Rush Street Interactive (NYSE:RSI) Now Covered by Barclays

Research analysts at Barclays started coverage on shares of Rush Street Interactive (NYSE:RSI) in a research note issued on Friday, Marketbeat reports. The firm set an “overweight” rating and a $24.00 price target on the stock. Barclays‘s price target indicates a potential upside of 51.31% from the company’s current price.

A number of other analysts also recently weighed in on the company. Citigroup reiterated a “market outperform” rating on shares of Rush Street Interactive in a research report on Tuesday, September 22nd. Citizens Jmp reiterated a “market outperform” rating and issued a $34.00 price objective on shares of Rush Street Interactive in a report on Tuesday, September 22nd. Susquehanna lowered their target price on Rush Street Interactive from $37.00 to $27.00 and set a “positive” rating for the company in a report on Friday, October 9th. JPMorgan Chase & Co. cut their target price on shares of Rush Street Interactive from $30.00 to $22.00 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, Benchmark boosted their target price on Rush Street Interactive from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $31.67.

Rush Street Interactive Price Performance

RSI stock traded down $0.50 during midday trading on Friday, hitting $15.86. The company’s stock had a trading volume of 2,482,183 shares, compared to its average volume of 2,931,139. The stock has a market capitalization of $3.68 billion, a P/E ratio of 54.70 and a beta of 1.71. The company’s fifty day moving average price is $22.63 and its 200 day moving average price is $25.95. Rush Street Interactive has a twelve month low of $15.51 and a twelve month high of $34.53.

Rush Street Interactive (NYSE:RSI) last issued its earnings results on Wednesday, July 29th. The company reported $0.15 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.15. Rush Street Interactive had a net margin of 2.33% and a return on equity of 18.88%. The company had revenue of $393.78 million for the quarter, compared to analysts’ expectations of $367.75 million. During the same period in the prior year, the firm earned $0.11 EPS. Rush Street Interactive’s quarterly revenue was up 46.3% compared to the same quarter last year. Equities analysts expect that Rush Street Interactive will post 0.49 EPS for the current fiscal year.

Insider Transactions at Rush Street Interactive

In related news, COO Mattias Stetz sold 20,000 shares of the business’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $25.68, for a total transaction of $513,600.00. Following the sale, the chief operating officer directly owned 157,874 shares in the company, valued at approximately $4,054,204.32. The trade was a 11.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kyle Sauers sold 23,000 shares of the stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $26.56, for a total transaction of $610,880.00. Following the completion of the sale, the chief financial officer directly owned 606,526 shares in the company, valued at approximately $16,109,330.56. The trade was a 3.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 603,998 shares of company stock worth $14,814,268 over the last quarter. Corporate insiders own 52.89% of the company’s stock.

Hedge Funds Weigh In On Rush Street Interactive

Several institutional investors have recently modified their holdings of the company. GSA Capital Partners LLP bought a new stake in shares of Rush Street Interactive in the 2nd quarter valued at about $1,996,000. Quantinno Capital Management LP purchased a new stake in Rush Street Interactive during the 1st quarter valued at $1,769,000. BlackRock Inc. bought a new stake in Rush Street Interactive in the 2nd quarter worth $448,435,000. Bank of America Corp DE bought a new stake in Rush Street Interactive in the 2nd quarter worth $34,015,000. Finally, Tidal Investments LLC purchased a new stake in Rush Street Interactive during the 2nd quarter valued at about $1,323,000. 24.78% of the stock is currently owned by institutional investors.

Rush Street Interactive Company Profile

Rush Street Interactive, Inc is an online gaming and sports betting company that operates regulated internet casino and sportsbook platforms. Its primary consumer brands include BetRivers, PlaySugarHouse and RushBet, offering online casino games, sports wagering and related digital gaming products through websites and mobile applications.

The company serves customers in regulated markets across the United States and Latin America, with operations also extending to select international jurisdictions.