Rush Street Interactive (NYSE:RSI) Upgraded to Strong-Buy at Wall Street Zen

Rush Street Interactive (NYSE:RSI) was upgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.

A number of other brokerages have also recently commented on RSI. Benchmark increased their price target on Rush Street Interactive from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Susquehanna lifted their price target on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock a “positive” rating in a report on Thursday, May 1st. Needham & Company LLC reiterated a “buy” rating and issued a $17.00 price objective on shares of Rush Street Interactive in a research note on Thursday, May 1st. Macquarie restated an “outperform” rating and set a $16.00 price target on shares of Rush Street Interactive in a research report on Friday, May 2nd. Finally, Wells Fargo & Company boosted their price target on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $15.63.

Rush Street Interactive Trading Up 0.6%

NYSE:RSI opened at $11.85 on Friday. Rush Street Interactive has a 1 year low of $8.52 and a 1 year high of $16.78. The stock has a market cap of $2.71 billion, a price-to-earnings ratio of -592.25 and a beta of 1.88. The stock has a 50-day moving average price of $11.55 and a two-hundred day moving average price of $12.78.

Rush Street Interactive (NYSE:RSI) last released its earnings results on Wednesday, April 30th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.01. The business had revenue of $262.41 million for the quarter, compared to analyst estimates of $258.90 million. Rush Street Interactive had a negative return on equity of 3.73% and a negative net margin of 0.16%. Rush Street Interactive’s revenue was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.03 earnings per share. Sell-side analysts forecast that Rush Street Interactive will post 0.04 earnings per share for the current year.

Insider Activity at Rush Street Interactive

In related news, insider Einar Roosileht sold 70,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $11.67, for a total transaction of $816,900.00. Following the completion of the sale, the insider now owns 946,150 shares of the company’s stock, valued at approximately $11,041,570.50. This represents a 6.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard Todd Schwartz sold 109,567 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $9.85, for a total value of $1,079,234.95. Following the transaction, the chief executive officer now owns 2,082,376 shares of the company’s stock, valued at approximately $20,511,403.60. This trade represents a 5.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 723,805 shares of company stock worth $7,957,809. Corporate insiders own 56.94% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RSI. Exchange Traded Concepts LLC grew its stake in shares of Rush Street Interactive by 0.4% in the 4th quarter. Exchange Traded Concepts LLC now owns 260,380 shares of the company’s stock valued at $3,572,000 after buying an additional 1,087 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Rush Street Interactive by 5.4% in the first quarter. Arizona State Retirement System now owns 24,145 shares of the company’s stock valued at $259,000 after buying an additional 1,232 shares in the last quarter. Pacer Advisors Inc. increased its position in Rush Street Interactive by 94.7% in the first quarter. Pacer Advisors Inc. now owns 2,533 shares of the company’s stock worth $27,000 after purchasing an additional 1,232 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Rush Street Interactive by 3.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,270 shares of the company’s stock worth $594,000 after purchasing an additional 1,632 shares during the period. Finally, R Squared Ltd acquired a new stake in Rush Street Interactive in the fourth quarter worth about $28,000. 24.78% of the stock is owned by institutional investors and hedge funds.

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.