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 released on Friday morning.

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

Rush Street Interactive Stock Down 1.2%

Shares of RSI stock traded down $0.18 during trading hours on Friday, hitting $14.55. 1,183,920 shares of the company's stock traded hands, compared to its average volume of 1,745,075. The stock's 50 day simple moving average is $13.61 and its 200 day simple moving average is $13.01. The stock has a market cap of $3.33 billion, a PE ratio of 181.90 and a beta of 1.87. Rush Street Interactive has a 12 month low of $8.52 and a 12 month high of $16.78.

Rush Street Interactive (NYSE:RSI - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.09 earnings per share for the quarter, topping 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 business had revenue of $262.41 million during the quarter, compared to the consensus estimate of $258.90 million. During the same quarter last year, the firm earned $0.03 earnings per share. Rush Street Interactive's quarterly revenue was up 20.7% on a year-over-year basis. As a group, equities research analysts expect that Rush Street Interactive will post 0.04 EPS for the current fiscal year.

Insider Transactions at Rush Street Interactive

In other Rush Street Interactive news, CEO Richard Todd Schwartz sold 193,905 shares of Rush Street Interactive stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $15.39, for a total value of $2,984,197.95. Following the completion of the transaction, the chief executive officer directly owned 1,017,471 shares of the company's stock, valued at approximately $15,658,878.69. The trade was a 16.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Masi Niccolo De sold 286,769 shares of Rush Street Interactive stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $14.08, for a total transaction of $4,037,707.52. Following the completion of the sale, the director owned 921,884 shares of the company's stock, valued at $12,980,126.72. This represents a 23.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,147,520 shares of company stock valued at $30,097,728. 56.94% of the stock is currently owned by corporate insiders.

Institutional Trading of Rush Street Interactive

A number of large investors have recently made changes to their positions in RSI. Counterpoint Mutual Funds LLC bought a new stake in Rush Street Interactive during the second quarter valued at approximately $418,000. Farther Finance Advisors LLC bought a new stake in Rush Street Interactive during the second quarter valued at approximately $42,000. Diversified Trust Co bought a new stake in Rush Street Interactive during the second quarter valued at approximately $381,000. Assenagon Asset Management S.A. grew its position in Rush Street Interactive by 3.5% during the second quarter. Assenagon Asset Management S.A. now owns 561,266 shares of the company's stock valued at $8,363,000 after buying an additional 18,890 shares during the period. Finally, Exchange Traded Concepts LLC grew its position in Rush Street Interactive by 4.5% during the second quarter. Exchange Traded Concepts LLC now owns 250,467 shares of the company's stock valued at $3,732,000 after buying an additional 10,726 shares during the period. 24.78% of the stock is currently owned by institutional investors.

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.