Rush Street Interactive (NYSE:RSI) Sees Strong Trading Volume

Rush Street Interactive, Inc. (NYSE:RSI) shares saw an uptick in trading volume on Thursday . 4,535,764 shares were traded during trading, an increase of 188% from the previous session’s volume of 1,577,282 shares.The stock last traded at $9.98 and had previously closed at $9.55.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Oppenheimer raised their price objective on shares of Rush Street Interactive from $10.00 to $14.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Craig Hallum increased their price target on shares of Rush Street Interactive from $11.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Wells Fargo & Company lifted their price objective on Rush Street Interactive from $11.00 to $13.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, Needham & Company LLC upped their price target on shares of Rush Street Interactive from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $11.17.

Rush Street Interactive Trading Up 4.7 %

The business’s fifty day moving average is $9.47 and its 200 day moving average is $8.20. The firm has a market capitalization of $2.25 billion, a P/E ratio of -56.59 and a beta of 1.78.

Rush Street Interactive (NYSE:RSI) last released its earnings results on Wednesday, July 31st. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.06. Rush Street Interactive had a negative return on equity of 12.45% and a negative net margin of 0.84%. The company had revenue of $220.38 million for the quarter, compared to analysts’ expectations of $201.37 million. During the same quarter in the previous year, the business posted ($0.08) EPS. The business’s revenue for the quarter was up 33.5% on a year-over-year basis. As a group, sell-side analysts predict that Rush Street Interactive, Inc. will post -0.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Judith Gold sold 150,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $9.50, for a total transaction of $1,425,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CFO Kyle Sauers sold 108,682 shares of Rush Street Interactive stock in a transaction on Monday, August 5th. The stock was sold at an average price of $9.50, for a total value of $1,032,479.00. Following the completion of the sale, the chief financial officer now directly owns 441,492 shares of the company’s stock, valued at approximately $4,194,174. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Judith Gold sold 150,000 shares of Rush Street Interactive stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $9.50, for a total value of $1,425,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 548,210 shares of company stock valued at $5,179,362. Company insiders own 56.89% of the company’s stock.

Institutional Investors Weigh In On Rush Street Interactive

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Rush Street Interactive by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 5,481,219 shares of the company’s stock worth $35,683,000 after purchasing an additional 85,736 shares in the last quarter. Nomura Holdings Inc. increased its position in shares of Rush Street Interactive by 24.7% in the fourth quarter. Nomura Holdings Inc. now owns 4,184,373 shares of the company’s stock worth $18,788,000 after purchasing an additional 828,984 shares during the period. Renaissance Technologies LLC raised its position in shares of Rush Street Interactive by 47.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,504,200 shares of the company’s stock valued at $14,425,000 after buying an additional 482,872 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Rush Street Interactive by 157.9% during the second quarter. Assenagon Asset Management S.A. now owns 1,425,016 shares of the company’s stock valued at $13,666,000 after purchasing an additional 872,367 shares in the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of Rush Street Interactive by 10.9% during the 2nd quarter. Federated Hermes Inc. now owns 1,329,825 shares of the company’s stock worth $12,753,000 after buying an additional 130,217 shares in the last quarter. Institutional investors own 24.78% of the company’s stock.

About Rush Street Interactive

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.