Rush Street Interactive (NYSE:RSI) Cut to “Buy” at Wall Street Zen

Wall Street Zen cut shares of Rush Street Interactive (NYSE:RSI) from a strong-buy rating to a buy rating in a report published on Sunday.

RSI has been the topic of several other research reports. Benchmark lifted their price target on shares of Rush Street Interactive from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Wells Fargo & Company lifted their target price on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Macquarie restated an “outperform” rating and set a $16.00 target price on shares of Rush Street Interactive in a research note on Friday, May 2nd. Needham & Company LLC restated a “buy” rating and set a $17.00 target price on shares of Rush Street Interactive in a research note on Thursday, May 1st. Finally, Susquehanna lifted their target price on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company a “positive” rating in a research note on Thursday, May 1st. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Rush Street Interactive has an average rating of “Moderate Buy” and a consensus price target of $15.63.

Rush Street Interactive Stock Up 0.3%

Shares of RSI opened at $12.59 on Friday. The company has a market capitalization of $2.88 billion, a P/E ratio of -629.60 and a beta of 1.88. The firm has a 50 day moving average of $11.74 and a 200 day moving average of $12.84. Rush Street Interactive has a twelve month low of $8.52 and a twelve month high of $16.78.

Rush Street Interactive (NYSE:RSI) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.01. Rush Street Interactive had a negative net margin of 0.16% and a negative return on equity of 3.73%. The company had revenue of $262.41 million during the quarter, compared to the consensus estimate of $258.90 million. During the same quarter last year, the firm earned $0.03 earnings per share. The firm’s quarterly revenue was up 20.7% compared to the same quarter last year. On average, sell-side analysts expect that Rush Street Interactive will post 0.04 EPS for the current year.

Insider Transactions at Rush Street Interactive

In other news, insider Einar Roosileht sold 70,000 shares of the business’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $11.53, for a total value of $807,100.00. Following the sale, the insider now directly owns 876,150 shares in the company, valued at $10,102,009.50. The trade was a 7.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Richard Todd Schwartz sold 106,952 shares of the business’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $11.86, for a total transaction of $1,268,450.72. Following the completion of the sale, the chief executive officer now owns 1,492,234 shares in the company, valued at approximately $17,697,895.24. This trade represents a 6.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 628,805 shares of company stock worth $6,847,659 in the last three months. Insiders own 56.94% of the company’s stock.

Institutional Trading of Rush Street Interactive

Large investors have recently made changes to their positions in the business. Alliancebernstein L.P. grew its holdings in Rush Street Interactive by 1,617.7% during the 1st quarter. Alliancebernstein L.P. now owns 6,133,759 shares of the company’s stock valued at $65,754,000 after purchasing an additional 5,776,660 shares during the last quarter. Nuveen LLC bought a new position in Rush Street Interactive during the 1st quarter valued at about $29,005,000. Price T Rowe Associates Inc. MD grew its holdings in Rush Street Interactive by 7,958.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,029,239 shares of the company’s stock valued at $27,843,000 after purchasing an additional 2,004,059 shares during the last quarter. Topline Capital Management LLC bought a new position in Rush Street Interactive during the 4th quarter valued at about $24,851,000. Finally, William Blair Investment Management LLC bought a new position in Rush Street Interactive during the 4th quarter valued at about $21,635,000. 24.78% of the stock is currently owned by institutional investors.

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.