Rush Street Interactive (NYSE:RSI) Trading Down 5.1% – Here’s What Happened

Shares of Rush Street Interactive, Inc. (NYSE:RSI) dropped 5.1% during trading on Monday . The stock traded as low as $22.28 and last traded at $22.1150. 572,951 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 2,332,907 shares. The stock had previously closed at $23.30.

Key Headlines Impacting Rush Street Interactive

Here are the key news stories impacting Rush Street Interactive this week:

• Positive Sentiment: Stifel initiated coverage with a Buy rating and a $34 price target, implying substantial upside from recent levels. The firm highlighted RSI’s focus on online casino, a market it views as offering “scarcity value” because relatively few publicly traded companies provide direct exposure to U.S. iGaming. Stifel Initiates Rush Street Interactive at Buy With $34 Price Target Stifel: Rush Street Interactive Stock Offers iGaming Scarcity Value
• Positive Sentiment: Citizens JMP reaffirmed its Market Outperform rating and set a $34 target, also indicating roughly 60% potential upside. The repeated bullish targets strengthen the analyst-support narrative around RSI. Stifel Initiates Coverage of Rush Street Interactive With Buy
• Neutral Sentiment: The news is concentrated on analyst coverage rather than a new earnings report, guidance update, or operating announcement. RSI’s strong revenue growth and profitable results remain supportive, but the stock trades at a high earnings multiple and below its 50-day and 200-day moving averages, which may be limiting near-term enthusiasm.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RSI. Wells Fargo & Company boosted their price target on shares of Rush Street Interactive from $35.00 to $36.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Weiss Ratings raised Rush Street Interactive from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, September 14th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $34.00 price objective on shares of Rush Street Interactive in a report on Tuesday. Susquehanna increased their target price on Rush Street Interactive from $30.00 to $36.00 and gave the stock a “positive” rating in a research note on Wednesday, July 29th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $39.00 price target on shares of Rush Street Interactive in a report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $35.10.

Rush Street Interactive Stock Performance

The stock’s fifty day moving average price is $27.12 and its 200-day moving average price is $26.32. The firm has a market cap of $4.92 billion, a PE ratio of 73.14 and a beta of 1.51.

Rush Street Interactive (NYSE:RSI) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.15 EPS for the quarter, hitting 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 firm had revenue of $393.78 million for the quarter, compared to the consensus estimate of $367.75 million. During the same quarter in the previous year, the firm earned $0.11 earnings per share. The firm’s revenue was up 46.3% on a year-over-year basis. Sell-side analysts forecast that Rush Street Interactive, Inc. will post 0.49 earnings per share for the current fiscal year.

Insider Transactions at Rush Street Interactive

In related news, COO Mattias Stetz sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $25.68, for a total value of $513,600.00. Following the sale, the chief operating officer owned 157,874 shares in the company, valued at $4,054,204.32. This represents a 11.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Richard Schwartz sold 111,110 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $25.69, for a total value of $2,854,415.90. Following the completion of the transaction, the chief executive officer directly owned 421,258 shares of the company’s stock, valued at $10,822,118.02. The trade was 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. Insiders have sold 614,000 shares of company stock valued at $17,394,492 in the last quarter. 52.89% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RSI. New York State Teachers Retirement System increased its position in Rush Street Interactive by 5.2% during the 1st quarter. New York State Teachers Retirement System now owns 8,441 shares of the company’s stock worth $184,000 after purchasing an additional 419 shares in the last quarter. Allworth Financial LP raised its holdings in Rush Street Interactive by 38.1% in the second quarter. Allworth Financial LP now owns 1,917 shares of the company’s stock valued at $57,000 after buying an additional 529 shares during the period. Global Retirement Partners LLC acquired a new position in Rush Street Interactive during the second quarter valued at approximately $35,000. ProShare Advisors LLC grew its stake in Rush Street Interactive by 10.3% during the fourth quarter. ProShare Advisors LLC now owns 16,740 shares of the company’s stock worth $325,000 after buying an additional 1,561 shares during the period. Finally, CoreCap Advisors LLC purchased a new stake in Rush Street Interactive during the second quarter worth approximately $54,000. Hedge funds and other institutional investors own 24.78% of the company’s stock.

About Rush Street Interactive

Rush Street Interactive, Inc (NYSE: RSI) is an online gaming and sports betting company that operates digital casino, sportsbook and related gaming platforms. Its consumer-facing brands include BetRivers and PlaySugarHouse, which offer mobile and online wagering products such as sports betting, internet casino games and, in certain markets, online poker.

The company operates primarily in regulated markets across the United States and Canada, as well as select Latin American jurisdictions.