Now Is A Good Time To Buy Rush Street Interactive Inc (NYSE: RSI)

During the last session, Rush Street Interactive Inc (NYSE:RSI)’s traded shares were 1.02 million, with the beta value of the company hitting 1.58. At the end of the trading day, the stock’s price was $6.85, reflecting an intraday gain of 1.78% or $0.12. The 52-week high for the RSI share is $7.31, that puts it down -6.72 from that peak though still a striking 59.56% gain since the share price plummeted to a 52-week low of $2.77. The company’s market capitalization is $524.30M, and the average intraday trading volume over the past 10 days was 1.89 million shares, and the average trade volume was 1.24 million shares over the past three months.

Rush Street Interactive Inc (NYSE:RSI) trade information

Rush Street Interactive Inc (RSI) registered a 1.78% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 1.78% in intraday trading to $6.85, hitting a weekly high. The stock’s 5-day price performance is 6.20%, and it has moved by 21.02% in 30 days. Based on these gigs, the overall price performance for the year is 120.26%. The short interest in Rush Street Interactive Inc (NYSE:RSI) is 2.19 million shares and it means that shorts have 1.7 day(s) to cover.

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Rush Street Interactive Inc (RSI) estimates and forecasts

Statistics show that Rush Street Interactive Inc has outperformed its competitors in share price, compared to the industry in which it operates. Rush Street Interactive Inc (RSI) shares have gone up 50.88% during the last six months, with a year-to-date growth rate more than the industry average at 42.86% against 10.60. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 75.00% this quarter and then jump 50.00% in the quarter after that. In the rating firms’ projections, revenue will increase 15.50% compared to the previous financial year.

Revenue for the current quarter is expected to be $196.88 million as predicted by 9 analyst(s). Meanwhile, a consensus of 9 analyst(s) estimates revenue growth to $190.2 million by the end of Jun 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $162.36 million and $157.63 million respectively. In this case, analysts expect current quarter sales to grow by 21.30% and then jump by 20.70% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 23.52%. While earnings are projected to return 116.67% in 2024.

RSI Dividends

Rush Street Interactive Inc is due to release its next quarterly earnings between May 01 and May 06. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Rush Street Interactive Inc (NYSE:RSI)’s Major holders

Rush Street Interactive Inc insiders own 8.21% of total outstanding shares while institutional holders control 72.27%, with the float percentage being 78.73%. HG Vora Capital Management, LLC is the largest shareholder of the company, while 149 institutions own stock in it. As of Jun 29, 2023, the company held over 6.0 million shares (or 8.68% of all shares), a total value of $18.72 million in shares.

The next largest institutional holding, with 5.74 million shares, is of Canyon Capital Advisors LLC’s that is approximately 8.30% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $17.89 million.

Also, the Mutual Funds coming in first place with the largest holdings of Rush Street Interactive Inc (RSI) shares are Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund. Data provided on Jun 29, 2023 indicates that Vanguard Total Stock Market Index Fund owns about 1.57 million shares. This amounts to just over 2.28 percent of the company’s overall shares, with a $4.91 million market value. The same data shows that the other fund manager holds slightly less at 1.56 million, or about 2.26% of the stock, which is worth about $4.88 million.