Rush Street Interactive (NYSE:RSI) Cut to “Hold” at Craig Hallum

Craig Hallum lowered shares of Rush Street Interactive (NYSE:RSI) from a buy rating to a hold rating in a research report released on Monday morning, MarketBeat.com reports. The brokerage currently has $15.00 target price on the stock.

A number of other research analysts also recently weighed in on the company. Wall Street Zen raised Rush Street Interactive from a “hold” rating to a “buy” rating in a research note on Saturday, October 31st. Benchmark upped their price objective on shares of Rush Street Interactive from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Needham & Company LLC reduced their target price on Rush Street Interactive from $36.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, October 29th. JPMorgan Chase & Co. decreased their price objective on Rush Street Interactive from $22.00 to $18.00 and set a “neutral” rating on the stock in a report on Thursday, October 29th. Finally, Citizens Jmp reduced their target price on shares of Rush Street Interactive from $34.00 to $24.00 and set a “market outperform” rating on the stock in a research note on Thursday, October 29th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.46.

Rush Street Interactive Stock Down 1.5%

Rush Street Interactive stock opened at $12.34 on Monday. The company’s fifty day simple moving average is $20.68 and its 200-day simple moving average is $23.63. Rush Street Interactive has a 12 month low of $11.39 and a 12 month high of $34.53. The stock has a market cap of $2.86 billion, a P/E ratio of 37.41 and a beta of 1.80.

Rush Street Interactive (NYSE:RSI) last posted its quarterly earnings results on Wednesday, October 28th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. The company had revenue of $385.85 million during the quarter, compared to the consensus estimate of $388.05 million. Rush Street Interactive had a return on equity of 24.46% and a net margin of 2.56%. The business’s quarterly revenue was up 38.8% on a year-over-year basis. During the same period last year, the business earned $0.09 EPS. On average, equities research analysts expect that Rush Street Interactive will post 0.49 earnings per share for the current fiscal year.

Insider Transactions at Rush Street Interactive

In other news, Director Jack Markell acquired 1,500 shares of the company’s stock in a transaction on Friday, September 25th. The stock was purchased at an average cost of $19.35 per share, with a total value of $29,025.00. Following the acquisition, the director owned 18,883 shares of the company’s stock, valued at $365,386.05. This trade represents a 8.63% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Richard Schwartz sold 111,110 shares of the stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $19.88, for a total transaction of $2,208,866.80. Following the completion of the transaction, the chief executive officer owned 421,258 shares in the company, valued at $8,374,609.04. This represents a 20.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 402,664 shares of company stock valued at $9,204,199. 52.89% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Rush Street Interactive

Institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in Rush Street Interactive during the 2nd quarter worth approximately $448,435,000. Arrowstreet Capital Limited Partnership boosted its holdings in Rush Street Interactive by 84.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,764,173 shares of the company’s stock worth $60,121,000 after purchasing an additional 1,267,622 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Rush Street Interactive by 15.9% during the first quarter. Renaissance Technologies LLC now owns 2,285,000 shares of the company’s stock worth $49,699,000 after purchasing an additional 312,700 shares during the last quarter. William Blair Investment Management LLC acquired a new position in Rush Street Interactive during the second quarter worth $48,647,000. Finally, Bank of America Corp DE bought a new position in Rush Street Interactive in the second quarter valued at $34,015,000. Institutional investors and hedge funds own 24.78% of the company’s stock.

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.