Shares of Rush Street Interactive, Inc. (NYSE:RSI – Get Rating) gapped down before the market opened on Thursday after Needham & Company LLC lowered their price target on the stock from $10.00 to $6.00. The stock had previously closed at $4.20, but opened at $3.75. Needham & Company LLC currently has a buy rating on the stock. Rush Street Interactive shares last traded at $3.77, with a volume of 15,337 shares.
Other research analysts have also issued research reports about the company. Susquehanna Bancshares started coverage on Rush Street Interactive in a report on Wednesday, July 20th. They set a “neutral” rating and a $6.00 price objective on the stock. Craig Hallum dropped their price objective on Rush Street Interactive to $9.00 in a report on Tuesday, August 9th. Finally, Susquehanna started coverage on Rush Street Interactive in a report on Wednesday, July 20th. They set a “neutral” rating and a $6.00 price objective on the stock. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $10.89.
Insider Buying and Selling at Rush Street Interactive
In other Rush Street Interactive news, CFO Kyle Sauers sold 15,530 shares of the company’s stock in a transaction on Tuesday, October 25th. The stock was sold at an average price of $4.08, for a total value of $63,362.40. Following the sale, the chief financial officer now owns 313,098 shares of the company’s stock, valued at $1,277,439.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Daniel W. Yih acquired 60,000 shares of Rush Street Interactive stock in a transaction dated Wednesday, August 31st. The shares were acquired at an average cost of $5.06 per share, for a total transaction of $303,600.00. Following the completion of the transaction, the director now directly owns 82,759 shares of the company’s stock, valued at $418,760.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kyle Sauers sold 15,530 shares of the company’s stock in a transaction on Tuesday, October 25th. The shares were sold at an average price of $4.08, for a total value of $63,362.40. Following the completion of the sale, the chief financial officer now owns 313,098 shares in the company, valued at $1,277,439.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 181,889 shares of company stock valued at $1,087,165. Insiders own 58.02% of the company’s stock.
Institutional Trading of Rush Street Interactive
Several institutional investors and hedge funds have recently made changes to their positions in RSI. North Star Investment Management Corp. lifted its position in shares of Rush Street Interactive by 88.2% in the second quarter. North Star Investment Management Corp. now owns 9,600 shares of the company’s stock valued at $45,000 after acquiring an additional 4,500 shares in the last quarter. Verition Fund Management LLC purchased a new stake in shares of Rush Street Interactive in the second quarter valued at $51,000. Fox Run Management L.L.C. purchased a new position in Rush Street Interactive during the second quarter worth about $52,000. Keybank National Association OH purchased a new position in Rush Street Interactive during the second quarter worth about $55,000. Finally, Amalgamated Bank purchased a new position in Rush Street Interactive during the first quarter worth about $62,000. 37.76% of the stock is currently owned by hedge funds and other institutional investors.
Rush Street Interactive Price Performance
The company has a 50-day moving average of $4.40 and a two-hundred day moving average of $5.22. The stock has a market capitalization of $859.68 million, a PE ratio of -5.98 and a beta of 1.99.
Rush Street Interactive (NYSE:RSI – Get Rating) last released its earnings results on Thursday, August 4th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.03). Rush Street Interactive had a negative return on equity of 18.28% and a negative net margin of 7.28%. The business had revenue of $143.74 million for the quarter, compared to analysts’ expectations of $152.30 million. On average, research analysts forecast that Rush Street Interactive, Inc. will post -0.62 EPS for the current fiscal year.
About Rush Street Interactive
Rush Street Interactive, Inc operates as an online casino and sports betting company in the United States and 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.
