1832 Asset Management L.P. Increases Stock Holdings in Rush Street Interactive, Inc. $RSI

1832 Asset Management L.P. lifted its position in Rush Street Interactive, Inc. (NYSE:RSI) by 11.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 410,400 shares of the company’s stock after acquiring an additional 42,000 shares during the quarter. 1832 Asset Management L.P.’s holdings in Rush Street Interactive were worth $6,115,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Summit Securities Group LLC purchased a new position in Rush Street Interactive during the first quarter worth about $33,000. Farther Finance Advisors LLC bought a new position in shares of Rush Street Interactive during the 2nd quarter worth approximately $42,000. AlphaQuest LLC lifted its position in shares of Rush Street Interactive by 431.3% during the 2nd quarter. AlphaQuest LLC now owns 7,395 shares of the company’s stock worth $110,000 after buying an additional 6,003 shares in the last quarter. Ameritas Investment Partners Inc. boosted its stake in shares of Rush Street Interactive by 21.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,063 shares of the company’s stock worth $135,000 after buying an additional 1,615 shares during the last quarter. Finally, Prudential Financial Inc. bought a new position in shares of Rush Street Interactive in the second quarter valued at approximately $166,000. Hedge funds and other institutional investors own 24.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on RSI. Wall Street Zen cut Rush Street Interactive from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Rush Street Interactive in a research note on Wednesday, October 8th. Benchmark boosted their target price on shares of Rush Street Interactive from $20.00 to $24.00 and gave the company a “buy” rating in a report on Monday, September 8th. JPMorgan Chase & Co. increased their price target on shares of Rush Street Interactive from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, October 16th. Finally, Oppenheimer reissued an “outperform” rating and set a $24.00 price objective on shares of Rush Street Interactive in a research note on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.75.

Insider Buying and Selling at Rush Street Interactive

In related news, COO Mattias Stetz sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $18.51, for a total transaction of $555,300.00. Following the completion of the transaction, the chief operating officer owned 164,806 shares in the company, valued at $3,050,559.06. This represents a 15.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Einar Roosileht sold 70,000 shares of Rush Street Interactive stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $19.96, for a total transaction of $1,397,200.00. Following the sale, the insider directly owned 876,150 shares in the company, valued at $17,487,954. The trade was a 7.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 756,753 shares of company stock valued at $14,427,854 in the last 90 days. Insiders own 56.94% of the company’s stock.

Rush Street Interactive Stock Down 1.6%

NYSE RSI opened at $18.36 on Friday. The company has a 50-day simple moving average of $18.29 and a two-hundred day simple moving average of $17.45. Rush Street Interactive, Inc. has a 12-month low of $9.54 and a 12-month high of $22.65. The firm has a market cap of $4.21 billion, a price-to-earnings ratio of 73.42 and a beta of 1.65.

Rush Street Interactive (NYSE:RSI) last issued its earnings results on Wednesday, October 29th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.02. Rush Street Interactive had a return on equity of 17.11% and a net margin of 2.83%.The company had revenue of $277.91 million during the quarter, compared to analysts’ expectations of $264.60 million. During the same period in the prior year, the business posted $0.05 EPS. Rush Street Interactive’s quarterly revenue was up 19.7% compared to the same quarter last year. Equities analysts expect that Rush Street Interactive, Inc. will post 0.04 earnings per share for the current fiscal year.

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.