Rush Street Interactive (NYSE:RSI) Shares Gap Up to $10.60

Rush Street Interactive, Inc. (NYSE:RSI)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $10.60, but opened at $10.91. Rush Street Interactive shares last traded at $10.75, with a volume of 173,494 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Wells Fargo & Company increased their target price on shares of Rush Street Interactive from $11.00 to $13.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Craig Hallum increased their price objective on Rush Street Interactive from $11.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Oppenheimer boosted their price target on shares of Rush Street Interactive from $10.00 to $14.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Finally, Needham & Company LLC raised their price objective on shares of Rush Street Interactive from $10.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $11.17.

Rush Street Interactive Price Performance

The company has a market cap of $2.42 billion, a price-to-earnings ratio of -62.35 and a beta of 1.78. The business has a 50 day simple moving average of $9.69 and a 200 day simple moving average of $8.51.

Rush Street Interactive (NYSE:RSI) last posted its quarterly earnings results 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 12.45% and a negative net margin of 0.84%. The company had revenue of $220.38 million for the quarter, compared to the consensus estimate of $201.37 million. During the same quarter in the prior year, the business posted ($0.08) EPS. The firm’s quarterly revenue was up 33.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Rush Street Interactive, Inc. will post -0.01 earnings per share for the current fiscal year.

Insider Transactions at Rush Street Interactive

In other Rush Street Interactive news, CEO Richard Todd Schwartz sold 78,593 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $9.56, for a total transaction of $751,349.08. Following the sale, the chief executive officer now directly owns 1,984,404 shares of the company’s stock, valued at $18,970,902.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Richard Todd Schwartz sold 78,593 shares of the business’s stock in a transaction that occurred 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 owns 1,984,404 shares in the company, valued at $18,970,902.24. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Paul Wierbicki sold 20,437 shares of Rush Street Interactive stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $9.53, for a total value of $194,764.61. Following the sale, the insider now directly owns 174,982 shares of the company’s stock, valued at $1,667,578.46. The disclosure for this sale can be found here. Insiders sold 548,210 shares of company stock valued at $5,179,362 in the last ninety days. 56.89% of the stock is currently owned by corporate insiders.

Institutional Trading of Rush Street Interactive

Hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 Asset Management L.P. increased its stake in Rush Street Interactive by 300.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 24,821 shares of the company’s stock worth $238,000 after acquiring an additional 18,621 shares during the period. Quarry LP increased its position 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 purchasing an additional 1,200 shares during the period. Capital Impact Advisors LLC increased its position in shares of Rush Street Interactive by 34.3% in the second quarter. Capital Impact Advisors LLC now owns 63,501 shares of the company’s stock worth $609,000 after purchasing an additional 16,221 shares during the period. Algert Global LLC raised its stake in Rush Street Interactive by 70.6% in the second quarter. Algert Global LLC now owns 234,573 shares of the company’s stock valued at $2,250,000 after purchasing an additional 97,047 shares in the last quarter. Finally, Driehaus Capital Management LLC bought a new stake in Rush Street Interactive during the second quarter worth about $10,605,000. Institutional investors and hedge funds own 24.78% of the company’s stock.

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.