Rush Street Interactive (NYSE:RSI) Shares Gap Up After Analyst Upgrade

Rush Street Interactive, Inc. (NYSE:RSIGet Free Report) shares gapped up prior to trading on Thursday after Needham & Company LLC raised their price target on the stock from $14.00 to $15.00. The stock had previously closed at $10.76, but opened at $11.45. Needham & Company LLC currently has a buy rating on the stock. Rush Street Interactive shares last traded at $10.57, with a volume of 691,446 shares changing hands.

Several other equities analysts have also weighed in on RSI. Oppenheimer increased their price objective on shares of Rush Street Interactive from $10.00 to $14.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Craig Hallum lifted their price target on shares of Rush Street Interactive from $11.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Wells Fargo & Company raised their price target on shares of Rush Street Interactive from $11.00 to $13.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.33.

Get Our Latest Stock Report on RSI

Insider Transactions at Rush Street Interactive

In related news, insider Einar Roosileht sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $9.09, for a total value of $1,363,500.00. Following the completion of the transaction, the insider now directly owns 809,260 shares of the company’s stock, valued at approximately $7,356,173.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Paul Wierbicki sold 20,437 shares of Rush Street Interactive stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $9.53, for a total transaction of $194,764.61. Following the completion of the sale, the insider now directly owns 174,982 shares of the company’s stock, valued at approximately $1,667,578.46. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Einar Roosileht sold 150,000 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $9.09, for a total value of $1,363,500.00. Following the completion of the transaction, the insider now directly owns 809,260 shares in the company, valued at approximately $7,356,173.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 548,210 shares of company stock worth $5,179,362. 56.89% of the stock is owned by company insiders.

Hedge Funds Weigh In On Rush Street Interactive

A number of hedge funds and other institutional investors have recently modified their holdings of RSI. New York State Teachers Retirement System lifted its position in Rush Street Interactive by 17.2% in the 3rd quarter. New York State Teachers Retirement System now owns 6,938 shares of the company’s stock worth $75,000 after buying an additional 1,020 shares during the last quarter. Precision Wealth Strategies LLC bought a new position in shares of Rush Street Interactive during the third quarter valued at about $349,000. OmniStar Financial Group Inc. lifted its holdings in Rush Street Interactive by 581.2% in the 3rd quarter. OmniStar Financial Group Inc. now owns 80,862 shares of the company’s stock worth $877,000 after buying an additional 68,992 shares during the period. nVerses Capital LLC purchased a new stake in Rush Street Interactive in the third quarter worth about $148,000. Finally, Creative Planning purchased a new stake in Rush Street Interactive during the 3rd quarter valued at $180,000. 24.78% of the stock is currently owned by hedge funds and other institutional investors.

Rush Street Interactive Stock Performance

The stock has a 50-day simple moving average of $10.22 and a two-hundred day simple moving average of $9.28. The firm has a market cap of $2.33 billion, a PE ratio of -122.44 and a beta of 1.79.

Rush Street Interactive (NYSE:RSIGet Free Report) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.06. The firm had revenue of $220.38 million for the quarter, compared to analysts’ expectations of $201.37 million. Rush Street Interactive had a negative return on equity of 12.45% and a negative net margin of 0.84%. The company’s revenue was up 33.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.08) EPS. As a group, sell-side analysts anticipate that Rush Street Interactive, Inc. will post -0.01 EPS for the current fiscal year.

About Rush Street Interactive

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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.

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