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

Key Points

• Rush Street Interactive stock rating has been downgraded from "strong-buy" to "buy" by Wall Street Zen in a recent research note.
• Multiple brokerages have recently raised their price targets for Rush Street Interactive, with Needham & Company setting the highest target at $21.00.
• In recent insider trading activity, Director Judith Gold sold 100,000 shares, marking a 47.25% decrease in her holdings, while CEO Richard Todd Schwartz also reduced his stake by 16.01%.

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

A number of other brokerages have also recently issued reports on RSI. Benchmark raised their target price on shares of Rush Street Interactive from $17.00 to $20.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Macquarie reaffirmed an "outperform" rating and set a $16.00 price target on shares of Rush Street Interactive in a report on Friday, May 2nd. Susquehanna reaffirmed a "positive" rating and set a $19.00 price target (up previously from $15.00) on shares of Rush Street Interactive in a report on Wednesday, July 30th. Needham & Company LLC lifted their price target on Rush Street Interactive from $17.00 to $21.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Finally, Jefferies Financial Group lifted their price target on Rush Street Interactive from $17.00 to $18.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $17.89.

Rush Street Interactive Stock Up 3.8%

Shares of NYSE RSI opened at $19.54 on Friday. The firm's 50-day moving average price is $15.71 and its two-hundred day moving average price is $13.45. Rush Street Interactive has a 52-week low of $8.76 and a 52-week high of $20.32. The stock has a market capitalization of $4.46 billion, a P/E ratio of 97.70 and a beta of 1.90.

Rush Street Interactive (NYSE:RSI - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.08 by $0.03. Rush Street Interactive had a net margin of 2.48% and a return on equity of 16.53%. The firm had revenue of $269.22 million for the quarter, compared to analysts' expectations of $248.98 million. During the same quarter last year, the company posted $0.04 earnings per share. Rush Street Interactive's revenue was up 22.2% on a year-over-year basis. As a group, equities research analysts expect that Rush Street Interactive will post 0.04 earnings per share for the current year.

Insider Buying and Selling at Rush Street Interactive

In other Rush Street Interactive news, Director Judith Gold sold 100,000 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $19.61, for a total transaction of $1,961,000.00. Following the completion of the transaction, the director directly owned 111,629 shares of the company's stock, valued at approximately $2,189,044.69. This trade represents a 47.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Richard Todd Schwartz sold 193,905 shares of the stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $15.39, for a total value of $2,984,197.95. Following the transaction, the chief executive officer directly owned 1,017,471 shares of the company's stock, valued at approximately $15,658,878.69. The trade was a 16.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,816,090 shares of company stock valued at $44,026,948. 56.94% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rush Street Interactive

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its stake in Rush Street Interactive by 28.0% during the 4th quarter. Bank of America Corp DE now owns 563,769 shares of the company's stock valued at $7,735,000 after purchasing an additional 123,305 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Rush Street Interactive by 72.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 542,376 shares of the company's stock valued at $5,814,000 after acquiring an additional 228,187 shares during the last quarter. Calamos Advisors LLC lifted its position in shares of Rush Street Interactive by 17.9% during the 1st quarter. Calamos Advisors LLC now owns 540,008 shares of the company's stock valued at $5,789,000 after acquiring an additional 82,067 shares during the last quarter. Two Sigma Investments LP acquired a new stake in shares of Rush Street Interactive during the 4th quarter valued at $783,000. Finally, GAMMA Investing LLC lifted its position in shares of Rush Street Interactive by 1,687.6% during the 1st quarter. GAMMA Investing LLC now owns 6,507 shares of the company's stock valued at $70,000 after acquiring an additional 6,143 shares during the last quarter. 24.78% of the stock is owned by institutional investors.

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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