Rush Street Interactive (NYSE:RSI) Cut to “Buy” at Wall Street Zen

by · The Markets Daily

Wall Street Zen cut shares of Rush Street Interactive (NYSE:RSI – Free Report) from a strong-buy rating to a buy rating in a research note released on Saturday.

A number of other analysts also recently issued reports on the company. JPMorgan Chase & Co. initiated coverage on Rush Street Interactive in a research report on Monday, June 23rd. They issued a “neutral” rating and a $14.00 target price for the company. Oppenheimer lifted their price target 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. Benchmark lifted their price target on Rush Street Interactive from $20.00 to $24.00 and gave the company a “buy” rating in a research report on Monday, September 8th. Needham & Company LLC lifted their price target on Rush Street Interactive from $17.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. Finally, 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 research report on Thursday, July 3rd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $18.33.

View Our Latest Research Report on RSI

Rush Street Interactive Trading Down 0.2%

Shares of Rush Street Interactive stock opened at $21.12 on Friday. The business’s fifty day simple moving average is $18.61 and its 200 day simple moving average is $14.41. Rush Street Interactive has a 12 month low of $9.54 and a 12 month high of $22.55. The firm has a market capitalization of $4.83 billion, a P/E ratio of 105.60 and a beta of 1.90.

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

Insider Buying and Selling

In other news, CEO Richard Todd Schwartz sold 57,167 shares of the business’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $20.87, for a total value of $1,193,075.29. Following the completion of the sale, the chief executive officer owned 823,566 shares of the company’s stock, valued at approximately $17,187,822.42. The trade was a 6.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Einar Roosileht sold 70,000 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $21.47, for a total value of $1,502,900.00. Following the completion of the sale, the insider directly owned 876,150 shares of the company’s stock, valued at approximately $18,810,940.50. This trade represents a 7.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,245,368 shares of company stock worth $38,517,025 in the last 90 days. 56.89% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Alliancebernstein L.P. raised its position 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 purchasing an additional 80,471 shares during the last quarter. Nuveen LLC bought a new position in Rush Street Interactive during the 1st quarter valued at approximately $29,005,000. William Blair Investment Management LLC raised its position in Rush Street Interactive by 4.8% during the 2nd quarter. William Blair Investment Management LLC now owns 2,675,601 shares of the company’s stock valued at $39,866,000 after purchasing an additional 121,992 shares during the last quarter. Driehaus Capital Management LLC raised its position in Rush Street Interactive by 12.7% during the 1st quarter. Driehaus Capital Management LLC now owns 2,480,268 shares of the company’s stock valued at $26,588,000 after purchasing an additional 279,751 shares during the last quarter. Finally, Marshall Wace LLP raised its position in Rush Street Interactive by 100.9% during the 2nd quarter. Marshall Wace LLP now owns 2,372,671 shares of the company’s stock valued at $35,353,000 after purchasing an additional 1,191,546 shares during the last quarter. Institutional investors own 24.78% of the company’s stock.

Rush Street Interactive Company Profile

(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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