Rush Street Interactive (NYSE:RSI) Shares Gap Up to $6.15

Shares of Rush Street Interactive, Inc. (NYSE:RSI) gapped up before the market opened on Friday . The stock had previously closed at $6.15, but opened at $6.42. Rush Street Interactive shares last traded at $6.40, with a volume of 169,794 shares.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on RSI shares. Craig Hallum raised shares of Rush Street Interactive from a “hold” rating to a “buy” rating and boosted their target price for the stock from $7.00 to $8.00 in a research report on Friday. Susquehanna reiterated a “neutral” rating and set a $6.00 price target (up previously from $5.00) on shares of Rush Street Interactive in a research note on Monday, March 4th. Needham & Company LLC lifted their price target on shares of Rush Street Interactive from $6.00 to $8.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. JMP Securities reiterated a “market perform” rating on shares of Rush Street Interactive in a research note on Friday, March 8th. Finally, Wells Fargo & Company lifted their price target on shares of Rush Street Interactive from $7.00 to $8.00 and gave the stock an “overweight” rating in a research note on Thursday, March 7th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $7.50.

Rush Street Interactive Stock Performance

The company’s 50-day moving average is $6.13 and its 200-day moving average is $4.95. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of -22.78 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 (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.01. The business had revenue of $193.85 million for the quarter, compared to the consensus estimate of $181.50 million. Rush Street Interactive had a negative net margin of 2.65% and a negative return on equity of 28.95%. On average, analysts predict that Rush Street Interactive, Inc. will post -0.22 EPS for the current year.

Insiders Place Their Bets

In other Rush Street Interactive news, COO Mattias Stetz sold 13,657 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $5.83, for a total transaction of $79,620.31. Following the completion of the sale, the chief operating officer now directly owns 692,045 shares of the company’s stock, valued at approximately $4,034,622.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Rush Street Interactive news, COO Mattias Stetz sold 13,657 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $5.83, for a total transaction of $79,620.31. Following the completion of the sale, the chief operating officer now directly owns 692,045 shares of the company’s stock, valued at approximately $4,034,622.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard Todd Schwartz sold 38,687 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $5.83, for a total value of $225,545.21. Following the sale, the chief executive officer now directly owns 2,256,569 shares of the company’s stock, valued at $13,155,797.27. The disclosure for this sale can be found here. In the last three months, insiders sold 286,831 shares of company stock valued at $1,821,252. 56.96% of the stock is currently owned by insiders.

Institutional Trading of Rush Street Interactive

A number of institutional investors and hedge funds have recently modified their holdings of the stock. HG Vora Capital Management LLC increased its stake in shares of Rush Street Interactive by 16.7% in the 4th quarter. HG Vora Capital Management LLC now owns 7,000,000 shares of the company’s stock valued at $31,430,000 after acquiring an additional 1,000,000 shares during the last quarter. Canyon Capital Advisors LLC increased its stake in Rush Street Interactive by 66.5% during the 1st quarter. Canyon Capital Advisors LLC now owns 5,735,284 shares of the company’s stock worth $17,837,000 after purchasing an additional 2,289,730 shares in the last quarter. Vanguard Group Inc. increased its stake in Rush Street Interactive by 3.8% during the 4th quarter. Vanguard Group Inc. now owns 5,395,483 shares of the company’s stock worth $24,226,000 after purchasing an additional 195,985 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Rush Street Interactive by 8.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 4,731,177 shares of the company’s stock worth $22,095,000 after purchasing an additional 365,981 shares in the last quarter. Finally, Nomura Holdings Inc. increased its stake in Rush Street Interactive by 24.7% during the 4th quarter. Nomura Holdings Inc. now owns 4,184,373 shares of the company’s stock worth $18,788,000 after purchasing an additional 828,984 shares in the last quarter. 24.78% of the stock is owned by institutional investors.

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.