Wall Street Zen Upgrades Rush Street Interactive (NYSE:RSI) to Strong-Buy

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 report report published on Saturday morning.

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

Rush Street Interactive Price Performance

Shares of Rush Street Interactive stock traded up $0.31 during trading on Friday, hitting $12.25. The company's stock had a trading volume of 328,946 shares, compared to its average volume of 1,778,580. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of -612.25 and a beta of 1.88. Rush Street Interactive has a 52 week low of $8.52 and a 52 week high of $16.78. The stock has a 50-day moving average price of $11.59 and a two-hundred day moving average price of $12.81.

Rush Street Interactive (NYSE:RSI - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.01. The business had revenue of $262.41 million for the quarter, compared to analyst estimates of $258.90 million. Rush Street Interactive had a negative net margin of 0.16% and a negative return on equity of 3.73%. Rush Street Interactive's revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.03 earnings per share. On average, equities analysts predict that Rush Street Interactive will post 0.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other Rush Street Interactive news, CEO Richard Todd Schwartz sold 106,952 shares of the firm's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $11.86, for a total value of $1,268,450.72. Following the completion of the transaction, the chief executive officer now directly owns 1,492,234 shares of the company's stock, valued at $17,697,895.24. This trade represents a 6.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Mattias Stetz sold 3,777 shares of the firm's stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $12.08, for a total transaction of $45,626.16. Following the sale, the chief operating officer now owns 421,051 shares in the company, valued at approximately $5,086,296.08. This trade represents a 0.89% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 723,805 shares of company stock valued at $7,957,809. Corporate insiders own 56.94% of the company's stock.

Institutional Trading of Rush Street Interactive

Institutional investors and hedge funds have recently made changes to their positions in the stock. Caxton Associates LLP purchased a new position in Rush Street Interactive in the 1st quarter worth $731,000. Goldman Sachs Group Inc. boosted its stake in shares of Rush Street Interactive by 18.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 689,701 shares of the company's stock valued at $7,394,000 after purchasing an additional 109,366 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Rush Street Interactive by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,163 shares of the company's stock valued at $484,000 after purchasing an additional 1,893 shares in the last quarter. Alliancebernstein L.P. boosted its stake in Rush Street Interactive by 1,617.7% during the first quarter. Alliancebernstein L.P. now owns 6,133,759 shares of the company's stock worth $65,754,000 after acquiring an additional 5,776,660 shares in the last quarter. Finally, PDT Partners LLC boosted its stake in Rush Street Interactive by 285.6% during the first quarter. PDT Partners LLC now owns 187,803 shares of the company's stock worth $2,013,000 after acquiring an additional 139,094 shares in the last quarter. 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.