Rush Street Interactive, Inc. (NYSE:RSI) Stock Has Average Price Target of $34.20

Shares of Rush Street Interactive, Inc. (NYSE:RSI) have received an average recommendation of “Moderate Buy” from the fourteen research firms that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $34.20.

Several equities research analysts have recently weighed in on the company. Wall Street Zen raised Rush Street Interactive from a “hold” rating to a “buy” rating in a research note on Sunday, September 13th. Weiss Ratings cut Rush Street Interactive from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, September 28th. Citigroup reaffirmed a “market outperform” rating on shares of Rush Street Interactive in a research report on Tuesday, September 22nd. Jefferies Financial Group reaffirmed a “buy” rating and set a $39.00 target price on shares of Rush Street Interactive in a report on Thursday, July 30th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and set a $34.00 target price on shares of Rush Street Interactive in a report on Tuesday, September 22nd.

Insider Buying and Selling

In other Rush Street Interactive news, CEO Richard Schwartz sold 111,112 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $28.02, for a total transaction of $3,113,358.24. Following the completion of the sale, the chief executive officer directly owned 421,258 shares of the company’s stock, valued at approximately $11,803,649.16. This represents a 20.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Mattias Stetz sold 20,000 shares of the company’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $25.68, for a total transaction of $513,600.00. Following the sale, the chief operating officer directly owned 157,874 shares of the company’s stock, valued at $4,054,204.32. This represents a 11.24% 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. In the last quarter, insiders have sold 603,998 shares of company stock valued at $14,814,268. 52.89% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. First Citizens Bank & Trust Co. acquired a new stake in shares of Rush Street Interactive during the third quarter valued at approximately $212,000. CoreCap Advisors LLC lifted its position in shares of Rush Street Interactive by 629.6% in the 3rd quarter. CoreCap Advisors LLC now owns 13,132 shares of the company’s stock valued at $267,000 after acquiring an additional 11,332 shares in the last quarter. Tidal Investments LLC purchased a new stake in shares of Rush Street Interactive in the 2nd quarter valued at approximately $1,323,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Rush Street Interactive in the 2nd quarter valued at approximately $70,000. Finally, Allworth Financial LP boosted its stake in Rush Street Interactive by 38.1% in the 2nd quarter. Allworth Financial LP now owns 1,917 shares of the company’s stock worth $57,000 after purchasing an additional 529 shares during the period. 24.78% of the stock is owned by hedge funds and other institutional investors.

Rush Street Interactive Stock Performance

Shares of NYSE:RSI opened at $18.96 on Tuesday. The stock has a market capitalization of $4.39 billion, a price-to-earnings ratio of 65.37 and a beta of 1.71. Rush Street Interactive has a 1-year low of $15.51 and a 1-year high of $34.53. The company has a 50 day moving average price of $23.54 and a 200 day moving average price of $26.18.

Rush Street Interactive (NYSE:RSI) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.15 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.15. The firm had revenue of $393.78 million for the quarter, compared to analyst estimates of $367.75 million. Rush Street Interactive had a net margin of 2.33% and a return on equity of 18.88%. The firm’s quarterly revenue was up 46.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.11 earnings per share. On average, sell-side analysts expect that Rush Street Interactive will post 0.49 EPS for the current fiscal year.

Rush Street Interactive Company Profile

Rush Street Interactive, Inc is an online gaming and sports betting company that operates regulated internet casino and sportsbook platforms. Its consumer-facing brands include BetRivers and PlaySugarHouse, which offer online casino games, sports wagering, and related digital gaming services where permitted by local regulations.

The company serves customers in multiple regulated markets across the United States and Latin America. Its operations have included online sports betting and casino gaming in U.S.