Rush Street Interactive (NYSE:RSI) Shares Gap Up on Analyst Upgrade

Rush Street Interactive, Inc. (NYSE:RSI - Get Free Report)'s stock price gapped up before the market opened on Thursday after Craig Hallum raised their price target on the stock from $14.00 to $17.00. The stock had previously closed at $10.76, but opened at $11.45. Craig Hallum currently has a buy rating on the stock. Rush Street Interactive shares last traded at $10.57, with a volume of 691,446 shares changing hands.

Several other equities analysts have also recently weighed in on RSI. Wells Fargo & Company lifted their target price on Rush Street Interactive from $11.00 to $13.00 and gave the company an "overweight" rating in a research note on Thursday, August 1st. Jefferies Financial Group upped their price objective on shares of Rush Street Interactive from $15.00 to $16.00 and gave the company a "buy" rating in a research note on Thursday. Oppenheimer lifted their target price on shares of Rush Street Interactive from $10.00 to $14.00 and gave the company an "outperform" rating in a research note on Thursday, August 1st. Finally, Needham & Company LLC upped their price target on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock a "buy" rating in a research note on Thursday. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $12.43.

Insider Activity at Rush Street Interactive

In other Rush Street Interactive news, Director Judith Gold sold 150,000 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $9.50, for a total transaction of $1,425,000.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CFO Kyle Sauers sold 108,682 shares of the company's stock in a transaction on Monday, August 5th. The shares were sold at an average price of $9.50, for a total transaction of $1,032,479.00. Following the completion of the transaction, the chief financial officer now directly owns 441,492 shares in the company, valued at $4,194,174. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Judith Gold sold 150,000 shares of the business's stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $9.50, for a total transaction of $1,425,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 548,210 shares of company stock valued at $5,179,362. Insiders own 56.89% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. New York State Teachers Retirement System increased its holdings in Rush Street Interactive by 17.2% in the 3rd quarter. New York State Teachers Retirement System now owns 6,938 shares of the company's stock valued at $75,000 after buying an additional 1,020 shares during the period. Allspring Global Investments Holdings LLC raised its position in Rush Street Interactive by 13,627.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 11,943 shares of the company's stock worth $78,000 after purchasing an additional 11,856 shares in the last quarter. Quarry LP lifted its stake in Rush Street Interactive by 15.9% during the second quarter. Quarry LP now owns 8,762 shares of the company's stock worth $84,000 after purchasing an additional 1,200 shares during the period. Principal Financial Group Inc. acquired a new stake in Rush Street Interactive during the second quarter valued at approximately $98,000. Finally, CWM LLC grew its stake in shares of Rush Street Interactive by 425.6% in the 3rd quarter. CWM LLC now owns 9,209 shares of the company's stock valued at $100,000 after purchasing an additional 7,457 shares during the period. 24.78% of the stock is currently owned by institutional investors and hedge funds.

Rush Street Interactive Stock Performance

The company has a market capitalization of $2.44 billion, a P/E ratio of -114.89 and a beta of 1.79. The firm has a 50 day moving average price of $10.22 and a two-hundred day moving average price of $9.28.

Rush Street Interactive (NYSE:RSI - Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.06. Rush Street Interactive had a negative return on equity of 12.45% and a negative net margin of 0.84%. The firm had revenue of $220.38 million during the quarter, compared to analyst estimates of $201.37 million. During the same period in the prior year, the company posted ($0.08) earnings per share. The business's revenue for the quarter was up 33.5% compared to the same quarter last year. On average, equities analysts expect that Rush Street Interactive, Inc. will post -0.01 earnings per share for the current year.

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.