Rush Street Interactive (NYSE:RSI) Rating Increased to Strong-Buy at Wall Street Zen

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

A number of other research analysts also recently weighed in on RSI. JPMorgan Chase & Co. raised their price objective on Rush Street Interactive from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, October 16th. Oppenheimer reaffirmed an “outperform” rating and set a $24.00 price objective on shares of Rush Street Interactive in a report on Thursday, October 30th. Zacks Research raised Rush Street Interactive from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 28th. Susquehanna reiterated a “positive” rating and issued a $19.00 price objective (up previously from $15.00) on shares of Rush Street Interactive in a research report on Wednesday, July 30th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Rush Street Interactive in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Rush Street Interactive currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.75.

Rush Street Interactive Trading Up 4.0%

RSI stock traded up $0.67 during mid-day trading on Friday, hitting $17.22. 1,413,146 shares of the company were exchanged, compared to its average volume of 1,840,508. The company has a market capitalization of $3.93 billion, a PE ratio of 68.86 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 firm has a fifty day simple moving average of $19.78 and a 200 day simple moving average of $16.68.

Rush Street Interactive (NYSE:RSI) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.02. Rush Street Interactive had a net margin of 2.83% and a return on equity of 17.11%. The business had revenue of $277.91 million during the quarter, compared to the consensus estimate of $264.60 million. During the same quarter in the prior year, the company posted $0.05 earnings per share. The company’s quarterly revenue was up 19.7% compared to the same quarter last year. Rush Street Interactive has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Rush Street Interactive will post 0.04 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Mattias Stetz sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $17.09, for a total transaction of $512,700.00. Following the transaction, the chief operating officer directly owned 194,806 shares of the company’s stock, valued at approximately $3,329,234.54. This trade represents a 13.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kyle Sauers sold 15,038 shares of the company’s 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 of the company’s stock, valued at approximately $9,352,663.34. This represents a 3.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 732,848 shares of company stock worth $14,491,707. 56.94% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Alliancebernstein L.P. grew its holdings in shares of 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 stake in shares of Rush Street Interactive during the first quarter worth $29,005,000. Marshall Wace LLP increased its holdings in shares of Rush Street Interactive by 100.9% during the second quarter. Marshall Wace LLP now owns 2,372,671 shares of the company’s stock worth $35,353,000 after buying an additional 1,191,546 shares in the last quarter. 1060 Capital LLC acquired a new stake in shares of Rush Street Interactive during the 2nd quarter valued at $11,222,000. Finally, Topline Capital Management LLC grew its position in Rush Street Interactive by 30.7% during the 1st quarter. Topline Capital Management LLC now owns 2,366,875 shares of the company’s stock worth $25,373,000 after acquiring an additional 555,552 shares during the last quarter. Institutional investors own 24.78% of the company’s stock.

Rush Street Interactive Company Profile

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.