Rush Street Interactive (NYSE:RSI) Reaches New 52-Week High After Analyst Upgrade

Shares of Rush Street Interactive, Inc. (NYSE:RSI) hit a new 52-week high during mid-day trading on Thursday after Wells Fargo & Company raised their price target on the stock from $8.00 to $9.00. Wells Fargo & Company currently has an overweight rating on the stock. Rush Street Interactive traded as high as $8.38 and last traded at $7.55, with a volume of 1319071 shares trading hands. The stock had previously closed at $6.42.

Several other research analysts have also weighed in on RSI. Craig Hallum upgraded shares of Rush Street Interactive from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $7.00 to $8.00 in a research note on Friday, April 19th. JMP Securities restated a “market perform” rating on shares of Rush Street Interactive in a research note on Friday, March 8th. Oppenheimer upped their price target on shares of Rush Street Interactive from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Thursday. Needham & Company LLC upped their price target on shares of Rush Street Interactive from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Susquehanna reiterated a “neutral” rating and issued a $6.00 price target (up previously from $5.00) on shares of Rush Street Interactive in a research note on Monday, March 4th. Two research analysts have rated the stock with a hold rating and four have given a buy 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 $8.00.

Insider Buying and Selling at Rush Street Interactive

In other Rush Street Interactive news, CEO Richard Todd Schwartz sold 101,951 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $6.78, for a total value of $691,227.78. Following the completion of the sale, the chief executive officer now owns 2,154,618 shares of the company’s stock, valued at approximately $14,608,310.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Rush Street Interactive news, CEO Richard Todd Schwartz sold 101,951 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $6.78, for a total value of $691,227.78. Following the completion of the sale, the chief executive officer now owns 2,154,618 shares of the company’s stock, valued at approximately $14,608,310.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Mattias Stetz sold 5,001 shares of the business’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $6.11, for a total transaction of $30,556.11. Following the completion of the sale, the chief operating officer now directly owns 606,730 shares of the company’s stock, valued at approximately $3,707,120.30. The disclosure for this sale can be found here. Insiders sold 331,552 shares of company stock valued at $2,094,498 in the last quarter. Company insiders own 56.96% of the company’s stock.

Institutional Trading of Rush Street Interactive

Institutional investors and hedge funds have recently made changes to their positions in the company. PEAK6 Investments LLC lifted its holdings in shares of Rush Street Interactive by 387.2% during the 3rd quarter. PEAK6 Investments LLC now owns 309,765 shares of the company’s stock worth $1,431,000 after acquiring an additional 246,189 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Rush Street Interactive by 32.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,836,077 shares of the company’s stock worth $8,483,000 after acquiring an additional 451,171 shares during the period. Exchange Traded Concepts LLC lifted its holdings in shares of Rush Street Interactive by 23.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 356,323 shares of the company’s stock worth $1,600,000 after acquiring an additional 68,255 shares during the period. Spire Wealth Management bought a new stake in shares of Rush Street Interactive during the 3rd quarter worth approximately $492,000. Finally, SG Americas Securities LLC lifted its holdings in shares of Rush Street Interactive by 33.2% during the 4th quarter. SG Americas Securities LLC now owns 15,108 shares of the company’s stock worth $68,000 after acquiring an additional 3,764 shares during the period. Institutional investors own 24.78% of the company’s stock.

Rush Street Interactive Stock Performance

The stock’s fifty day moving average price is $6.17 and its two-hundred day moving average price is $5.07. The company has a market cap of $1.72 billion, a P/E ratio of -28.56 and a beta of 1.67.

Rush Street Interactive (NYSE:RSI) last issued its quarterly earnings data on Wednesday, March 6th. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.01. The business had revenue of $193.85 million during 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, equities research analysts forecast that Rush Street Interactive, Inc. will post -0.22 EPS 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.