Rush Street Interactive (RSI) – Research Analysts’ Weekly Ratings Changes

A number of firms have modified their ratings and price targets on shares of Rush Street Interactive (NYSE: RSI) recently:

• 3/7/2023 – Rush Street Interactive had its price target lowered by analysts at Benchmark Co. from $9.00 to $6.00. They now have a “buy” rating on the stock.
• 3/2/2023 – Rush Street Interactive had its price target lowered by analysts at Wells Fargo & Company from $8.00 to $6.00. They now have an “overweight” rating on the stock.
• 3/2/2023 – Rush Street Interactive had its “market outperform” rating reaffirmed by analysts at JMP Securities. They now have a $8.00 price target on the stock.
• 3/2/2023 – Rush Street Interactive had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $6.00 price target on the stock.
• 3/2/2023 – Rush Street Interactive had its price target lowered by analysts at Jefferies Financial Group Inc. from $14.00 to $12.00.

Rush Street Interactive Price Performance

NYSE RSI opened at $3.31 on Wednesday. Rush Street Interactive, Inc. has a 1 year low of $2.89 and a 1 year high of $9.34. The company has a market capitalization of $731.74 million, a PE ratio of -5.43 and a beta of 1.77. The company has a fifty day moving average of $4.04 and a two-hundred day moving average of $4.01.

Rush Street Interactive (NYSE:RSI – Get Rating) last announced its earnings results on Wednesday, March 1st. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.01). Rush Street Interactive had a negative return on equity of 17.05% and a negative net margin of 6.52%. The business had revenue of $165.53 million for the quarter, compared to analyst estimates of $161.60 million. On average, research analysts expect that Rush Street Interactive, Inc. will post -0.31 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Gregory A. Carlin sold 50,000 shares of the stock in a transaction dated Friday, February 17th. The shares were sold at an average price of $4.31, for a total transaction of $215,500.00. Following the completion of the transaction, the insider now directly owns 1,354,402 shares of the company’s stock, valued at $5,837,472.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Rush Street Interactive news, major shareholder Gregory A. Carlin sold 100,000 shares of the stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $4.63, for a total value of $463,000.00. Following the completion of the transaction, the insider now directly owns 1,494,402 shares of the company’s stock, valued at $6,919,081.26. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Gregory A. Carlin sold 50,000 shares of the stock in a transaction dated Friday, February 17th. The shares were sold at an average price of $4.31, for a total transaction of $215,500.00. Following the completion of the transaction, the insider now directly owns 1,354,402 shares of the company’s stock, valued at $5,837,472.62. The disclosure for this sale can be found here. 58.02% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Canyon Capital Advisors LLC increased its stake in shares of Rush Street Interactive by 14.3% during the 2nd quarter. Canyon Capital Advisors LLC now owns 5,735,284 shares of the company’s stock worth $26,783,000 after purchasing an additional 715,577 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Rush Street Interactive by 6.3% during the 3rd quarter. Vanguard Group Inc. now owns 5,059,483 shares of the company’s stock worth $18,620,000 after purchasing an additional 299,209 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Rush Street Interactive by 8.4% during the second quarter. Goldman Sachs Group Inc. now owns 4,731,177 shares of the company’s stock worth $22,095,000 after acquiring an additional 365,981 shares during the last quarter. Nomura Holdings Inc. boosted its position in Rush Street Interactive by 25.4% during the third quarter. Nomura Holdings Inc. now owns 4,188,658 shares of the company’s stock worth $15,419,000 after acquiring an additional 848,848 shares during the last quarter. Finally, BlackRock Inc. boosted its position in Rush Street Interactive by 0.9% during the first quarter. BlackRock Inc. now owns 3,510,602 shares of the company’s stock worth $25,522,000 after acquiring an additional 30,403 shares during the last quarter. 35.79% of the stock is owned by hedge funds and other institutional investors.

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.