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

Shares of Rush Street Interactive, Inc. (NYSE:RSI) have received a consensus rating of “Moderate Buy” from the eleven research firms that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $20.75.

Several brokerages have recently weighed in on RSI. Jefferies Financial Group upped their price objective on shares of Rush Street Interactive from $26.00 to $27.00 and gave the company a “buy” rating in a report on Thursday, October 30th. JPMorgan Chase & Co. boosted their target price on Rush Street Interactive from $16.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, October 16th. Zacks Research upgraded Rush Street Interactive from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 28th. Needham & Company LLC raised their price objective on Rush Street Interactive from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Finally, Wall Street Zen raised Rush Street Interactive from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th.

Rush Street Interactive Stock Up 2.3%

NYSE RSI opened at $17.49 on Friday. The company has a market capitalization of $4.01 billion, a price-to-earnings ratio of 69.94 and a beta of 1.86. Rush Street Interactive has a twelve month low of $9.54 and a twelve month high of $22.65. The stock has a fifty day simple moving average of $18.97 and a 200 day simple moving average of $17.02.

Rush Street Interactive (NYSE:RSI) last announced its earnings results on Wednesday, October 29th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.07 by $0.02. Rush Street Interactive had a return on equity of 17.11% and a net margin of 2.83%.The business had revenue of $277.91 million for the quarter, compared to analysts’ expectations of $264.60 million. During the same period in the prior year, the business posted $0.05 earnings per share. The firm’s revenue was up 19.7% on a year-over-year basis. Rush Street Interactive has set its FY 2025 guidance at EPS. Research analysts expect that Rush Street Interactive will post 0.04 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Richard Todd Schwartz sold 72,446 shares of Rush Street Interactive stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $17.41, for a total transaction of $1,261,284.86. Following the sale, the chief executive officer directly owned 380,242 shares in the company, valued at approximately $6,620,013.22. This trade represents a 16.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kyle Sauers sold 15,038 shares of Rush Street Interactive stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $22.34, for a total value of $335,948.92. Following the sale, the chief financial officer owned 418,651 shares in the company, valued at $9,352,663.34. The trade was a 3.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 826,753 shares of company stock worth $16,018,954. 56.94% of the stock is owned by insiders.

Hedge Funds Weigh In On Rush Street Interactive

Several institutional investors have recently bought and sold shares of RSI. Pacer Advisors Inc. raised its stake in shares of Rush Street Interactive by 94.7% in the first quarter. Pacer Advisors Inc. now owns 2,533 shares of the company’s stock valued at $27,000 after buying an additional 1,232 shares during the period. Summit Securities Group LLC purchased a new stake in shares of Rush Street Interactive during the 1st quarter valued at approximately $33,000. Concord Wealth Partners bought a new position in Rush Street Interactive in the 3rd quarter worth approximately $41,000. Farther Finance Advisors LLC purchased a new position in shares of Rush Street Interactive in the second quarter valued at $42,000. Finally, Osaic Holdings Inc. grew its holdings in Rush Street Interactive by 62.2% during the 2nd quarter. Osaic Holdings Inc. now owns 4,872 shares of the company’s stock valued at $73,000 after buying an additional 1,868 shares in the last quarter. Hedge funds and other institutional investors own 24.78% of the company’s stock.

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.