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

Shares of Rush Street Interactive, Inc. (NYSE:RSI) have received a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $11.17.

RSI has been the topic of a number of research reports. Needham & Company LLC increased 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. Craig Hallum increased their price objective on shares of Rush Street Interactive from $11.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Oppenheimer raised 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, Wells Fargo & Company raised their price target on shares of Rush Street Interactive from $11.00 to $13.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st.

Insider Buying and Selling at Rush Street Interactive

In other Rush Street Interactive news, CEO Richard Todd Schwartz sold 40,498 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 1,862,997 shares of the company’s stock, valued at approximately $18,965,309.46. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Rush Street Interactive news, CFO Kyle Sauers sold 108,682 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $9.50, for a total transaction of $1,032,479.00. Following the sale, the chief financial officer now directly owns 441,492 shares of the company’s stock, valued at $4,194,174. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 transaction of $412,269.64. Following the sale, the chief executive officer now directly owns 1,862,997 shares in the company, valued at $18,965,309.46. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 548,210 shares of company stock valued at $5,179,362. 56.89% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Driehaus Capital Management LLC purchased a new stake in shares of Rush Street Interactive during the second quarter valued at approximately $10,605,000. Assenagon Asset Management S.A. boosted its holdings in shares of Rush Street Interactive by 157.9% during the second quarter. Assenagon Asset Management S.A. now owns 1,425,016 shares of the company’s stock valued at $13,666,000 after acquiring an additional 872,367 shares during the period. Marshall Wace LLP boosted its holdings in shares of Rush Street Interactive by 185.5% during the second quarter. Marshall Wace LLP now owns 981,822 shares of the company’s stock valued at $9,416,000 after acquiring an additional 637,883 shares during the period. Millennium Management LLC raised its stake in shares of Rush Street Interactive by 378.4% during the second quarter. Millennium Management LLC now owns 620,552 shares of the company’s stock valued at $5,951,000 after purchasing an additional 490,831 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Rush Street Interactive by 47.3% during the second quarter. Renaissance Technologies LLC now owns 1,504,200 shares of the company’s stock valued at $14,425,000 after purchasing an additional 482,872 shares in the last quarter. Hedge funds and other institutional investors own 24.78% of the company’s stock.

Rush Street Interactive Stock Performance

Shares of RSI opened at $10.58 on Friday. The company has a 50 day moving average price of $10.13 and a 200-day moving average price of $9.17. Rush Street Interactive has a fifty-two week low of $3.17 and a fifty-two week high of $11.59. The stock has a market capitalization of $2.38 billion, a PE ratio of -62.24 and a beta of 1.79.

Rush Street Interactive (NYSE:RSI) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.06. The firm had revenue of $220.38 million during the quarter, compared to analyst estimates 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 quarter in the previous year, the business posted ($0.08) EPS. Equities research analysts forecast that Rush Street Interactive will post -0.01 EPS 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.