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Rush Street Interactive (NYSE:RSI) Shares Gap Up to $5.19

Defense World · Sep 17, 2022 05:21

Rush Street Interactive, Inc. (NYSE:RSI – Get Rating)'s share price gapped up before the market opened on Thursday . The stock had previously closed at $5.19, but opened at $5.34. Rush Street Interactive shares last traded at $5.39, with a volume of 1,531 shares.

Analyst Upgrades and Downgrades

RSI has been the topic of several recent analyst reports. JMP Securities initiated coverage on shares of Rush Street Interactive in a research report on Tuesday, June 28th. They set an "outperform" rating and a $12.00 target price on the stock. Susquehanna Bancshares began coverage on shares of Rush Street Interactive in a research note on Wednesday, July 20th. They set a "neutral" rating and a $6.00 price target for the company. Craig Hallum decreased their price target on shares of Rush Street Interactive to $9.00 in a research note on Tuesday, August 9th. Finally, Susquehanna began coverage on shares of Rush Street Interactive in a research note on Wednesday, July 20th. They set a "neutral" rating and a $6.00 price target for the company. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $12.80.

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Rush Street Interactive Stock Performance

The business's 50 day moving average is $5.48 and its two-hundred day moving average is $6.14. The firm has a market capitalization of $1.12 billion, a PE ratio of -8.10 and a beta of 1.95.

Rush Street Interactive (NYSE:RSI – Get Rating) last released its quarterly earnings results on Thursday, August 4th. The company reported ($0.13) EPS for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.03). The firm had revenue of $143.74 million for the quarter, compared to analysts' expectations of $152.30 million. Rush Street Interactive had a negative net margin of 7.28% and a negative return on equity of 18.28%. As a group, equities research analysts predict that Rush Street Interactive, Inc. will post -0.62 EPS for the current year.

Insider Activity

In other news, Director Daniel W. Yih purchased 60,000 shares of Rush Street Interactive stock in a transaction dated Wednesday, August 31st. The stock was purchased at an average cost of $5.06 per share, for a total transaction of $303,600.00. Following the transaction, the director now directly owns 82,759 shares of the company's stock, valued at $418,760.54. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Daniel W. Yih acquired 60,000 shares of the company's stock in a transaction dated Wednesday, August 31st. The stock was bought at an average cost of $5.06 per share, with a total value of $303,600.00. Following the acquisition, the director now owns 82,759 shares of the company's stock, valued at approximately $418,760.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Gregory A. Carlin sold 13,959 shares of Rush Street Interactive stock in a transaction on Monday, August 15th. The stock was sold at an average price of $6.29, for a total transaction of $87,802.11. Following the sale, the insider now directly owns 1,744,962 shares of the company's stock, valued at $10,975,810.98. The disclosure for this sale can be found here. Insiders sold 365,061 shares of company stock worth $2,183,266 in the last three months. Corporate insiders own 58.02% of the company's stock.

Institutional Trading of Rush Street Interactive

A number of hedge funds have recently made changes to their positions in the stock. Envestnet Asset Management Inc. lifted its stake in Rush Street Interactive by 72.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 17,634 shares of the company's stock worth $291,000 after purchasing an additional 7,389 shares during the last quarter. ProShare Advisors LLC bought a new stake in Rush Street Interactive in the fourth quarter worth $189,000. AlphaCrest Capital Management LLC bought a new stake in Rush Street Interactive in the fourth quarter worth $317,000. Teacher Retirement System of Texas bought a new stake in Rush Street Interactive in the fourth quarter worth $169,000. Finally, Rockefeller Capital Management L.P. bought a new stake in Rush Street Interactive in the fourth quarter worth $81,000. 37.76% of the stock is owned by institutional investors.

About Rush Street Interactive

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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.