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

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 released on Friday.

Several other equities research analysts also recently weighed in on RSI. Needham & Company LLC reaffirmed a "buy" rating and set a $17.00 price target on shares of Rush Street Interactive in a report on Thursday, May 1st. Susquehanna raised their price target on Rush Street Interactive from $14.00 to $15.00 and gave the company a "positive" rating in a research report on Thursday, May 1st. Benchmark lifted their price objective on Rush Street Interactive from $14.00 to $17.00 and gave the stock a "buy" rating in a research report on Tuesday, July 1st. Jefferies Financial Group lifted their price target on Rush Street Interactive from $17.00 to $18.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. Finally, JPMorgan Chase & Co. assumed coverage on Rush Street Interactive in a research note on Monday, June 23rd. They issued a "neutral" rating and a $14.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $15.89.

Rush Street Interactive Trading Down 0.4%

RSI traded down $0.05 on Friday, hitting $14.50. 514,599 shares of the company's stock were exchanged, compared to its average volume of 1,736,891. Rush Street Interactive has a fifty-two week low of $8.52 and a fifty-two week high of $16.78. The firm has a 50-day moving average price of $13.61 and a 200-day moving average price of $13.00. The stock has a market cap of $3.32 billion, a price-to-earnings ratio of 180.46 and a beta of 1.87.

Rush Street Interactive (NYSE:RSI - Get Free Report) last posted its 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 net margin of 0.87% and a return on equity of 7.35%. The company had revenue of $262.41 million for the quarter, compared to analysts' expectations of $258.90 million. During the same quarter in the prior year, the company posted $0.03 earnings per share. Rush Street Interactive's revenue for the quarter was up 20.7% compared to the same quarter last year. On average, equities analysts predict that Rush Street Interactive will post 0.04 EPS for the current year.

Insider Buying and Selling

In related news, CEO Richard Todd Schwartz sold 193,905 shares of the stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $15.39, for a total value of $2,984,197.95. Following the sale, the chief executive officer owned 1,017,471 shares in the company, valued at approximately $15,658,878.69. This trade represents a 16.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Masi Niccolo De sold 286,769 shares of the firm's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $14.08, for a total value of $4,037,707.52. Following the sale, the director owned 921,884 shares in the company, valued at $12,980,126.72. The trade was a 23.73% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,147,520 shares of company stock worth $30,097,728. 56.89% of the stock is owned by company insiders.

Institutional Trading of Rush Street Interactive

Large investors have recently bought and sold shares of the company. Alliancebernstein L.P. boosted its holdings 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 valued at $65,754,000 after purchasing an additional 5,776,660 shares during the last quarter. Nuveen LLC purchased a new stake in Rush Street Interactive in the 1st quarter worth about $29,005,000. Price T Rowe Associates Inc. MD raised its position 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 worth $27,843,000 after purchasing an additional 2,004,059 shares during the period. Topline Capital Management LLC purchased a new stake in Rush Street Interactive in the 4th quarter worth about $24,851,000. Finally, Nicholas Investment Partners LP purchased a new stake in Rush Street Interactive in the 4th quarter worth about $14,970,000. 24.78% of the stock is owned by institutional investors.

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.