Rush Street Interactive (NYSE:RSI) Stock Price Up 9.2% - Time to Buy?

Key Points

• Rush Street Interactive's (NYSE:RSI) stock price increased by 9.2% following a strong quarterly earnings report, reaching a trading high of $19.54 before closing at $18.90.
• Analysts have issued a consensus rating of "Moderate Buy" for Rush Street Interactive, with price targets ranging from $18.00 to $21.00.
• Insider trading activity saw the CEO and COO each selling a significant number of shares, with 56.89% of the stock still owned by corporate insiders.

Rush Street Interactive, Inc. (NYSE:RSI - Get Free Report)'s share price traded up 9.2% on Monday . The stock traded as high as $19.54 and last traded at $18.90. 421,600 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 1,675,998 shares. The stock had previously closed at $17.30.

Analysts Set New Price Targets

Several research analysts recently weighed in on RSI shares. Weiss Ratings restated a "hold (c)" rating on shares of Rush Street Interactive in a research report on Wednesday, October 8th. JPMorgan Chase & Co. raised their price objective on shares of Rush Street Interactive from $16.00 to $18.00 and gave the company a "neutral" rating in a research report on Thursday. Oppenheimer lifted their price objective on shares of Rush Street Interactive from $16.00 to $21.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Jefferies Financial Group reissued a "buy" rating on shares of Rush Street Interactive in a research note on Monday, October 13th. Finally, Zacks Research lowered Rush Street Interactive from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 29th. Eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $19.78.

Rush Street Interactive Stock Up 8.7%

The firm's 50-day simple moving average is $20.51 and its 200-day simple moving average is $15.99. The firm has a market capitalization of $4.30 billion, a PE ratio of 94.02 and a beta of 1.87.

Rush Street Interactive (NYSE:RSI - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.11 earnings per share for the quarter, beating 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 analyst estimates of $248.98 million. During the same quarter in the previous year, the company posted $0.04 EPS. Rush Street Interactive's revenue for the quarter was up 22.2% on a year-over-year basis. Rush Street Interactive has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Rush Street Interactive, Inc. will post 0.04 earnings per share for the current year.

Insider Activity

In related news, CEO Richard Todd Schwartz sold 96,987 shares of the company's stock in a transaction that occurred on Thursday, October 9th. The stock was sold at an average price of $18.79, for a total transaction of $1,822,385.73. Following the completion of the transaction, the chief executive officer owned 574,147 shares in the company, valued at $10,788,222.13. This represents a 14.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Mattias Stetz sold 30,000 shares of Rush Street Interactive stock in a transaction on Wednesday, October 1st. The shares were 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 owned 224,806 shares in the company, valued at approximately $4,518,600.60. This trade represents a 11.77% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,477,847 shares of company stock valued at $28,465,288. 56.89% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rush Street Interactive

A number of large investors have recently modified their holdings of RSI. Pacer Advisors Inc. lifted its holdings in Rush Street Interactive by 94.7% in the first quarter. Pacer Advisors Inc. now owns 2,533 shares of the company's stock worth $27,000 after buying an additional 1,232 shares during the period. Summit Securities Group LLC bought a new position in shares of Rush Street Interactive in the 1st quarter worth approximately $33,000. Farther Finance Advisors LLC purchased a new position in shares of Rush Street Interactive in the 2nd quarter valued at approximately $42,000. GAMMA Investing LLC boosted its position in shares of Rush Street Interactive by 1,687.6% during the first quarter. GAMMA Investing LLC now owns 6,507 shares of the company's stock valued at $70,000 after purchasing an additional 6,143 shares in the last quarter. Finally, Osaic Holdings Inc. boosted its position in shares of Rush Street Interactive by 62.2% during the second quarter. Osaic Holdings Inc. now owns 4,872 shares of the company's stock valued at $73,000 after purchasing an additional 1,868 shares in the last quarter. Institutional investors own 24.78% of the company's stock.

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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