Rush Street Interactive (NYSE:RSI) Shares Gap Up Following Analyst Upgrade

Rush Street Interactive, Inc. (NYSE:RSI)’s stock price gapped up prior to trading on Thursday after Craig Hallum raised their price target on the stock from $14.00 to $17.00. The stock had previously closed at $10.76, but opened at $11.45. Craig Hallum currently has a buy rating on the stock. Rush Street Interactive shares last traded at $10.57, with a volume of 691,446 shares traded.

Several other research analysts have also recently weighed in on RSI. Jefferies Financial Group boosted their target price on Rush Street Interactive from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday. Wells Fargo & Company boosted their price objective on Rush Street Interactive from $11.00 to $13.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Needham & Company LLC raised their target price on Rush Street Interactive from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Oppenheimer boosted their price target on shares of Rush Street Interactive from $10.00 to $14.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Rush Street Interactive has an average rating of “Moderate Buy” and an average price target of $12.43.

Insider Buying and Selling at Rush Street Interactive

In other news, insider Einar Roosileht sold 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $9.09, for a total value of $1,363,500.00. Following the transaction, the insider now directly owns 809,260 shares in the company, valued at approximately $7,356,173.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Kyle Sauers sold 108,682 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $9.50, for a total transaction of $1,032,479.00. Following the completion of the transaction, the chief financial officer now directly owns 441,492 shares in the company, valued at $4,194,174. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Einar Roosileht sold 150,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $9.09, for a total transaction of $1,363,500.00. Following the sale, the insider now owns 809,260 shares in the company, valued at $7,356,173.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 548,210 shares of company stock worth $5,179,362 over the last three months. Insiders own 56.89% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in RSI. Principal Financial Group Inc. lifted its holdings in Rush Street Interactive by 656.2% during the 3rd quarter. Principal Financial Group Inc. now owns 77,658 shares of the company’s stock worth $843,000 after buying an additional 67,388 shares in the last quarter. New York State Teachers Retirement System boosted its holdings in Rush Street Interactive by 17.2% in the third quarter. New York State Teachers Retirement System now owns 6,938 shares of the company’s stock valued at $75,000 after purchasing an additional 1,020 shares during the period. Precision Wealth Strategies LLC acquired a new position in Rush Street Interactive during the 3rd quarter worth $349,000. OmniStar Financial Group Inc. increased its holdings in Rush Street Interactive by 581.2% during the 3rd quarter. OmniStar Financial Group Inc. now owns 80,862 shares of the company’s stock worth $877,000 after purchasing an additional 68,992 shares during the period. Finally, nVerses Capital LLC acquired a new stake in Rush Street Interactive in the 3rd quarter valued at about $148,000. Hedge funds and other institutional investors own 24.78% of the company’s stock.

Rush Street Interactive Trading Up 0.8 %

The firm has a market cap of $2.46 billion, a PE ratio of -545.50 and a beta of 1.79. The firm has a 50 day moving average price of $10.29 and a 200-day moving average price of $9.32.

Rush Street Interactive (NYSE:RSI) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.06. Rush Street Interactive had a negative net margin of 0.16% and a negative return on equity of 3.82%. The company had revenue of $220.38 million during the quarter, compared to the consensus estimate of $201.37 million. During the same quarter in the previous year, the firm earned ($0.08) earnings per share. The firm’s quarterly revenue was up 33.5% on a year-over-year basis. Equities analysts forecast that Rush Street Interactive, Inc. will post -0.01 earnings per share for the current fiscal year.

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.