Rush Street Interactive (NYSE:RSI) Raised to "Strong-Buy" at 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 analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued on Monday, August 25th,Zacks.com reports.

A number of other analysts have also recently commented on RSI. Benchmark lifted their target price on shares of Rush Street Interactive from $17.00 to $20.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Jefferies Financial Group lifted their target price on shares of Rush Street Interactive from $17.00 to $18.00 and gave the stock a "buy" rating in a research note on Thursday, July 3rd. Wall Street Zen cut shares of Rush Street Interactive from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 16th. 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. Finally, Macquarie reiterated an "outperform" rating and issued a $16.00 target price on shares of Rush Street Interactive in a research note on Friday, May 2nd. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Rush Street Interactive presently has a consensus rating of "Moderate Buy" and an average target price of $17.89.

Rush Street Interactive Trading Down 0.1%

Shares of NYSE:RSI traded down $0.03 during trading on Monday, reaching $22.31. The stock had a trading volume of 1,243,366 shares, compared to its average volume of 1,520,606. Rush Street Interactive has a one year low of $8.80 and a one year high of $22.55. The company has a market capitalization of $5.10 billion, a P/E ratio of 111.53 and a beta of 1.90. The firm's 50-day simple moving average is $17.31 and its 200 day simple moving average is $13.90.

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, beating 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 business had revenue of $269.22 million for the quarter, compared to analysts' expectations of $248.98 million. During the same period last year, the business earned $0.04 EPS. The company's revenue was up 22.2% compared to the same quarter last year. Rush Street Interactive has set its FY 2025 guidance at EPS. Equities research analysts forecast that Rush Street Interactive will post 0.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Rush Street Interactive

In other Rush Street Interactive news, CEO Richard Todd Schwartz sold 100,000 shares of Rush Street Interactive stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $18.62, for a total transaction of $1,862,000.00. Following the completion of the sale, the chief executive officer directly owned 823,566 shares in the company, valued at approximately $15,334,798.92. The trade was a 10.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Paul Wierbicki sold 35,000 shares of Rush Street Interactive stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $19.45, for a total transaction of $680,750.00. Following the sale, the insider owned 91,705 shares of the company's stock, valued at approximately $1,783,662.25. The trade was a 27.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,721,090 shares of company stock worth $42,842,298. Corporate insiders own 56.89% of the company's stock.

Hedge Funds Weigh In On Rush Street Interactive

Several institutional investors have recently made changes to their positions in RSI. LPL Financial LLC purchased a new position in shares of Rush Street Interactive during the 4th quarter valued at approximately $173,000. Raymond James Financial Inc. purchased a new position in shares of Rush Street Interactive during the 4th quarter valued at approximately $1,282,000. Barclays PLC increased its holdings in shares of Rush Street Interactive by 9.9% during the 4th quarter. Barclays PLC now owns 211,724 shares of the company's stock valued at $2,905,000 after purchasing an additional 19,096 shares in the last quarter. NewEdge Advisors LLC purchased a new position in shares of Rush Street Interactive during the 4th quarter valued at approximately $148,000. Finally, MetLife Investment Management LLC increased its holdings in shares of Rush Street Interactive by 5.6% during the 4th quarter. MetLife Investment Management LLC now owns 47,125 shares of the company's stock valued at $647,000 after purchasing an additional 2,505 shares in the last quarter. 24.78% of the stock is owned by hedge funds and other institutional investors.

Rush Street Interactive Company Profile

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.