Rush Street Interactive (NYSE:RSI) Sets New 12-Month Low – Here’s Why

Rush Street Interactive, Inc. (NYSE:RSI) hit a new 52-week low on Tuesday. The company traded as low as $15.48 and last traded at $15.4870, with a volume of 1,182,938 shares traded. The stock had previously closed at $16.30.

Wall Street Analysts Forecast Growth

RSI has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted their target price on Rush Street Interactive from $35.00 to $36.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. Needham & Company LLC raised their price target on Rush Street Interactive from $33.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Stifel Nicolaus reduced their price objective on shares of Rush Street Interactive from $34.00 to $30.00 and set a “buy” rating for the company in a research report on Monday. Jefferies Financial Group reiterated a “buy” rating and issued a $39.00 price objective on shares of Rush Street Interactive in a report on Thursday, July 30th. Finally, Oppenheimer increased their price objective on shares of Rush Street Interactive from $30.00 to $36.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $31.33.

Rush Street Interactive Price Performance

The stock has a 50-day moving average of $22.42 and a 200-day moving average of $23.83. The firm has a market cap of $3.59 billion, a price-to-earnings ratio of 53.24 and a beta of 1.71.

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. The firm had revenue of $393.78 million during the quarter, compared to analysts’ expectations of $367.75 million. Rush Street Interactive had a return on equity of 18.88% and a net margin of 2.33%. The company’s quarterly revenue was up 46.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.11 EPS. On average, equities analysts expect that Rush Street Interactive, Inc. will post 0.49 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Kyle Sauers sold 23,000 shares of the business’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $26.56, for a total value of $610,880.00. Following the completion of the transaction, the chief financial officer owned 606,526 shares of the company’s stock, valued at $16,109,330.56. The trade was a 3.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Richard Schwartz sold 111,112 shares of the company’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $28.02, for a total transaction of $3,113,358.24. Following the sale, the chief executive officer directly owned 421,258 shares of the company’s stock, valued at $11,803,649.16. This represents a 20.87% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 603,998 shares of company stock worth $14,814,268. Company insiders own 52.89% of the company’s stock.

Institutional Trading of Rush Street Interactive

A number of institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Rush Street Interactive during the second quarter valued at approximately $448,435,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Rush Street Interactive by 84.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,764,173 shares of the company’s stock valued at $60,121,000 after purchasing an additional 1,267,622 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Rush Street Interactive by 15.9% in the 1st quarter. Renaissance Technologies LLC now owns 2,285,000 shares of the company’s stock valued at $49,699,000 after purchasing an additional 312,700 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Rush Street Interactive in the 2nd quarter valued at $48,647,000. Finally, Bank of America Corp DE bought a new position in shares of Rush Street Interactive in the 2nd quarter valued at $34,015,000. Institutional investors own 24.78% of the company’s stock.

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 primary consumer brands include BetRivers, PlaySugarHouse and RushBet, offering online casino games, sports wagering and related digital gaming products through websites and mobile applications.

The company serves customers in regulated markets across the United States and Latin America, with operations also extending to select international jurisdictions.