Rush Street Interactive (NYSE:RSI) Shares Gap Up Following Analyst Upgrade

Rush Street Interactive, Inc. (NYSE:RSI)’s stock price gapped up before the market opened on Thursday after Craig Hallum raised their price target on the stock from $14.00 to $17.00. The stock had previously closed at $10.76, but opened at $11.45. Craig Hallum currently has a buy rating on the stock. Rush Street Interactive shares last traded at $10.57, with a volume of 691,446 shares traded.

Other equities analysts have also recently issued research reports about the company. Needham & Company LLC boosted their target price on Rush Street Interactive from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday. Jefferies Financial Group boosted their price target on Rush Street Interactive from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday. Wells Fargo & Company raised their price objective on Rush Street Interactive from $11.00 to $13.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, Oppenheimer boosted their target price on Rush Street Interactive from $10.00 to $14.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $12.43.

Insiders Place Their Bets

In other news, CEO Richard Todd Schwartz sold 78,593 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $9.56, for a total transaction of $751,349.08. Following the completion of the sale, the chief executive officer now directly owns 1,984,404 shares in the company, valued at $18,970,902.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, Director Judith Gold sold 150,000 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $9.50, for a total transaction of $1,425,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard Todd Schwartz sold 78,593 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $9.56, for a total value of $751,349.08. Following the completion of the sale, the chief executive officer now owns 1,984,404 shares of the company’s stock, valued at approximately $18,970,902.24. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 548,210 shares of company stock valued at $5,179,362 in the last quarter. 56.89% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rush Street Interactive

Several hedge funds and other institutional investors have recently bought and sold shares of RSI. Allspring Global Investments Holdings LLC raised its stake in shares of Rush Street Interactive by 13,627.6% during the first 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. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Rush Street Interactive during the 1st quarter worth $148,000. Vanguard Group Inc. lifted its holdings in Rush Street Interactive by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 5,481,219 shares of the company’s stock worth $35,683,000 after buying an additional 85,736 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Rush Street Interactive in the 1st quarter valued at about $1,673,000. Finally, Bayesian Capital Management LP acquired a new stake in shares of Rush Street Interactive during the first quarter valued at about $403,000. 24.78% of the stock is owned by institutional investors and hedge funds.

Rush Street Interactive Stock Up 0.8 %

The firm has a 50 day moving average price of $10.29 and a two-hundred day moving average price of $9.32. The company has a market capitalization of $2.46 billion, a price-to-earnings ratio of -545.50 and a beta of 1.79.

Rush Street Interactive (NYSE:RSI) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.06. Rush Street Interactive had a negative return on equity of 3.82% and a negative net margin of 0.16%. The firm had revenue of $220.38 million during the quarter, compared to analyst estimates of $201.37 million. During the same quarter last year, the firm earned ($0.08) EPS. Rush Street Interactive’s quarterly revenue was up 33.5% on a year-over-year basis. Analysts predict that Rush Street Interactive, Inc. will post -0.01 earnings per share for the current year.

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.