Rush Street Interactive, Inc. (NYSE:RSI)’s stock price gapped down prior to trading on Monday after Needham & Company LLC lowered their price target on the stock from $23.00 to $17.00. The stock had previously closed at $9.33, but opened at $8.76. Rush Street Interactive shares last traded at $9.13, with a volume of 144,437 shares trading hands.
Other equities research analysts have also issued research reports about the company. The Goldman Sachs Group increased their price target on Rush Street Interactive from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday, December 15th. Roth Capital started coverage on Rush Street Interactive in a research report on Tuesday, October 12th. They set a “buy” rating and a $24.00 price target on the stock. Wells Fargo & Company lowered their target price on Rush Street Interactive from $21.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Friday, January 7th. Zacks Investment Research upgraded Rush Street Interactive from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Wednesday, January 12th. Finally, Craig Hallum reduced their price objective on Rush Street Interactive from $22.00 to $19.00 in a report on Tuesday, January 4th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Rush Street Interactive has an average rating of “Buy” and an average target price of $21.36.
In related news, CFO Kyle Sauers sold 16,152 shares of the stock in a transaction dated Wednesday, October 27th. The stock was sold at an average price of $20.72, for a total value of $334,669.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 76.06% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. raised its stake in Rush Street Interactive by 281.3% during the second quarter. BlackRock Inc. now owns 3,803,957 shares of the company’s stock valued at $46,637,000 after buying an additional 2,806,436 shares in the last quarter. Canyon Capital Advisors LLC raised its position in shares of Rush Street Interactive by 55.7% during the 3rd quarter. Canyon Capital Advisors LLC now owns 3,533,929 shares of the company’s stock worth $67,886,000 after purchasing an additional 1,264,684 shares during the period. Eagle Asset Management Inc. acquired a new stake in shares of Rush Street Interactive during the 3rd quarter worth approximately $53,748,000. Vanguard Group Inc. raised its position in shares of Rush Street Interactive by 45.1% during the 2nd quarter. Vanguard Group Inc. now owns 2,648,384 shares of the company’s stock worth $32,468,000 after purchasing an additional 822,730 shares during the period. Finally, William Blair Investment Management LLC grew its holdings in Rush Street Interactive by 1.6% in the 2nd quarter. William Blair Investment Management LLC now owns 2,048,452 shares of the company’s stock worth $25,114,000 after buying an additional 32,430 shares in the last quarter. Hedge funds and other institutional investors own 18.96% of the company’s stock.
The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of -27.44 and a beta of 1.50. The business has a fifty day moving average of $16.26.
Rush Street Interactive (NYSE:RSI) last issued its quarterly earnings data on Wednesday, November 10th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.05. The business had revenue of $122.92 million during the quarter, compared to analyst estimates of $117.30 million. Rush Street Interactive had a negative return on equity of 11.85% and a negative net margin of 2.11%. Equities research analysts anticipate that Rush Street Interactive, Inc. will post -0.23 EPS for the current year.