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

Craig Hallum upgraded shares of Rush Street Interactive (NYSE:RSI) from a hold rating to a buy rating in a report issued on Friday, Marketbeat reports. The brokerage currently has $8.00 price target on the stock, up from their previous price target of $7.00.

Other analysts also recently issued research reports about the stock. Susquehanna reaffirmed a neutral rating and set a $6.00 price target (up previously from $5.00) on shares of Rush Street Interactive in a report on Monday, March 4th. Oppenheimer increased their price objective on shares of Rush Street Interactive from $7.00 to $9.00 and gave the company an outperform rating in a research note on Thursday, March 7th. Wells Fargo & Company increased their price objective on shares of Rush Street Interactive from $7.00 to $8.00 and gave the company an overweight rating in a research note on Thursday, March 7th. Needham & Company LLC increased their price objective on shares of Rush Street Interactive from $6.00 to $8.00 and gave the company a buy rating in a research note on Thursday, March 7th. Finally, JMP Securities reissued a market perform rating on shares of Rush Street Interactive in a research note on Friday, March 8th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $7.50.

Rush Street Interactive Trading Up 2.3 %

Shares of Rush Street Interactive stock opened at $6.12 on Friday. The company has a 50 day moving average of $6.13 and a 200-day moving average of $4.99. Rush Street Interactive has a 1-year low of $2.85 and a 1-year high of $7.31. The company has a market cap of $1.36 billion, a PE ratio of -22.65 and a beta of 1.71.

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

Insider Activity

In other news, CEO Richard Todd Schwartz sold 23,737 shares of the firm’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $6.11, for a total transaction of $145,033.07. Following the completion of the transaction, the chief executive officer now owns 2,062,997 shares of the company’s stock, valued at $12,604,911.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Richard Todd Schwartz sold 23,737 shares of the firm’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $6.11, for a total transaction of $145,033.07. Following the completion of the transaction, the chief executive officer now owns 2,062,997 shares of the company’s stock, valued at $12,604,911.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kyle Sauers sold 21,362 shares of the firm’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $5.83, for a total transaction of $124,540.46. Following the transaction, the chief financial officer now directly owns 536,936 shares of the company’s stock, valued at approximately $3,130,336.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 331,552 shares of company stock valued at $2,094,498. Insiders own 56.96% of the company’s stock.

Hedge Funds Weigh In On Rush Street Interactive

Large investors have recently modified their holdings of the business. SG Americas Securities LLC acquired a new stake in shares of Rush Street Interactive during the third quarter worth $52,000. Allspring Global Investments Holdings LLC increased its position in shares of Rush Street Interactive by 13,627.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 11,943 shares of the company’s stock worth $78,000 after buying an additional 11,856 shares during the period. Aigen Investment Management LP acquired a new stake in shares of Rush Street Interactive during the fourth quarter worth $90,000. Tower Research Capital LLC TRC increased its position in shares of Rush Street Interactive by 665.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 21,923 shares of the company’s stock worth $98,000 after buying an additional 19,058 shares during the period. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Rush Street Interactive during the third quarter worth $107,000. Institutional investors own 24.78% of the company’s stock.

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.