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

Rush Street Interactive (NYSE:RSI) was upgraded by stock analysts at Craig Hallum from a “hold” rating to a “buy” rating in a report released on Friday, FinViz reports. The firm currently has a $8.00 price target on the stock, up from their prior price target of $7.00. Craig Hallum’s price target suggests a potential upside of 30.08% from the stock’s current price.

Several other brokerages have also recently issued reports on RSI. JMP Securities reiterated a “market perform” rating on shares of Rush Street Interactive in a research report on Friday, March 8th. Susquehanna reiterated a “neutral” rating and set a $6.00 price target (up from $5.00) on shares of Rush Street Interactive in a research report on Monday, March 4th. Oppenheimer lifted their target price on Rush Street Interactive from $7.00 to $9.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. Wells Fargo & Company lifted their target price on Rush Street Interactive from $7.00 to $8.00 and gave the stock an “overweight” rating in a report on Thursday, March 7th. Finally, Needham & Company LLC lifted their target price on Rush Street Interactive from $6.00 to $8.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.50.

Rush Street Interactive Price Performance

RSI opened at $6.15 on Friday. Rush Street Interactive has a 12 month low of $2.85 and a 12 month high of $7.31. The stock has a market cap of $1.37 billion, a P/E ratio of -22.78 and a beta of 1.71. The stock’s 50 day moving average price is $6.13 and its 200 day moving average price is $4.95.

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, beating the consensus estimate of ($0.09) by $0.01. Rush Street Interactive had a negative return on equity of 28.95% and a negative net margin of 2.65%. The company had revenue of $193.85 million for the quarter, compared to analysts’ expectations of $181.50 million. Equities analysts anticipate that Rush Street Interactive will post -0.22 EPS for the current year.

Insider Transactions at Rush Street Interactive

In other news, COO Mattias Stetz sold 13,657 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $5.83, for a total value of $79,620.31. Following the completion of the sale, the chief operating officer now owns 692,045 shares of the company’s stock, valued at $4,034,622.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, COO Mattias Stetz sold 13,657 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $5.83, for a total value of $79,620.31. Following the completion of the sale, the chief operating officer now owns 692,045 shares of the company’s stock, valued at $4,034,622.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul Wierbicki sold 22,743 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $5.83, for a total value of $132,591.69. Following the completion of the sale, the insider now directly owns 174,982 shares of the company’s stock, valued at approximately $1,020,145.06. The disclosure for this sale can be found here. Insiders sold a total of 286,831 shares of company stock valued at $1,821,252 over the last quarter. Company insiders own 56.96% of the company’s stock.

Institutional Trading of Rush Street Interactive

Institutional investors have recently bought and sold shares of the company. Vident Investment Advisory LLC acquired a new stake in Rush Street Interactive during the fourth quarter valued at $39,000. Boothbay Fund Management LLC acquired a new stake in Rush Street Interactive during the second quarter valued at $41,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Rush Street Interactive in the second quarter worth about $46,000. UBS Group AG lifted its position in shares of Rush Street Interactive by 357.1% in the fourth quarter. UBS Group AG now owns 13,943 shares of the company’s stock worth $50,000 after buying an additional 10,893 shares during the last quarter. Finally, Verition Fund Management LLC acquired a new stake in shares of Rush Street Interactive in the second quarter worth about $51,000. Institutional investors and hedge funds 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.