Rush Street Interactive (NYSE:RSI) Given New $18.00 Price Target at JPMorgan Chase & Co.

by · The Cerbat Gem

Rush Street Interactive (NYSE:RSI – Free Report) had its price objective increased by JPMorgan Chase & Co. from $16.00 to $18.00 in a research report report published on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other brokerages have also weighed in on RSI. Needham & Company LLC upped their target price on Rush Street Interactive from $17.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. Benchmark upped their target price on Rush Street Interactive from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday, September 8th. Susquehanna reiterated a “positive” rating and set a $19.00 price objective (up from $15.00) on shares of Rush Street Interactive in a research report on Wednesday, July 30th. Oppenheimer increased their price objective on Rush Street Interactive from $16.00 to $21.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Rush Street Interactive in a research report on Monday. Eight equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Rush Street Interactive presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.78.

View Our Latest Stock Report on Rush Street Interactive

Rush Street Interactive Stock Down 0.9%

Shares of NYSE RSI opened at $20.27 on Thursday. The firm has a market capitalization of $4.63 billion, a P/E ratio of 101.35 and a beta of 1.87. The stock’s 50-day simple moving average is $20.53 and its two-hundred day simple moving average is $15.88. Rush Street Interactive has a twelve month low of $9.54 and a twelve month high of $22.65.

Rush Street Interactive (NYSE:RSI – Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.03. The business had revenue of $269.22 million for the quarter, compared to analyst estimates of $248.98 million. Rush Street Interactive had a return on equity of 16.53% and a net margin of 2.48%.The company’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.04 EPS. Rush Street Interactive has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Rush Street Interactive will post 0.04 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Kyle Sauers sold 15,038 shares of the stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $22.34, for a total transaction of $335,948.92. Following the completion of the sale, the chief financial officer directly owned 418,651 shares in the company, valued at $9,352,663.34. This represents a 3.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Richard Todd Schwartz sold 96,987 shares of the stock in a transaction dated Thursday, October 9th. The shares were sold at an average price of $18.79, for a total value of $1,822,385.73. Following the sale, the chief executive officer owned 574,147 shares of the company’s stock, valued at $10,788,222.13. This represents a 14.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,477,847 shares of company stock valued at $28,465,288. 56.94% of the stock is owned by insiders.

Institutional Investors Weigh In On Rush Street Interactive

Several institutional investors have recently bought and sold shares of the stock. Alliancebernstein L.P. boosted its holdings in Rush Street Interactive by 1.3% during the 2nd quarter. Alliancebernstein L.P. now owns 6,214,230 shares of the company’s stock valued at $92,592,000 after acquiring an additional 80,471 shares during the period. Nuveen LLC bought a new stake in shares of Rush Street Interactive in the 1st quarter worth approximately $29,005,000. William Blair Investment Management LLC grew its position in shares of Rush Street Interactive by 4.8% in the 2nd quarter. William Blair Investment Management LLC now owns 2,675,601 shares of the company’s stock worth $39,866,000 after buying an additional 121,992 shares during the last quarter. Driehaus Capital Management LLC grew its position in shares of Rush Street Interactive by 12.7% in the 1st quarter. Driehaus Capital Management LLC now owns 2,480,268 shares of the company’s stock worth $26,588,000 after buying an additional 279,751 shares during the last quarter. Finally, Marshall Wace LLP grew its position in shares of Rush Street Interactive by 100.9% in the 2nd quarter. Marshall Wace LLP now owns 2,372,671 shares of the company’s stock worth $35,353,000 after buying an additional 1,191,546 shares during the last quarter. 24.78% of the stock is currently owned by hedge funds and other institutional investors.

About Rush Street Interactive

(Get Free Report)

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.

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