Rush Street Interactive (NYSE:RSI) Receives Hold (C) Rating from Weiss Ratings

Key Points

• Rush Street Interactive (NYSE:RSI) has received a "hold (c)" rating from Weiss Ratings, indicating a neutral stance from analysts on the stock's future performance.
• Despite the hold rating, several analysts have varying outlooks on Rush Street Interactive, with eight rating it as a buy and four as a hold, resulting in a consensus rating of "Moderate Buy" and an average price target of $18.33.
• In recent insider trading activities, COO Mattias Stetz and CFO Kyle Sauers sold significant amounts of company stock, raising concerns about insider sentiment and ownership levels within the company.

Rush Street Interactive (NYSE:RSI - Get Free Report)'s stock had its "hold (c)" rating reiterated by stock analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

RSI has been the subject of a number of other reports. Wall Street Zen cut Rush Street Interactive from a "strong-buy" rating to a "buy" rating in a report on Saturday, September 13th. Jefferies Financial Group boosted their price target on Rush Street Interactive from $17.00 to $18.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. Zacks Research lowered Rush Street Interactive from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 29th. JPMorgan Chase & Co. began coverage on Rush Street Interactive in a research note on Monday, June 23rd. They issued a "neutral" rating and a $14.00 target price for the company. Finally, Susquehanna reiterated a "positive" rating and issued a $19.00 target price (up from $15.00) on shares of Rush Street Interactive in a research note on Wednesday, July 30th. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $18.33.

Rush Street Interactive Stock Up 1.6%

NYSE RSI opened at $18.25 on Wednesday. Rush Street Interactive has a fifty-two week low of $9.54 and a fifty-two week high of $22.65. The stock has a market cap of $4.17 billion, a price-to-earnings ratio of 91.25 and a beta of 1.87. The business has a fifty day moving average of $20.54 and a 200-day moving average of $15.53.

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

Insider Activity at Rush Street Interactive

In other Rush Street Interactive news, COO Mattias Stetz sold 30,000 shares of the company's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $20.10, for a total transaction of $603,000.00. Following the completion of the sale, the chief operating officer directly owned 224,806 shares in the company, valued at $4,518,600.60. This represents a 11.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Kyle Sauers sold 15,038 shares of the company's stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $22.34, for a total value of $335,948.92. Following the sale, the chief financial officer owned 418,651 shares of the company's stock, valued at $9,352,663.34. This represents a 3.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,283,942 shares of company stock valued at $24,878,995 over the last three months. Insiders own 56.94% of the company's stock.

Institutional Investors Weigh In On Rush Street Interactive

Several institutional investors and hedge funds have recently added to or reduced their stakes in RSI. Alliancebernstein L.P. increased its stake in Rush Street Interactive by 1,617.7% during the first quarter. Alliancebernstein L.P. now owns 6,133,759 shares of the company's stock worth $65,754,000 after acquiring an additional 5,776,660 shares during the last quarter. Nuveen LLC acquired a new stake in Rush Street Interactive during the first quarter worth about $29,005,000. Marshall Wace LLP boosted its position in shares of Rush Street Interactive by 100.9% in the second quarter. Marshall Wace LLP now owns 2,372,671 shares of the company's stock worth $35,353,000 after buying an additional 1,191,546 shares during the period. 1060 Capital LLC purchased a new stake in shares of Rush Street Interactive in the second quarter worth about $11,222,000. Finally, Topline Capital Management LLC boosted its position in shares of Rush Street Interactive by 30.7% in the first quarter. Topline Capital Management LLC now owns 2,366,875 shares of the company's stock worth $25,373,000 after buying an additional 555,552 shares during the period. 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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