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

Rush Street Interactive, Inc. (NYSE:RSI) 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.

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:RSI) 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

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.