Rush Street Interactive (NYSE:RSI) Receives “Market Outperform” Rating from Citizens Jmp

Rush Street Interactive (NYSE:RSI)‘s stock had its “market outperform” rating reaffirmed by analysts at Citizens Jmp in a note issued to investors on Tuesday, Benzinga reports. They currently have a $34.00 price target on the stock. Citizens Jmp’s price target would indicate a potential upside of 57.19% from the company’s current price.

RSI has been the topic of a number of other reports. Susquehanna raised their price objective on shares of Rush Street Interactive from $30.00 to $36.00 and gave the stock a “positive” rating in a report on Wednesday, July 29th. Wall Street Zen raised shares of Rush Street Interactive from a “hold” rating to a “buy” rating in a research report on Sunday, September 13th. New Street Research set a $35.00 price target on Rush Street Interactive in a report on Thursday, July 23rd. Benchmark boosted their target price on Rush Street Interactive from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Finally, Weiss Ratings upgraded shares of Rush Street Interactive from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, September 14th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $35.10.

Rush Street Interactive Stock Performance

Rush Street Interactive stock opened at $21.63 on Tuesday. Rush Street Interactive has a fifty-two week low of $15.51 and a fifty-two week high of $34.53. The stock has a fifty day moving average of $27.37 and a two-hundred day moving average of $26.32. The company has a market capitalization of $5.01 billion, a price-to-earnings ratio of 74.59 and a beta of 1.51.

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

Insider Buying and Selling at Rush Street Interactive

In other news, COO Mattias Stetz sold 20,000 shares of Rush Street Interactive stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $31.22, for a total value of $624,400.00. Following the transaction, the chief operating officer owned 197,874 shares of the company’s stock, valued at $6,177,626.28. The trade was a 9.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kyle Sauers sold 23,000 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $26.65, for a total value of $612,950.00. Following the completion of the transaction, the chief financial officer owned 629,526 shares of the company’s stock, valued at $16,776,867.90. This represents a 3.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 614,000 shares of company stock worth $17,394,492. Corporate insiders own 52.89% of the company’s stock.

Hedge Funds Weigh In On Rush Street Interactive

Institutional investors have recently added to or reduced their stakes in the business. Jefferies Financial Group Inc. purchased a new position in Rush Street Interactive in the 4th quarter worth approximately $2,053,000. GSA Capital Partners LLP bought a new stake in Rush Street Interactive in the second quarter worth about $1,996,000. Quantinno Capital Management LP purchased a new stake in shares of Rush Street Interactive in the 1st quarter worth $1,769,000. BlackRock Inc. acquired a new position in shares of Rush Street Interactive during the second quarter worth $448,435,000. Finally, OP Asset Management Ltd purchased a new stake in shares of Rush Street Interactive in the 1st quarter valued at $5,262,000. 24.78% of the stock is owned by institutional investors and hedge funds.

Rush Street Interactive Company Profile

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.