Rush Street Interactive, Inc. (NYSE:RSI) Receives Average Rating of “Moderate Buy” from Brokerages

Rush Street Interactive, Inc. (NYSE:RSI) has been assigned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $19.7778.

A number of research firms have commented on RSI. Oppenheimer upped their price objective on shares of Rush Street Interactive from $16.00 to $21.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. Wall Street Zen lowered shares of Rush Street Interactive from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 13th. JPMorgan Chase & Co. upped their price objective on shares of Rush Street Interactive from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, October 16th. Susquehanna reaffirmed a “positive” rating and set a $19.00 price objective (up from $15.00) on shares of Rush Street Interactive in a research note on Wednesday, July 30th. Finally, Benchmark upped their target price on Rush Street Interactive from $20.00 to $24.00 and gave the company a “buy” rating in a report on Monday, September 8th.

Insiders Place Their Bets

In other news, Director Masi Niccolo De sold 446,094 shares of the company’s stock in a transaction dated 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 owned 15,203 shares in the company, valued at $278,975.05. This represents a 96.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Einar Roosileht sold 70,000 shares of the company’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $18.95, for a total value of $1,326,500.00. Following the completion of the transaction, the insider owned 876,150 shares in the company, valued at $16,603,042.50. This represents a 7.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,477,847 shares of company stock worth $28,465,288 over the last quarter. Company insiders own 56.89% of the company’s stock.

Hedge Funds Weigh In On Rush Street Interactive

A number of hedge funds have recently added to or reduced their stakes in the company. Alliancebernstein L.P. increased its holdings in Rush Street Interactive by 1.3% in the second quarter. Alliancebernstein L.P. now owns 6,214,230 shares of the company’s stock worth $92,592,000 after buying an additional 80,471 shares during the last quarter. Nuveen LLC acquired a new position in Rush Street Interactive during the first quarter valued at approximately $29,005,000. William Blair Investment Management LLC grew its holdings in Rush Street Interactive by 4.8% during the second quarter. William Blair Investment Management LLC now owns 2,675,601 shares of the company’s stock valued at $39,866,000 after purchasing an additional 121,992 shares during the last quarter. Driehaus Capital Management LLC grew its holdings in Rush Street Interactive by 12.7% during the first quarter. Driehaus Capital Management LLC now owns 2,480,268 shares of the company’s stock valued at $26,588,000 after purchasing an additional 279,751 shares during the last quarter. Finally, Marshall Wace LLP grew its holdings in Rush Street Interactive by 100.9% during the second quarter. Marshall Wace LLP now owns 2,372,671 shares of the company’s stock valued at $35,353,000 after purchasing an additional 1,191,546 shares during the last quarter. Institutional investors and hedge funds own 24.78% of the company’s stock.

Rush Street Interactive Trading Down 0.1%

Shares of NYSE RSI opened at $19.20 on Tuesday. Rush Street Interactive has a twelve month low of $9.54 and a twelve month high of $22.65. The company has a market capitalization of $4.39 billion, a price-to-earnings ratio of 96.00 and a beta of 1.87. The firm has a 50-day moving average of $20.47 and a two-hundred day moving average of $16.33.

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, beating analysts’ consensus estimates of $0.08 by $0.03. Rush Street Interactive had a net margin of 2.48% and a return on equity of 16.53%. The company had revenue of $269.22 million during the quarter, compared to the consensus estimate of $248.98 million. During the same period in the prior year, the company earned $0.04 EPS. Rush Street Interactive’s revenue was up 22.2% on a year-over-year basis. Rush Street Interactive has set its FY 2025 guidance at EPS. As a group, research analysts predict that Rush Street Interactive will post 0.04 earnings per share for the current year.

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.