer now directly owns 421,051 shares in the company, valued at approximately $5,086,296.08. This trade represents a 0.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Richard Todd Schwartz sold 193,905 shares of the firm's stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $10.63, for a total transaction of $2,061,210.15. Following the completion of the sale, the chief executive officer now owns 1,599,186 shares in the company, valued at $16,999,347.18. The trade was a 10.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 614,238 shares of company stock worth $6,953,074. 56.94% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rush Street Interactive

A number of hedge funds and other institutional investors have recently modified their holdings of RSI. Barclays PLC raised its holdings in shares of Rush Street Interactive by 178.6% in the 3rd quarter. Barclays PLC now owns 192,628 shares of the company's stock valued at $2,090,000 after purchasing an additional 123,486 shares in the last quarter. Legato Capital Management LLC acquired a new stake in Rush Street Interactive during the 4th quarter worth $1,897,000. Rhumbline Advisers raised its stake in Rush Street Interactive by 2.4% during the 4th quarter. Rhumbline Advisers now owns 103,426 shares of the company's stock worth $1,419,000 after acquiring an additional 2,457 shares in the last quarter. Principal Financial Group Inc. raised its stake in Rush Street Interactive by 10.8% during the 4th quarter. Principal Financial Group Inc. now owns 86,051 shares of the company's stock worth $1,181,000 after acquiring an additional 8,393 shares in the last quarter. Finally, New York State Common Retirement Fund raised its stake in Rush Street Interactive by 732.2% during the 4th quarter. New York State Common Retirement Fund now owns 177,627 shares of the company's stock worth $2,437,000 after acquiring an additional 156,282 shares in the last quarter. 24.78% of the stock is currently owned by institutional investors and hedge funds.

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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