Rush Street Interactive (NYSE:RSI) Stock Rating Upgraded by Zacks Research

Key Points

• Rush Street Interactive has been upgraded by Zacks Research from a "hold" rating to a "strong-buy" rating, reflecting growing confidence in the company's performance.
• The company reported a quarterly earnings per share (EPS) of $0.11, exceeding analysts' expectations and showing a year-over-year revenue increase of 22.2%.
• Insider trading activity includes significant stock sales by Einar Roosileht and COO Mattias Stetz, indicating a 7.40% and 9.34% decrease in their positions, respectively.

Rush Street Interactive (NYSE:RSI - Get Free Report) was upgraded by Zacks Research from a "hold" rating to a "strong-buy" rating in a note issued to investors on Monday,Zacks.com reports.

RSI has been the subject of several other reports. Macquarie reiterated an "outperform" rating and issued a $16.00 price target on shares of Rush Street Interactive in a research note on Friday, May 2nd. Susquehanna reiterated a "positive" rating and issued a $19.00 price target (up from $15.00) on shares of Rush Street Interactive in a research note on Wednesday, July 30th. Oppenheimer increased their price target on shares of Rush Street Interactive from $16.00 to $21.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Wall Street Zen lowered shares of Rush Street Interactive from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 16th. Finally, Needham & Company LLC increased their price target on shares of Rush Street Interactive from $17.00 to $21.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Rush Street Interactive currently has a consensus rating of "Moderate Buy" and a consensus target price of $17.89.

Rush Street Interactive Trading Up 3.2%

Shares of NYSE RSI opened at $21.67 on Monday. The firm has a fifty day simple moving average of $16.66 and a two-hundred day simple moving average of $13.73. The firm has a market capitalization of $4.95 billion, a PE ratio of 108.33 and a beta of 1.90. Rush Street Interactive has a 12 month low of $8.76 and a 12 month high of $21.80.

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

Insider Activity

In other news, insider Einar Roosileht sold 70,000 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $18.95, for a total transaction of $1,326,500.00. Following the sale, the insider owned 876,150 shares of the company's stock, valued at $16,603,042.50. This trade represents a 7.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Mattias Stetz sold 30,000 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $19.30, for a total transaction of $579,000.00. Following the sale, the chief operating officer directly owned 291,051 shares in the company, valued at approximately $5,617,284.30. The trade was a 9.34% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,816,090 shares of company stock worth $44,026,948. 56.89% of the stock is owned by corporate insiders.

Institutional Trading of Rush Street Interactive

A number of institutional investors have recently made changes to their positions in RSI. Pacer Advisors Inc. boosted its holdings in shares of Rush Street Interactive by 94.7% during the 1st quarter. Pacer Advisors Inc. now owns 2,533 shares of the company's stock valued at $27,000 after acquiring an additional 1,232 shares during the last quarter. Summit Securities Group LLC purchased a new stake in shares of Rush Street Interactive during the 1st quarter valued at about $33,000. Heck Capital Advisors LLC purchased a new stake in shares of Rush Street Interactive during the 4th quarter valued at about $34,000. Farther Finance Advisors LLC purchased a new stake in shares of Rush Street Interactive during the 2nd quarter valued at about $42,000. Finally, GAMMA Investing LLC boosted its holdings 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. Hedge funds and other 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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