Arrowstreet Capital Limited Partnership Buys 398,089 Shares of Rush Street Interactive, Inc. $RSI

Arrowstreet Capital Limited Partnership raised its position in Rush Street Interactive, Inc. (NYSE:RSI) by 38.1% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 1,443,545 shares of the company’s stock after buying an additional 398,089 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.63% of Rush Street Interactive worth $21,509,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Alliancebernstein L.P. raised its position in shares of Rush Street Interactive by 1,617.7% during the first quarter. Alliancebernstein L.P. now owns 6,133,759 shares of the company’s stock worth $65,754,000 after acquiring an additional 5,776,660 shares during the last quarter. Nuveen LLC acquired a new stake in Rush Street Interactive in the first quarter worth about $29,005,000. William Blair Investment Management LLC raised its holdings in Rush Street Interactive by 4.8% during the 2nd quarter. William Blair Investment Management LLC now owns 2,675,601 shares of the company’s stock worth $39,866,000 after purchasing an additional 121,992 shares during the last quarter. Driehaus Capital Management LLC lifted its position in Rush Street Interactive by 12.7% during the 1st quarter. Driehaus Capital Management LLC now owns 2,480,268 shares of the company’s stock valued at $26,588,000 after purchasing an additional 279,751 shares during the period. Finally, Topline Capital Management LLC lifted its position in Rush Street Interactive by 30.7% during the 1st quarter. Topline Capital Management LLC now owns 2,366,875 shares of the company’s stock valued at $25,373,000 after purchasing an additional 555,552 shares during the period. 24.78% of the stock is owned by institutional investors and hedge funds.

Rush Street Interactive Price Performance

NYSE RSI opened at $18.36 on Monday. Rush Street Interactive, Inc. has a one year low of $9.54 and a one year high of $22.65. The firm has a market cap of $4.21 billion, a P/E ratio of 73.42 and a beta of 1.65. The stock’s 50-day moving average is $18.29 and its 200-day moving average is $17.53.

Rush Street Interactive (NYSE:RSI) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.02. The business had revenue of $277.91 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 19.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.05 EPS. Equities analysts anticipate that Rush Street Interactive, Inc. will post 0.04 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on RSI. Wall Street Zen raised shares of Rush Street Interactive from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Oppenheimer reaffirmed an “outperform” rating and set a $24.00 target price on shares of Rush Street Interactive in a report on Thursday, October 30th. Benchmark upped 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. Jefferies Financial Group increased their price target on Rush Street Interactive from $26.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Rush Street Interactive in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.75.

Insider Activity at Rush Street Interactive

In related news, insider Einar Roosileht sold 70,000 shares of the firm’s stock in a transaction on 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. This trade represents a 7.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Richard Todd Schwartz sold 72,446 shares of the business’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $17.41, for a total transaction of $1,261,284.86. Following the completion of the sale, the chief executive officer directly owned 380,242 shares in the company, valued at $6,620,013.22. This represents a 16.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 620,015 shares of company stock worth $11,572,764 over the last three months. 56.89% of the stock is currently owned by insiders.

Rush Street Interactive 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.