New York State Common Retirement Fund Acquires 362,755 Shares of Rush Street Interactive, Inc. (NYSE:RSI)

New York State Common Retirement Fund lifted its holdings in shares of Rush Street Interactive, Inc. (NYSE:RSI) by 204.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 540,382 shares of the company’s stock after buying an additional 362,755 shares during the period. New York State Common Retirement Fund owned about 0.24% of Rush Street Interactive worth $5,793,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of RSI. Vanguard Group Inc. boosted its position in Rush Street Interactive by 14.0% during the fourth quarter. Vanguard Group Inc. now owns 8,596,434 shares of the company’s stock valued at $117,943,000 after purchasing an additional 1,056,583 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Rush Street Interactive by 62.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,663,246 shares of the company’s stock worth $36,540,000 after purchasing an additional 1,018,889 shares in the last quarter. Driehaus Capital Management LLC boosted its holdings in shares of Rush Street Interactive by 56.6% in the 4th quarter. Driehaus Capital Management LLC now owns 2,200,517 shares of the company’s stock valued at $30,191,000 after buying an additional 795,719 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Rush Street Interactive by 7,958.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,029,239 shares of the company’s stock valued at $27,843,000 after buying an additional 2,004,059 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Rush Street Interactive by 43.9% during the fourth quarter. Renaissance Technologies LLC now owns 1,962,400 shares of the company’s stock worth $26,924,000 after buying an additional 598,300 shares during the last quarter. Institutional investors own 24.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Susquehanna increased their price target on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company a “positive” rating in a research note on Thursday, May 1st. Wall Street Zen upgraded shares of Rush Street Interactive from a “buy” rating to a “strong-buy” rating in a research note on Friday. Benchmark boosted their price target on Rush Street Interactive from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, July 1st. Jefferies Financial Group raised their price objective on Rush Street Interactive from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, July 3rd. Finally, Macquarie reiterated an “outperform” rating and set a $16.00 target price on shares of Rush Street Interactive in a research note on Friday, May 2nd. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Rush Street Interactive presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.89.

Rush Street Interactive Trading Down 1.2%

Rush Street Interactive stock opened at $14.55 on Monday. The company has a market capitalization of $3.33 billion, a price-to-earnings ratio of 181.90 and a beta of 1.87. Rush Street Interactive, Inc. has a 12 month low of $8.52 and a 12 month high of $16.78. The stock’s 50 day moving average is $13.61 and its 200-day moving average is $13.00.

Rush Street Interactive (NYSE:RSI) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. The firm had revenue of $262.41 million for the quarter, compared to analyst estimates of $258.90 million. Rush Street Interactive had a return on equity of 7.35% and a net margin of 0.87%. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.03 EPS. As a group, equities research analysts predict that Rush Street Interactive, Inc. will post 0.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Rush Street Interactive

In other news, insider Einar Roosileht sold 70,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $14.77, for a total transaction of $1,033,900.00. Following the transaction, the insider directly owned 876,150 shares of the company’s stock, valued at approximately $12,940,735.50. This trade represents a 7.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard Todd Schwartz sold 193,905 shares of the business’s stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $15.39, for a total value of $2,984,197.95. Following the completion of the sale, the chief executive officer owned 1,017,471 shares of the company’s stock, valued at approximately $15,658,878.69. This trade represents a 16.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,147,520 shares of company stock worth $30,097,728 over the last quarter. Company insiders own 56.89% 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.