Rush Street Interactive (NYSE:RSI) Announces Quarterly Earnings Results

Rush Street Interactive (NYSE:RSI – Get Rating) released its quarterly earnings data on Wednesday. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.05), MarketWatch Earnings reports. Rush Street Interactive had a negative net margin of 6.68% and a negative return on equity of 15.96%. The company had revenue of $134.94 million during the quarter, compared to analyst estimates of $135.40 million. During the same quarter in the prior year, the company earned ($0.08) EPS. The business’s revenue was up 20.7% on a year-over-year basis.

Shares of RSI stock traded down $0.56 during trading hours on Friday, hitting $6.23. The company’s stock had a trading volume of 1,942,901 shares, compared to its average volume of 1,315,170. The business has a fifty day moving average of $7.58 and a 200-day moving average of $12.47. Rush Street Interactive has a twelve month low of $6.01 and a twelve month high of $21.83.

RSI has been the subject of a number of research reports. Zacks Investment Research cut shares of Rush Street Interactive from a “hold” rating to a “strong sell” rating in a report on Wednesday. Craig Hallum cut shares of Rush Street Interactive from a “buy” rating to a “hold” rating and set a $10.00 target price for the company. in a report on Thursday, March 3rd. Needham & Company LLC reduced their target price on shares of Rush Street Interactive from $17.00 to $12.00 and set a “buy” rating for the company in a report on Thursday, March 3rd. Oppenheimer cut their price target on shares of Rush Street Interactive from $14.00 to $11.00 in a report on Thursday, March 3rd. Finally, Benchmark cut their price target on shares of Rush Street Interactive from $27.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, March 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $15.11.

Several hedge funds have recently added to or reduced their stakes in RSI. Morgan Stanley grew its position in shares of Rush Street Interactive by 47.5% in the second quarter. Morgan Stanley now owns 201,448 shares of the company’s stock valued at $2,470,000 after purchasing an additional 64,900 shares during the last quarter. Invesco Ltd. acquired a new stake in Rush Street Interactive during the second quarter worth approximately $225,000. Wells Fargo & Company MN boosted its position in Rush Street Interactive by 6.7% during the second quarter. Wells Fargo & Company MN now owns 111,316 shares of the company’s stock worth $1,365,000 after acquiring an additional 6,957 shares during the last quarter. Royal Bank of Canada boosted its position in Rush Street Interactive by 133.7% during the third quarter. Royal Bank of Canada now owns 53,045 shares of the company’s stock worth $1,020,000 after acquiring an additional 30,351 shares during the last quarter. Finally, LPL Financial LLC acquired a new stake in Rush Street Interactive during the third quarter worth approximately $246,000. Institutional investors and hedge funds own 36.45% of the company’s stock.

Rush Street Interactive Company Profile (Get Rating)

Rush Street Interactive, Inc operates as an online casino and sports betting company in the United States and 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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