Key Points
- Director Thomas Winter bought 10,000 RSI shares at an average price of $11.83, investing $118,300 and increasing his holdings by 48.79% to 30,497 shares.
- Rush Street Interactive reported quarterly EPS of $0.15, beating estimates by $0.02, while revenue rose 38.8% year over year to $385.85 million, slightly below expectations.
- Analysts maintain a “Moderate Buy” consensus with an average price target of $26.46, while institutional investors own 24.78% of the company.
Rush Street Interactive, Inc. (NYSE:RSI - Get Free Report) Director Thomas Winter acquired 10,000 shares of the business's stock in a transaction on Monday, November 2nd. The shares were purchased at an average price of $11.83 per share, with a total value of $118,300.00. Following the completion of the purchase, the director owned 30,497 shares in the company, valued at $360,779.51. This represents a 48.79% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.
Rush Street Interactive Price Performance
NYSE RSI opened at $11.41 on Tuesday. The company has a market cap of $2.65 billion, a PE ratio of 34.59 and a beta of 1.71. The stock's 50 day simple moving average is $21.23 and its 200-day simple moving average is $23.70. Rush Street Interactive, Inc. has a 1-year low of $11.39 and a 1-year high of $34.53.
Rush Street Interactive (NYSE:RSI - Get Free Report) last issued its quarterly earnings results on Wednesday, October 28th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.13 by $0.02. Rush Street Interactive had a return on equity of 25.26% and a net margin of 2.56%. The firm had revenue of $385.85 million for the quarter, compared to analyst estimates of $388.05 million. During the same period in the previous year, the company posted $0.09 earnings per share. The business's revenue was up 38.8% on a year-over-year basis. On average, equities research analysts anticipate that Rush Street Interactive, Inc. will post 0.49 EPS for the current fiscal year.
Hedge Funds Weigh In On Rush Street Interactive
Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in Rush Street Interactive during the second quarter worth $448,435,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Rush Street Interactive by 84.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,764,173 shares of the company's stock worth $60,121,000 after acquiring an additional 1,267,622 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Rush Street Interactive by 15.9% in the 1st quarter. Renaissance Technologies LLC now owns 2,285,000 shares of the company's stock worth $49,699,000 after acquiring an additional 312,700 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Rush Street Interactive in the 2nd quarter worth $48,647,000. Finally, Bank of America Corp DE purchased a new position in shares of Rush Street Interactive during the 2nd quarter worth $34,015,000. Hedge funds and other institutional investors own 24.78% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts have issued reports on RSI shares. New Street Research set a $35.00 target price on shares of Rush Street Interactive in a research note on Thursday, July 23rd. Weiss Ratings upgraded shares of Rush Street Interactive from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, October 21st. Citizens Jmp reduced their target price on shares of Rush Street Interactive from $34.00 to $24.00 and set a "market outperform" rating for the company in a research report on Thursday, October 29th. Jefferies Financial Group reissued a "buy" rating on shares of Rush Street Interactive in a research note on Thursday. Finally, Wells Fargo & Company lowered their price target on shares of Rush Street Interactive from $36.00 to $26.00 and set an "overweight" rating on the stock in a research report on Thursday, October 29th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Rush Street Interactive currently has an average rating of "Moderate Buy" and an average target price of $26.46.
Check Out Our Latest Stock Report on Rush Street Interactive
About Rush Street Interactive
(
Get Free Report)
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.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
