Rush Street Interactive (NYSE:RSI) Upgraded to Buy at Craig Hallum

Rush Street Interactive (NYSE:RSI) was upgraded by Craig Hallum from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, FinViz reports. The brokerage presently has a $8.00 price target on the stock, up from their previous price target of $7.00. Craig Hallum’s target price would suggest a potential upside of 30.08% from the company’s previous close.

Several other research firms have also recently issued reports on RSI. Oppenheimer increased their target price on shares of Rush Street Interactive from $7.00 to $9.00 and gave the stock an “outperform” rating in a research note on Thursday, March 7th. JMP Securities reiterated a “market perform” rating on shares of Rush Street Interactive in a research note on Friday, March 8th. Needham & Company LLC increased their target price on shares of Rush Street Interactive from $6.00 to $8.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Susquehanna reiterated a “neutral” rating and issued a $6.00 target price (up from $5.00) on shares of Rush Street Interactive in a research note on Monday, March 4th. Finally, Wells Fargo & Company increased their target price on shares of Rush Street Interactive from $7.00 to $8.00 and gave the stock an “overweight” rating in a research note on Thursday, March 7th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $7.50.

Rush Street Interactive Trading Down 2.8 %

RSI opened at $6.15 on Friday. The company has a 50 day moving average of $6.13 and a 200 day moving average of $4.95. The company has a market cap of $1.37 billion, a PE ratio of -22.78 and a beta of 1.71. Rush Street Interactive has a 12 month low of $2.85 and a 12 month high of $7.31.

Rush Street Interactive (NYSE:RSI) last released its quarterly earnings data on Wednesday, March 6th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.01. The company had revenue of $193.85 million during the quarter, compared to the consensus estimate of $181.50 million. Rush Street Interactive had a negative net margin of 2.65% and a negative return on equity of 28.95%. Research analysts forecast that Rush Street Interactive will post -0.22 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Richard Todd Schwartz sold 101,951 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $6.78, for a total transaction of $691,227.78. Following the sale, the chief executive officer now owns 2,154,618 shares in the company, valued at approximately $14,608,310.04. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, COO Mattias Stetz sold 13,657 shares of Rush Street Interactive stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $5.83, for a total value of $79,620.31. Following the transaction, the chief operating officer now owns 692,045 shares in the company, valued at approximately $4,034,622.35. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Richard Todd Schwartz sold 101,951 shares of Rush Street Interactive stock in a transaction on Monday, April 1st. The stock was sold at an average price of $6.78, for a total transaction of $691,227.78. Following the completion of the transaction, the chief executive officer now owns 2,154,618 shares in the company, valued at approximately $14,608,310.04. The disclosure for this sale can be found here. In the last quarter, insiders have sold 286,831 shares of company stock worth $1,821,252. 56.96% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rush Street Interactive

A number of large investors have recently added to or reduced their stakes in the business. PEAK6 Investments LLC grew its holdings in Rush Street Interactive by 387.2% in the 3rd quarter. PEAK6 Investments LLC now owns 309,765 shares of the company’s stock worth $1,431,000 after acquiring an additional 246,189 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Rush Street Interactive by 32.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,836,077 shares of the company’s stock valued at $8,483,000 after purchasing an additional 451,171 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Rush Street Interactive by 23.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 356,323 shares of the company’s stock valued at $1,600,000 after purchasing an additional 68,255 shares in the last quarter. Spire Wealth Management bought a new stake in shares of Rush Street Interactive during the 3rd quarter valued at about $492,000. Finally, EAM Investors LLC bought a new stake in shares of Rush Street Interactive during the 3rd quarter valued at about $997,000. 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.