Rush Street Interactive (NYSE:RSI) Upgraded by Wall Street Zen to "Strong-Buy" Rating

Wall Street Zen upgraded shares of Rush Street Interactive (NYSE:RSI - Free Report) from a buy rating to a strong-buy rating in a research note published on Saturday.

RSI has been the subject of a number of other reports. Macquarie reissued an "outperform" rating and issued a $16.00 price target on shares of Rush Street Interactive in a report on Friday, May 2nd. Susquehanna increased their target price on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock a "positive" rating in a research report on Thursday, May 1st. Wells Fargo & Company increased their target price on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock an "overweight" rating in a research report on Thursday, February 27th. Benchmark raised their price objective on shares of Rush Street Interactive from $12.00 to $14.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Finally, Needham & Company LLC restated a "buy" rating and issued a $17.00 price objective on shares of Rush Street Interactive in a research report on Thursday, May 1st. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Rush Street Interactive presently has an average rating of "Buy" and a consensus price target of $15.63.

Rush Street Interactive Price Performance

Shares of NYSE RSI traded up $0.08 during trading hours on Friday, hitting $11.91. 888,151 shares of the stock were exchanged, compared to its average volume of 1,853,249. The company's 50 day moving average is $11.57 and its 200 day moving average is $12.81. The firm has a market capitalization of $2.73 billion, a P/E ratio of -595.25 and a beta of 1.88. Rush Street Interactive has a one year low of $8.52 and a one year high of $16.78.

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

Insider Activity

In other news, CEO Richard Todd Schwartz sold 193,905 shares of Rush Street Interactive stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $10.63, for a total value of $2,061,210.15. Following the sale, the chief executive officer now directly owns 1,599,186 shares in the company, valued at $16,999,347.18. This trade represents a 10.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Mattias Stetz sold 25,000 shares of Rush Street Interactive stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $11.73, for a total transaction of $293,250.00. Following the completion of the sale, the chief operating officer now owns 531,089 shares in the company, valued at $6,229,673.97. This trade represents a 4.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 723,805 shares of company stock worth $7,957,809 over the last ninety days. 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 the company. Alliancebernstein L.P. lifted its stake in shares of Rush Street Interactive by 1,617.7% during the 1st quarter. Alliancebernstein L.P. now owns 6,133,759 shares of the company's stock worth $65,754,000 after buying an additional 5,776,660 shares during the last quarter. Nuveen LLC bought a new position in Rush Street Interactive in the 1st quarter valued at about $29,005,000. Price T Rowe Associates Inc. MD raised its holdings in Rush Street Interactive by 7,958.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,029,239 shares of the company's stock valued at $27,843,000 after acquiring an additional 2,004,059 shares during the period. Topline Capital Management LLC bought a new position in Rush Street Interactive in the 4th quarter valued at about $24,851,000. Finally, William Blair Investment Management LLC bought a new position in Rush Street Interactive in the 4th quarter valued at about $21,635,000. 24.78% of the stock is currently owned by institutional investors and hedge funds.

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.