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 report published on Saturday morning.

Other equities research analysts have also issued reports about the company. Macquarie reiterated an "outperform" rating and issued a $16.00 price objective on shares of Rush Street Interactive in a research note on Friday, May 2nd. Wells Fargo & Company increased their price target on Rush Street Interactive from $14.00 to $15.00 and gave the stock an "overweight" rating in a research report on Thursday, February 27th. Susquehanna increased their price target on Rush Street Interactive from $14.00 to $15.00 and gave the stock a "positive" rating in a research report on Thursday, May 1st. Benchmark increased their price objective on 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 reiterated 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 investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Rush Street Interactive presently has a consensus rating of "Buy" and an average price target of $15.63.

Rush Street Interactive Stock Up 2.8%

Rush Street Interactive stock traded up $0.36 during trading hours on Friday, hitting $12.85. The stock had a trading volume of 1,911,570 shares, compared to its average volume of 1,835,753. Rush Street Interactive has a fifty-two week low of $8.52 and a fifty-two week high of $16.78. The company has a market cap of $2.94 billion, a PE ratio of -642.25 and a beta of 1.88. The company has a 50-day moving average of $11.65 and a two-hundred day moving average of $12.81.

Rush Street Interactive (NYSE:RSI - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $258.90 million. During the same period in the prior year, the company posted $0.03 EPS. The company's revenue was up 20.7% compared to the same quarter last year. As a group, analysts forecast that Rush Street Interactive will post 0.04 EPS for the current fiscal year.

Insider Activity

In related news, insider Einar Roosileht sold 70,000 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $11.67, for a total transaction of $816,900.00. Following the sale, the insider now owns 946,150 shares of the company's stock, valued at approximately $11,041,570.50. This trade represents a 6.89% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Richard Todd Schwartz sold 106,952 shares of the firm's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $11.86, for a total value of $1,268,450.72. Following the sale, the chief executive officer now directly owns 1,492,234 shares in the company, valued at $17,697,895.24. The trade was a 6.69% 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 in the last 90 days. 56.94% of the stock is owned by company insiders.

Institutional Trading of Rush Street Interactive

Several hedge funds have recently added to or reduced their stakes in RSI. Alliancebernstein L.P. raised its stake in 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 period. Nuveen LLC bought a new stake in shares of Rush Street Interactive in the first quarter valued at about $29,005,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Rush Street Interactive by 7,958.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,029,239 shares of the company's stock valued at $27,843,000 after purchasing an additional 2,004,059 shares in the last quarter. Topline Capital Management LLC bought a new stake in shares of Rush Street Interactive in the fourth quarter valued at about $24,851,000. Finally, William Blair Investment Management LLC bought a new stake in shares of Rush Street Interactive in the fourth quarter valued at about $21,635,000. Institutional investors and hedge funds 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.