Rush Street Interactive, Inc. (NYSE:RSI) Receives $11.17 Average Target Price from Brokerages

Shares of Rush Street Interactive, Inc. (NYSE:RSI) have received a consensus rating of “Moderate Buy” from the six ratings firms that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $11.17.

Several research firms recently weighed in on RSI. Craig Hallum lifted their price target on Rush Street Interactive from $11.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Wells Fargo & Company boosted their target price on shares of Rush Street Interactive from $11.00 to $13.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Oppenheimer increased their price target on shares of Rush Street Interactive from $10.00 to $14.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Finally, Needham & Company LLC boosted their price objective on shares of Rush Street Interactive from $10.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st.

Rush Street Interactive Trading Up 0.6 %

Shares of Rush Street Interactive stock opened at $10.66 on Monday. Rush Street Interactive has a 12-month low of $3.17 and a 12-month high of $11.59. The company has a market cap of $2.40 billion, a P/E ratio of -62.71 and a beta of 1.78. The company’s fifty day simple moving average is $9.70 and its two-hundred day simple moving average is $8.52.

Rush Street Interactive (NYSE:RSI) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.06. The company had revenue of $220.38 million during the quarter, compared to the consensus estimate of $201.37 million. Rush Street Interactive had a negative net margin of 0.84% and a negative return on equity of 12.45%. Rush Street Interactive’s revenue was up 33.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.08) earnings per share. Analysts predict that Rush Street Interactive will post -0.01 EPS for the current fiscal year.

Insider Activity at Rush Street Interactive

In other Rush Street Interactive news, CEO Richard Todd Schwartz sold 40,498 shares of Rush Street Interactive stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $10.18, for a total value of $412,269.64. Following the completion of the sale, the chief executive officer now owns 1,862,997 shares of the company’s stock, valued at approximately $18,965,309.46. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Rush Street Interactive news, insider Paul Wierbicki sold 20,437 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $9.53, for a total transaction of $194,764.61. Following the completion of the sale, the insider now owns 174,982 shares of the company’s stock, valued at $1,667,578.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard Todd Schwartz sold 40,498 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $10.18, for a total value of $412,269.64. Following the completion of the transaction, the chief executive officer now directly owns 1,862,997 shares in the company, valued at approximately $18,965,309.46. The disclosure for this sale can be found here. Insiders have sold a total of 548,210 shares of company stock worth $5,179,362 over the last quarter. Company insiders own 56.89% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RSI. Allspring Global Investments Holdings LLC raised its stake in Rush Street Interactive by 13,627.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,943 shares of the company’s stock valued at $78,000 after purchasing an additional 11,856 shares during the period. Quarry LP lifted its holdings in shares of Rush Street Interactive by 15.9% in the second quarter. Quarry LP now owns 8,762 shares of the company’s stock worth $84,000 after buying an additional 1,200 shares in the last quarter. Aigen Investment Management LP purchased a new position in shares of Rush Street Interactive in the fourth quarter worth $90,000. Principal Financial Group Inc. bought a new position in shares of Rush Street Interactive during the second quarter worth $98,000. Finally, North Star Investment Management Corp. grew its stake in Rush Street Interactive by 303.9% during the first quarter. North Star Investment Management Corp. now owns 20,600 shares of the company’s stock valued at $134,000 after acquiring an additional 15,500 shares in the last quarter. 24.78% of the stock is currently 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.