Rush Street Interactive (NYSE:RSI) Releases Quarterly Earnings Results, Hits Expectations

Rush Street Interactive (NYSE:RSI) announced its earnings results on Wednesday. The company reported $0.13 EPS for the quarter, hitting the consensus estimate of $0.13, Zacks reports. Rush Street Interactive had a net margin of 2.33% and a return on equity of 18.88%.

Rush Street Interactive Stock Down 2.6%

RSI stock traded down $0.40 during mid-day trading on Wednesday, reaching $15.01. 6,086,306 shares of the stock traded hands, compared to its average volume of 2,523,920. Rush Street Interactive has a 52 week low of $14.82 and a 52 week high of $34.53. The firm has a market capitalization of $3.48 billion, a PE ratio of 51.75 and a beta of 1.71. The business has a 50-day moving average of $22.22 and a two-hundred day moving average of $23.82.

Analysts Set New Price Targets

Several research analysts recently weighed in on RSI shares. Jefferies Financial Group reissued a “buy” rating and set a $39.00 price target on shares of Rush Street Interactive in a research report on Thursday, July 30th. Needham & Company LLC upped their price target on shares of Rush Street Interactive from $33.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Susquehanna reduced their price target on Rush Street Interactive from $37.00 to $27.00 and set a “positive” rating for the company in a report on Friday, October 9th. Citizens Jmp reaffirmed a “market outperform” rating and set a $34.00 price objective on shares of Rush Street Interactive in a research report on Tuesday, September 22nd. Finally, Weiss Ratings raised shares of Rush Street Interactive from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $31.33.

Insider Transactions at Rush Street Interactive

In other Rush Street Interactive news, Director Jack A. Markell purchased 1,500 shares of the company’s stock in a transaction that occurred on Friday, September 25th. The stock was purchased at an average price of $19.35 per share, with a total value of $29,025.00. Following the completion of the transaction, the director directly owned 18,883 shares of the company’s stock, valued at approximately $365,386.05. This trade represents a 8.63% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kyle Sauers sold 23,000 shares of the company’s stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $20.31, for a total transaction of $467,130.00. Following the completion of the sale, the chief financial officer directly owned 583,526 shares in the company, valued at approximately $11,851,413.06. The trade was a 3.79% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 603,998 shares of company stock valued at $14,814,268 in the last ninety days. 52.89% of the stock is owned by corporate insiders.

About Rush Street Interactive

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.