AdvisorNet Financial Inc raised its stake in shares of Rush Street Interactive, Inc. (NYSE:RSI – Get Rating) by 87.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,489 shares of the company's stock after buying an additional 12,380 shares during the period. AdvisorNet Financial Inc's holdings in Rush Street Interactive were worth $124,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Amalgamated Bank bought a new position in Rush Street Interactive during the first quarter valued at about $62,000. Exos Asset Management LLC grew its position in Rush Street Interactive by 17.7% during the first quarter. Exos Asset Management LLC now owns 9,989 shares of the company's stock worth $73,000 after buying an additional 1,500 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new stake in Rush Street Interactive during the fourth quarter worth about $81,000. Quantbot Technologies LP acquired a new stake in Rush Street Interactive during the first quarter worth about $94,000. Finally, Parametrica Management Ltd acquired a new stake in Rush Street Interactive during the first quarter worth about $103,000. 37.76% of the stock is currently owned by institutional investors.
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NYSE:RSI opened at $4.73 on Thursday. Rush Street Interactive, Inc. has a 1 year low of $4.06 and a 1 year high of $21.83. The firm has a 50 day moving average of $5.46 and a 200-day moving average of $6.06. The stock has a market capitalization of $1.04 billion, a P/E ratio of -7.51 and a beta of 1.95.
Rush Street Interactive (NYSE:RSI – Get Rating) last posted its earnings results on Thursday, August 4th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.03). Rush Street Interactive had a negative net margin of 7.28% and a negative return on equity of 18.28%. The firm had revenue of $143.74 million during the quarter, compared to the consensus estimate of $152.30 million. As a group, analysts forecast that Rush Street Interactive, Inc. will post -0.62 EPS for the current fiscal year.Insider Activity
In other news, major shareholder Gregory A. Carlin sold 13,959 shares of Rush Street Interactive stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $6.29, for a total value of $87,802.11. Following the completion of the transaction, the insider now owns 1,744,962 shares in the company, valued at $10,975,810.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder Gregory A. Carlin sold 48,679 shares of the business's stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $5.75, for a total value of $279,904.25. Following the completion of the transaction, the insider now owns 1,951,321 shares in the company, valued at approximately $11,220,095.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Gregory A. Carlin sold 13,959 shares of the business's stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $6.29, for a total transaction of $87,802.11. Following the completion of the transaction, the insider now owns 1,744,962 shares of the company's stock, valued at approximately $10,975,810.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 365,061 shares of company stock worth $2,183,266. Insiders own 58.02% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on RSI. Susquehanna Bancshares began coverage on Rush Street Interactive in a research report on Wednesday, July 20th. They set a "neutral" rating and a $6.00 target price on the stock. Craig Hallum decreased their target price on Rush Street Interactive to $9.00 in a research report on Tuesday, August 9th. JMP Securities began coverage on Rush Street Interactive in a research report on Tuesday, June 28th. They set an "outperform" rating and a $12.00 target price on the stock. Finally, Susquehanna began coverage on Rush Street Interactive in a report on Wednesday, July 20th. They set a "neutral" rating and a $6.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $12.80.
Rush Street Interactive Profile
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Rush Street Interactive, Inc operates as an online casino and sports betting company in the United States and 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.
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