1832 Asset Management L.P. Acquires 42,000 Shares of Rush Street Interactive, Inc. $RSI

1832 Asset Management L.P. raised its holdings in shares of Rush Street Interactive, Inc. (NYSE:RSI) by 11.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 410,400 shares of the company’s stock after purchasing an additional 42,000 shares during the quarter. 1832 Asset Management L.P. owned approximately 0.18% of Rush Street Interactive worth $6,115,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Summit Securities Group LLC bought a new position in shares of Rush Street Interactive in the first quarter valued at about $33,000. Farther Finance Advisors LLC acquired a new position in Rush Street Interactive in the 2nd quarter valued at about $42,000. AlphaQuest LLC grew its stake in Rush Street Interactive by 431.3% in the 2nd quarter. AlphaQuest LLC now owns 7,395 shares of the company’s stock valued at $110,000 after buying an additional 6,003 shares during the last quarter. Ameritas Investment Partners Inc. raised its holdings in Rush Street Interactive by 21.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,063 shares of the company’s stock valued at $135,000 after acquiring an additional 1,615 shares during the period. Finally, Prudential Financial Inc. acquired a new stake in Rush Street Interactive during the second quarter worth approximately $166,000. 24.78% of the stock is owned by institutional investors.

Rush Street Interactive Stock Down 1.6%

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

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

Wall Street Analyst Weigh In

RSI has been the topic of several research reports. Oppenheimer reaffirmed an “outperform” rating and issued a $24.00 target price on shares of Rush Street Interactive in a research report on Thursday, October 30th. Zacks Research upgraded Rush Street Interactive from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Rush Street Interactive in a report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their target price on Rush Street Interactive from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, October 16th. Finally, 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 research report on Monday, September 8th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.75.

Insider Buying and Selling

In other news, COO Mattias Stetz sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $18.51, for a total value of $555,300.00. Following the transaction, the chief operating officer owned 164,806 shares in the company, valued at approximately $3,050,559.06. The trade was a 15.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kyle Sauers sold 15,038 shares of the company’s stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $22.34, for a total transaction of $335,948.92. Following the sale, the chief financial officer directly owned 418,651 shares in the company, valued at $9,352,663.34. This trade represents a 3.47% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 756,753 shares of company stock valued at $14,427,854. Company insiders own 56.94% of the company’s stock.

Rush Street Interactive Company Profile

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.