Rush Street Interactive, Inc. (NYSE:RSI) Receives $11.17 Average Price Target from Brokerages

Rush Street Interactive, Inc. (NYSE:RSI) has been given a consensus recommendation of “Moderate Buy” by the six analysts that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $11.17.

Several analysts have commented on RSI shares. Oppenheimer raised their price objective on Rush Street Interactive from $10.00 to $14.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Needham & Company LLC lifted their price target on shares of Rush Street Interactive from $10.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Wells Fargo & Company boosted their price target on shares of Rush Street Interactive from $11.00 to $13.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Finally, Craig Hallum increased their price objective on shares of Rush Street Interactive from $11.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, August 1st.

Rush Street Interactive Price Performance

Shares of NYSE RSI opened at $9.44 on Friday. The firm’s 50 day simple moving average is $9.47 and its 200-day simple moving average is $7.57. Rush Street Interactive has a 12 month low of $3.17 and a 12 month high of $11.59. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of -55.53 and a beta of 1.79.

Rush Street Interactive (NYSE:RSI) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.06. Rush Street Interactive had a negative net margin of 0.84% and a negative return on equity of 12.65%. The company had revenue of $220.38 million during the quarter, compared to analysts’ expectations of $201.37 million. During the same quarter in the previous year, the company earned ($0.08) earnings per share. The firm’s revenue for the quarter was up 33.5% on a year-over-year basis. Analysts anticipate that Rush Street Interactive will post -0.05 earnings per share for the current fiscal year.

Insider Buying and Selling at Rush Street Interactive

In related news, CEO Richard Todd Schwartz sold 40,498 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $10.18, for a total transaction of $412,269.64. Following the completion of the sale, the chief executive officer now owns 1,862,997 shares of the company’s stock, valued at approximately $18,965,309.46. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Rush Street Interactive news, CEO Richard Todd Schwartz sold 40,498 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $10.18, for a total transaction of $412,269.64. Following the transaction, the chief executive officer now owns 1,862,997 shares of the company’s stock, valued at $18,965,309.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kyle Sauers sold 108,682 shares of Rush Street Interactive stock in a transaction on Monday, August 5th. The stock was sold at an average price of $9.50, for a total value of $1,032,479.00. Following the transaction, the chief financial officer now owns 441,492 shares in the company, valued at approximately $4,194,174. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 227,773 shares of company stock worth $2,196,098. Corporate insiders own 56.89% of the company’s stock.

Institutional Trading of Rush Street Interactive

Several hedge funds have recently made changes to their positions in the company. Nomura Holdings Inc. lifted its holdings in Rush Street Interactive by 24.7% in the fourth quarter. Nomura Holdings Inc. now owns 4,184,373 shares of the company’s stock valued at $18,788,000 after acquiring an additional 828,984 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Rush Street Interactive by 13,627.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 11,943 shares of the company’s stock valued at $78,000 after purchasing an additional 11,856 shares during the period. Bayesian Capital Management LP acquired a new position in shares of Rush Street Interactive in the 1st quarter valued at $403,000. SG Americas Securities LLC grew its holdings in shares of Rush Street Interactive by 33.2% during the 4th quarter. SG Americas Securities LLC now owns 15,108 shares of the company’s stock worth $68,000 after purchasing an additional 3,764 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Rush Street Interactive during the 1st quarter worth about $148,000. Hedge funds and other institutional investors own 24.78% of the company’s stock.

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.