Rush Street Interactive (NYSE:RSI) Upgraded at Zacks Research

Zacks Research upgraded shares of Rush Street Interactive (NYSE:RSI) from a hold rating to a strong-buy rating in a report published on Monday morning,Zacks.com reports.

A number of other brokerages have also weighed in on RSI. Wall Street Zen lowered Rush Street Interactive from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 16th. Jefferies Financial Group increased their target price on Rush Street Interactive from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, July 3rd. Needham & Company LLC increased their target price on Rush Street Interactive from $17.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, July 31st. Benchmark increased their target price on Rush Street Interactive from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, July 31st. Finally, Macquarie reaffirmed an “outperform” rating and issued a $16.00 target price on shares of Rush Street Interactive in a research report on Friday, May 2nd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $17.89.

Rush Street Interactive Stock Up 0.8%

Shares of Rush Street Interactive stock opened at $21.83 on Monday. Rush Street Interactive has a fifty-two week low of $8.76 and a fifty-two week high of $22.12. The firm has a market cap of $4.99 billion, a PE ratio of 109.13 and a beta of 1.90. The business’s fifty day moving average is $16.81 and its two-hundred day moving average is $13.78.

Rush Street Interactive (NYSE:RSI) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.03. Rush Street Interactive had a return on equity of 16.53% and a net margin of 2.48%.The company had revenue of $269.22 million for the quarter, compared to analyst estimates of $248.98 million. During the same quarter in the prior year, the company posted $0.04 EPS. The business’s revenue for the quarter was up 22.2% compared to the same quarter last year. Rush Street Interactive has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Rush Street Interactive will post 0.04 EPS for the current year.

Insider Transactions at Rush Street Interactive

In related news, CEO Richard Todd Schwartz sold 100,000 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $18.62, for a total value of $1,862,000.00. Following the completion of the sale, the chief executive officer directly owned 823,566 shares in the company, valued at approximately $15,334,798.92. This represents a 10.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul Wierbicki sold 35,000 shares of the stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $19.45, for a total value of $680,750.00. Following the completion of the sale, the insider owned 91,705 shares of the company’s stock, valued at approximately $1,783,662.25. This represents a 27.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,816,090 shares of company stock worth $44,026,948 in the last quarter. 56.94% of the stock is owned by corporate insiders.

Institutional Trading of Rush Street Interactive

Several large investors have recently added to or reduced their stakes in the stock. Man Group plc grew its stake in shares of Rush Street Interactive by 0.7% during the second quarter. Man Group plc now owns 89,535 shares of the company’s stock valued at $1,334,000 after acquiring an additional 654 shares in the last quarter. Cerity Partners LLC grew its stake in shares of Rush Street Interactive by 5.3% during the second quarter. Cerity Partners LLC now owns 23,067 shares of the company’s stock valued at $344,000 after acquiring an additional 1,167 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Rush Street Interactive by 5.4% during the first quarter. Arizona State Retirement System now owns 24,145 shares of the company’s stock valued at $259,000 after acquiring an additional 1,232 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of Rush Street Interactive by 94.7% during the first quarter. Pacer Advisors Inc. now owns 2,533 shares of the company’s stock valued at $27,000 after acquiring an additional 1,232 shares in the last quarter. Finally, Teacher Retirement System of Texas grew its stake in shares of Rush Street Interactive by 11.1% during the second quarter. Teacher Retirement System of Texas now owns 13,615 shares of the company’s stock valued at $203,000 after acquiring an additional 1,358 shares in the last quarter. 24.78% of the stock is currently 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.