Principal Financial Group Inc. Purchases Shares of 10,270 Rush Street Interactive, Inc. (NYSE:RSI)

Principal Financial Group Inc. bought a new position in Rush Street Interactive, Inc. (NYSE:RSI) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,270 shares of the company’s stock, valued at approximately $98,000.

Other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its stake in Rush Street Interactive by 13,627.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 11,943 shares of the company’s stock worth $78,000 after acquiring an additional 11,856 shares during the last quarter. North Star Investment Management Corp. grew its holdings in shares of Rush Street Interactive by 303.9% during the 1st quarter. North Star Investment Management Corp. now owns 20,600 shares of the company’s stock worth $134,000 after purchasing an additional 15,500 shares during the period. Aigen Investment Management LP acquired a new stake in Rush Street Interactive during the 4th quarter worth approximately $90,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Rush Street Interactive in the first quarter valued at approximately $148,000. Finally, Levin Capital Strategies L.P. lifted its position in Rush Street Interactive by 250.0% during the first quarter. Levin Capital Strategies L.P. now owns 35,000 shares of the company’s stock valued at $228,000 after buying an additional 25,000 shares in the last quarter. 24.78% of the stock is currently owned by hedge funds and other institutional investors.

Rush Street Interactive Price Performance

Rush Street Interactive stock opened at $9.88 on Tuesday. Rush Street Interactive, Inc. has a 12-month low of $3.17 and a 12-month high of $11.59. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of -58.09 and a beta of 1.78. The firm’s fifty day moving average price is $9.54 and its 200 day moving average price is $8.31.

Rush Street Interactive (NYSE:RSI) last announced its earnings results on Wednesday, July 31st. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.06. The business had revenue of $220.38 million for the quarter, compared to analyst estimates of $201.37 million. Rush Street Interactive had a negative return on equity of 12.45% and a negative net margin of 0.84%. The company’s revenue for the quarter was up 33.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.08) earnings per share. Analysts forecast that Rush Street Interactive, Inc. will post -0.01 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Craig Hallum increased their price objective on shares of Rush Street Interactive from $11.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Needham & Company LLC increased their price target on Rush Street Interactive from $10.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Wells Fargo & Company boosted their price objective on Rush Street Interactive from $11.00 to $13.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Finally, Oppenheimer increased their target price on Rush Street Interactive from $10.00 to $14.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $11.17.

Insiders Place Their Bets

In other news, Director Judith Gold sold 150,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $9.50, for a total transaction of $1,425,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Rush Street Interactive news, CEO Richard Todd Schwartz sold 78,593 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $9.56, for a total transaction of $751,349.08. Following the sale, the chief executive officer now owns 1,984,404 shares in the company, valued at $18,970,902.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Judith Gold sold 150,000 shares of Rush Street Interactive stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $9.50, for a total value of $1,425,000.00. The disclosure for this sale can be found here. Insiders have sold 548,210 shares of company stock worth $5,179,362 in the last three months. 56.89% of the stock is owned by insiders.

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.