Vanguard Group Inc. Has $24.02 Million Stake in Rush Street Interactive, Inc. (NYSE:RSI)

Vanguard Group Inc. trimmed its position in shares of Rush Street Interactive, Inc. (NYSE:RSI) by 1.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,199,498 shares of the company’s stock after selling 63,847 shares during the quarter. Vanguard Group Inc. owned 2.34% of Rush Street Interactive worth $24,022,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. PEAK6 Investments LLC raised its position in Rush Street Interactive by 387.2% in the 3rd quarter. PEAK6 Investments LLC now owns 309,765 shares of the company’s stock valued at $1,431,000 after buying an additional 246,189 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Rush Street Interactive by 32.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,836,077 shares of the company’s stock valued at $8,483,000 after buying an additional 451,171 shares during the last quarter. Spire Wealth Management purchased a new stake in Rush Street Interactive in the 3rd quarter valued at $492,000. EAM Investors LLC purchased a new stake in Rush Street Interactive in the 3rd quarter valued at $997,000. Finally, Los Angeles Capital Management LLC purchased a new stake in Rush Street Interactive in the 3rd quarter valued at $611,000. 24.78% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Rush Street Interactive news, insider Paul Wierbicki sold 22,743 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $5.83, for a total value of $132,591.69. Following the completion of the transaction, the insider now owns 174,982 shares in the company, valued at approximately $1,020,145.06. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Rush Street Interactive news, insider Paul Wierbicki sold 22,743 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $5.83, for a total value of $132,591.69. Following the completion of the transaction, the insider now owns 174,982 shares in the company, valued at approximately $1,020,145.06. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Richard Todd Schwartz sold 38,687 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $5.83, for a total value of $225,545.21. Following the completion of the sale, the chief executive officer now directly owns 2,256,569 shares in the company, valued at approximately $13,155,797.27. The disclosure for this sale can be found here. Insiders sold a total of 286,831 shares of company stock worth $1,821,252 in the last quarter. 56.96% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Wells Fargo & Company increased their price target on Rush Street Interactive from $7.00 to $8.00 and gave the company an “overweight” rating in a research report on Thursday, March 7th. Needham & Company LLC upped their price objective on Rush Street Interactive from $6.00 to $8.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Oppenheimer upped their price objective on Rush Street Interactive from $7.00 to $9.00 and gave the company an “outperform” rating in a research note on Thursday, March 7th. Susquehanna restated a “neutral” rating and issued a $6.00 price objective (up previously from $5.00) on shares of Rush Street Interactive in a research note on Monday, March 4th. Finally, JMP Securities restated a “market perform” rating on shares of Rush Street Interactive in a research note on Friday, March 8th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $7.40.

Rush Street Interactive Stock Performance

RSI stock opened at $6.69 on Friday. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of -24.78 and a beta of 1.71. Rush Street Interactive, Inc. has a fifty-two week low of $2.85 and a fifty-two week high of $7.31. The stock has a fifty day moving average of $6.07 and a 200-day moving average of $4.91.

Rush Street Interactive (NYSE:RSI) last posted its quarterly earnings results on Wednesday, March 6th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.01. The company had revenue of $193.85 million during the quarter, compared to the consensus estimate of $181.50 million. Rush Street Interactive had a negative return on equity of 28.95% and a negative net margin of 2.65%. Equities analysts predict that Rush Street Interactive, Inc. will post -0.22 EPS for the current 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.