Rush Street Interactive (NYSE:RSI) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Rush Street Interactive (NYSE:RSI) from a hold rating to a buy rating in a research note published on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $16.00 target price on the stock.

According to Zacks, “Rush Street Interactive LP is an online casino and sports betting gaming companies principally in the United States. Rush Street Interactive LP, formerly known as dMY Technology Group Inc., is based in CHICAGO. “

A number of other brokerages have also recently weighed in on RSI. Craig Hallum dropped their price objective on Rush Street Interactive from $22.00 to $19.00 in a research note on Tuesday, January 4th. The Goldman Sachs Group lifted their target price 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. Wells Fargo & Company reduced their price target on shares of Rush Street Interactive from $21.00 to $16.00 and set an equal weight rating on the stock in a research report on Friday, January 7th. Needham & Company LLC upped their target price on shares of Rush Street Interactive from $20.00 to $23.00 and gave the stock a buy rating in a research note on Thursday, November 11th. Finally, Roth Capital began coverage on shares of Rush Street Interactive in a report on Tuesday, October 12th. They set a buy rating and a $24.00 target price on the stock. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Buy and a consensus target price of $21.91.

NYSE RSI opened at $11.72 on Wednesday. The stock has a market capitalization of $2.57 billion, a P/E ratio of -34.47 and a beta of 1.49. The firm’s 50-day moving average is $17.19 and its two-hundred day moving average is $15.68. Rush Street Interactive has a 12 month low of $9.47 and a 12 month high of $26.55.

Rush Street Interactive (NYSE:RSI) last released its quarterly earnings results on Wednesday, November 10th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.05. The business had revenue of $122.92 million for the quarter, compared to the consensus estimate of $117.30 million. Rush Street Interactive had a negative net margin of 2.11% and a negative return on equity of 11.85%. On average, equities research analysts anticipate that Rush Street Interactive will post -0.23 EPS for the current fiscal year.

In other Rush Street Interactive news, CFO Kyle Sauers sold 16,152 shares of the firm’s stock in a transaction on Wednesday, October 27th. The stock was sold at an average price of $20.72, for a total value of $334,669.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 76.06% of the company’s stock.

A number of institutional investors have recently made changes to their positions in RSI. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Rush Street Interactive during the 3rd quarter worth approximately $50,000. Ameritas Investment Partners Inc. purchased a new position in shares of Rush Street Interactive in the 2nd quarter valued at $50,000. Jacobi Capital Management LLC raised its stake in Rush Street Interactive by 183.3% during the 2nd quarter. Jacobi Capital Management LLC now owns 8,500 shares of the company’s stock worth $104,000 after acquiring an additional 5,500 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in Rush Street Interactive in the third quarter valued at $209,000. Finally, Penserra Capital Management LLC boosted its stake in Rush Street Interactive by 190.8% in the second quarter. Penserra Capital Management LLC now owns 10,929 shares of the company’s stock valued at $133,000 after acquiring an additional 7,171 shares in the last quarter. Institutional investors own 18.96% of the company’s stock.

About Rush Street Interactive

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