Brokerages Set Rush Street Interactive, Inc. (NYSE:RSI) PT at $15.63

Shares of Rush Street Interactive, Inc. (NYSE:RSI) have been assigned a consensus rating of “Moderate Buy” from the nine analysts that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $15.63.

A number of brokerages recently issued reports on RSI. Wall Street Zen lowered shares of Rush Street Interactive from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 1st. Needham & Company LLC restated a “buy” rating and issued a $17.00 target price on shares of Rush Street Interactive in a research note on Thursday, May 1st. Macquarie reaffirmed an “outperform” rating and set a $16.00 price target on shares of Rush Street Interactive in a research report on Friday, May 2nd. Wells Fargo & Company lifted their price target on Rush Street Interactive from $14.00 to $15.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Finally, Benchmark boosted their price objective on Rush Street Interactive from $12.00 to $14.00 and gave the company a “buy” rating in a report on Friday, February 28th.

Insider Transactions at Rush Street Interactive

In related news, insider Einar Roosileht sold 70,000 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $12.47, for a total transaction of $872,900.00. Following the sale, the insider now owns 876,150 shares in the company, valued at $10,925,590.50. This represents a 7.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Richard Todd Schwartz sold 109,567 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $9.85, for a total transaction of $1,079,234.95. Following the completion of the transaction, the chief executive officer now directly owns 2,082,376 shares in the company, valued at $20,511,403.60. This represents a 5.00% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 723,805 shares of company stock worth $8,032,309. 56.94% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RSI. Pacer Advisors Inc. lifted its stake in Rush Street Interactive by 94.7% in the first quarter. Pacer Advisors Inc. now owns 2,533 shares of the company’s stock valued at $27,000 after buying an additional 1,232 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Rush Street Interactive in the 4th quarter worth about $28,000. Summit Securities Group LLC bought a new stake in Rush Street Interactive in the 1st quarter valued at about $33,000. Heck Capital Advisors LLC acquired a new position in Rush Street Interactive during the 4th quarter valued at about $34,000. Finally, GAMMA Investing LLC boosted its stake in Rush Street Interactive by 1,687.6% during the 1st quarter. GAMMA Investing LLC now owns 6,507 shares of the company’s stock valued at $70,000 after purchasing an additional 6,143 shares during the period. Institutional investors and hedge funds own 24.78% of the company’s stock.

Rush Street Interactive Price Performance

Shares of RSI stock opened at $13.41 on Friday. Rush Street Interactive has a 12 month low of $8.52 and a 12 month high of $16.78. The firm has a market capitalization of $3.07 billion, a P/E ratio of -670.55 and a beta of 1.85. The company’s fifty day moving average price is $11.87 and its two-hundred day moving average price is $12.86.

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

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.