Rush Street Interactive (NYSE:RSI) Shares Gap Up to $6.15

Rush Street Interactive, Inc. (NYSE:RSI)’s share price gapped up before the market opened on Friday . The stock had previously closed at $6.15, but opened at $6.42. Rush Street Interactive shares last traded at $6.40, with a volume of 169,794 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Craig Hallum raised shares of Rush Street Interactive from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $7.00 to $8.00 in a research report on Friday. Oppenheimer boosted their price target on shares of Rush Street Interactive from $7.00 to $9.00 and gave the company an “outperform” rating in a research report on Thursday, March 7th. Susquehanna reissued a “neutral” rating and issued a $6.00 price target (up from $5.00) on shares of Rush Street Interactive in a research report on Monday, March 4th. Needham & Company LLC lifted their price objective on shares of Rush Street Interactive from $6.00 to $8.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Finally, Wells Fargo & Company lifted their price objective on shares of Rush Street Interactive from $7.00 to $8.00 and gave the company an “overweight” rating in a research note on Thursday, March 7th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $7.50.

Rush Street Interactive Price Performance

The business’s 50 day moving average price is $6.13 and its 200-day moving average price is $4.95. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of -22.78 and a beta of 1.71.

Rush Street Interactive (NYSE:RSI) last issued its quarterly earnings results on Wednesday, March 6th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. Rush Street Interactive had a negative net margin of 2.65% and a negative return on equity of 28.95%. The business had revenue of $193.85 million for the quarter, compared to analyst estimates of $181.50 million. As a group, analysts expect that Rush Street Interactive, Inc. will post -0.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Richard Todd Schwartz sold 101,951 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $6.78, for a total transaction of $691,227.78. Following the sale, the chief executive officer now owns 2,154,618 shares of the company’s stock, valued at $14,608,310.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Rush Street Interactive news, COO Mattias Stetz sold 88,431 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $6.42, for a total value of $567,727.02. Following the sale, the chief operating officer now owns 603,614 shares of the company’s stock, valued at $3,875,201.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard Todd Schwartz sold 101,951 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $6.78, for a total transaction of $691,227.78. Following the completion of the sale, the chief executive officer now directly owns 2,154,618 shares in the company, valued at approximately $14,608,310.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 286,831 shares of company stock valued at $1,821,252. Corporate insiders own 56.96% of the company’s stock.

Hedge Funds Weigh In On Rush Street Interactive

Institutional investors and hedge funds have recently modified their holdings of the company. PEAK6 Investments LLC lifted its stake in shares of Rush Street Interactive by 387.2% during the third quarter. PEAK6 Investments LLC now owns 309,765 shares of the company’s stock valued at $1,431,000 after buying an additional 246,189 shares during the period. Assenagon Asset Management S.A. increased its position in Rush Street Interactive by 32.6% during the third quarter. Assenagon Asset Management S.A. now owns 1,836,077 shares of the company’s stock worth $8,483,000 after purchasing an additional 451,171 shares during the last quarter. Exchange Traded Concepts LLC increased its position in Rush Street Interactive by 23.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 356,323 shares of the company’s stock worth $1,600,000 after purchasing an additional 68,255 shares during the last quarter. Spire Wealth Management acquired a new position in Rush Street Interactive during the third quarter worth approximately $492,000. Finally, EAM Investors LLC acquired a new position in Rush Street Interactive during the third quarter worth approximately $997,000. Hedge funds and other institutional investors own 24.78% of the company’s stock.

Rush Street Interactive Company Profile

Rush Street Interactive, Inc operates as an online casino and sports betting company in the United States, Canada, Mexico, and rest of 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.