Rush Street Interactive (NYSE:RSI) Shares Up 3.9% - Time to Buy?

Shares of Rush Street Interactive, Inc. (NYSE:RSI - Get Free Report) traded up 3.9% on Wednesday . The stock traded as high as $12.32 and last traded at $12.41. 432,774 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 1,848,034 shares. The stock had previously closed at $11.94.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Susquehanna upped their target price on Rush Street Interactive from $14.00 to $15.00 and gave the stock a "positive" rating in a report on Thursday, May 1st. Wells Fargo & Company upped their target price on Rush Street Interactive from $14.00 to $15.00 and gave the stock an "overweight" rating in a report on Thursday, February 27th. Benchmark upped their price objective on Rush Street Interactive from $12.00 to $14.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Wall Street Zen upgraded Rush Street Interactive from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 24th. Finally, Macquarie restated an "outperform" rating and set a $16.00 price objective on shares of Rush Street Interactive in a research note on Friday, May 2nd. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $15.63.

Rush Street Interactive Stock Down 1.0%

The business has a 50 day simple moving average of $11.68 and a 200 day simple moving average of $12.82. The company has a market capitalization of $2.91 billion, a PE ratio of -636.00 and a beta of 1.88.

Rush Street Interactive (NYSE:RSI - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.09 EPS for the quarter, beating analysts' consensus estimates of $0.08 by $0.01. Rush Street Interactive had a negative return on equity of 3.73% and a negative net margin of 0.16%. The company had revenue of $262.41 million during the quarter, compared to analysts' expectations of $258.90 million. During the same period last year, the business posted $0.03 earnings per share. The firm's revenue was up 20.7% compared to the same quarter last year. Equities analysts expect that Rush Street Interactive, Inc. will post 0.04 EPS for the current fiscal year.

Insider Buying and Selling

In other Rush Street Interactive news, CEO Richard Todd Schwartz sold 106,952 shares of the stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $11.86, for a total transaction of $1,268,450.72. Following the transaction, the chief executive officer now owns 1,492,234 shares in the company, valued at approximately $17,697,895.24. This represents a 6.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Einar Roosileht sold 60,000 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $10.69, for a total value of $641,400.00. Following the transaction, the insider now owns 956,150 shares in the company, valued at $10,221,243.50. This represents a 5.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 723,805 shares of company stock valued at $7,957,809 over the last ninety days. Company insiders own 56.94% of the company's stock.

Hedge Funds Weigh In On Rush Street Interactive

A number of institutional investors have recently added to or reduced their stakes in RSI. Pacer Advisors Inc. raised its position in Rush Street Interactive by 94.7% in the first quarter. Pacer Advisors Inc. now owns 2,533 shares of the company's stock valued at $27,000 after purchasing an additional 1,232 shares during the period. R Squared Ltd purchased a new stake in Rush Street Interactive in the fourth quarter valued at $28,000. Summit Securities Group LLC purchased a new stake in Rush Street Interactive in the first quarter valued at $33,000. Heck Capital Advisors LLC purchased a new stake in Rush Street Interactive in the fourth quarter valued at $34,000. Finally, GAMMA Investing LLC raised its position in Rush Street Interactive by 1,687.6% in 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 during the period. Hedge funds and other institutional investors own 24.78% of the company's stock.

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.