Rush Street Interactive (NYSE:RSI) Stock Rating Lowered by Wall Street Zen

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

Other equities analysts also recently issued reports about the company. JPMorgan Chase & Co. started coverage on Rush Street Interactive in a research note on Monday, June 23rd. They set a “neutral” rating and a $14.00 target price for the company. Zacks Research raised Rush Street Interactive from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 25th. Benchmark increased their target price on Rush Street Interactive from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday, September 8th. 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 note on Thursday, July 3rd. Finally, 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 note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $18.33.

Rush Street Interactive Stock Down 1.7%

RSI opened at $21.20 on Friday. The business has a 50 day moving average price of $18.49 and a two-hundred day moving average price of $14.32. The company has a market cap of $4.84 billion, a PE ratio of 106.00 and a beta of 1.90. Rush Street Interactive has a 52 week low of $9.54 and a 52 week high of $22.55.

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

Insider Buying and Selling

In related news, Director Judith Gold sold 100,000 shares of Rush Street Interactive stock in a transaction on Monday, August 4th. The stock was sold at an average price of $19.61, for a total transaction of $1,961,000.00. Following the completion of the transaction, the director directly owned 111,629 shares of the company’s stock, valued at approximately $2,189,044.69. The trade was a 47.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Masi Niccolo De sold 446,094 shares of Rush Street Interactive stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $18.35, for a total value of $8,185,824.90. Following the transaction, the director directly owned 15,203 shares of the company’s stock, valued at approximately $278,975.05. This represents a 96.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,650,067 shares of company stock valued at $44,110,755. 56.94% of the stock is owned by insiders.

Hedge Funds Weigh In On Rush Street Interactive

Hedge funds and other institutional investors have recently bought and sold shares of the company. Northern Trust Corp increased its position in Rush Street Interactive by 8.2% during the fourth quarter. Northern Trust Corp now owns 706,386 shares of the company’s stock worth $9,692,000 after buying an additional 53,682 shares in the last quarter. Bank of America Corp DE increased its position in Rush Street Interactive by 28.0% during the fourth quarter. Bank of America Corp DE now owns 563,769 shares of the company’s stock worth $7,735,000 after buying an additional 123,305 shares in the last quarter. Deutsche Bank AG increased its position in Rush Street Interactive by 233.6% during the fourth quarter. Deutsche Bank AG now owns 125,699 shares of the company’s stock worth $1,725,000 after buying an additional 88,017 shares in the last quarter. Lazard Asset Management LLC purchased a new position in Rush Street Interactive during the fourth quarter worth $95,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Rush Street Interactive by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,270 shares of the company’s stock worth $594,000 after buying an additional 1,632 shares in the last quarter. 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.