Rush Street Interactive (NYSE:RSI) Stock Gets Price Target Reduction from JPMorgan Chase & Co.

by · The Cerbat Gem

Rush Street Interactive (NYSE:RSI – Free Report) had its target price decreased by JPMorgan Chase & Co. from $30.00 to $22.00 in a research note published on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other analysts also recently issued reports on the company. Needham & Company LLC lifted their price objective on Rush Street Interactive from $33.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Citigroup reiterated a “market outperform” rating on shares of Rush Street Interactive in a research report on Tuesday, September 22nd. Citizens Jmp reissued a “market outperform” rating and issued a $34.00 target price on shares of Rush Street Interactive in a report on Tuesday, September 22nd. Wells Fargo & Company boosted their price target on shares of Rush Street Interactive from $35.00 to $36.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Finally, Susquehanna reduced their price target on shares of Rush Street Interactive from $37.00 to $27.00 and set a “positive” rating on the stock in a research report on Friday, October 9th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $32.36.

Get Our Latest Report on Rush Street Interactive

Rush Street Interactive Trading Down 2.8%

Shares of RSI stock opened at $16.37 on Tuesday. The stock has a market capitalization of $3.80 billion, a price-to-earnings ratio of 56.46 and a beta of 1.71. Rush Street Interactive has a 12-month low of $15.51 and a 12-month high of $34.53. The stock’s 50-day moving average price is $22.82 and its 200-day moving average price is $26.02.

Rush Street Interactive (NYSE:RSI – Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.15 EPS for the quarter, meeting analysts’ consensus estimates of $0.15. The company had revenue of $393.78 million during the quarter, compared to analyst estimates of $367.75 million. Rush Street Interactive had a return on equity of 18.88% and a net margin of 2.33%. The firm’s revenue was up 46.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.11 earnings per share. As a group, research analysts predict that Rush Street Interactive will post 0.49 EPS for the current fiscal year.

Insider Buying and Selling

In other Rush Street Interactive news, COO Mattias Stetz sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $19.87, for a total transaction of $397,400.00. Following the sale, the chief operating officer directly owned 137,874 shares in the company, valued at $2,739,556.38. This represents a 12.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jack Markell acquired 1,500 shares of the stock in a transaction dated Friday, September 25th. The stock was bought at an average cost of $19.35 per share, with a total value of $29,025.00. Following the completion of the purchase, the director directly owned 18,883 shares in the company, valued at approximately $365,386.05. The trade was a 8.63% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders sold 603,998 shares of company stock valued at $14,814,268. Insiders own 52.89% of the company’s stock.

Institutional Trading of Rush Street Interactive

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sterling Capital Management LLC lifted its position in Rush Street Interactive by 945.1% in the third quarter. Sterling Capital Management LLC now owns 3,731 shares of the company’s stock worth $76,000 after buying an additional 3,374 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Rush Street Interactive by 53.8% during the third quarter. Nisa Investment Advisors LLC now owns 8,301 shares of the company’s stock worth $169,000 after buying an additional 2,904 shares during the period. First Citizens Bank & Trust Co. purchased a new position in Rush Street Interactive during the third quarter worth $212,000. CoreCap Advisors LLC increased its position in Rush Street Interactive by 629.6% during the third quarter. CoreCap Advisors LLC now owns 13,132 shares of the company’s stock valued at $267,000 after acquiring an additional 11,332 shares during the last quarter. Finally, Tidal Investments LLC bought a new position in Rush Street Interactive during the second quarter valued at $1,323,000. Hedge funds and other institutional investors own 24.78% of the company’s stock.

Rush Street Interactive Company Profile

(Get Free Report)

Rush Street Interactive, Inc is an online gaming and sports betting company that operates regulated internet casino and sportsbook platforms. Its primary consumer brands include BetRivers, PlaySugarHouse and RushBet, offering online casino games, sports wagering and related digital gaming products through websites and mobile applications.

The company serves customers in regulated markets across the United States and Latin America, with operations also extending to select international jurisdictions.

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