Millennium Management LLC Has $5.95 Million Stake in Rush Street Interactive, Inc. (NYSE:RSI)

Millennium Management LLC raised its stake in Rush Street Interactive, Inc. (NYSE:RSI) by 378.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 620,552 shares of the company’s stock after acquiring an additional 490,831 shares during the period. Millennium Management LLC owned about 0.28% of Rush Street Interactive worth $5,951,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Dark Forest Capital Management LP bought a new position in shares of Rush Street Interactive in the second quarter valued at approximately $196,000. AQR Capital Management LLC increased its holdings in Rush Street Interactive by 98.1% during the 2nd quarter. AQR Capital Management LLC now owns 219,857 shares of the company’s stock valued at $2,108,000 after purchasing an additional 108,900 shares in the last quarter. Alpha DNA Investment Management LLC bought a new position in Rush Street Interactive in the 2nd quarter valued at $528,000. Squarepoint Ops LLC acquired a new position in Rush Street Interactive in the second quarter worth $2,401,000. Finally, Marshall Wace LLP grew its holdings in shares of Rush Street Interactive by 185.5% during the second quarter. Marshall Wace LLP now owns 981,822 shares of the company’s stock worth $9,416,000 after purchasing an additional 637,883 shares during the last quarter. 24.78% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RSI has been the subject of several research analyst reports. Craig Hallum boosted 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. 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 report on Thursday, August 1st. Needham & Company LLC raised their target price on shares of Rush Street Interactive from $10.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Oppenheimer boosted their price target on shares of Rush Street Interactive from $10.00 to $14.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $11.17.

Rush Street Interactive Stock Down 0.7 %

NYSE:RSI opened at $10.94 on Friday. Rush Street Interactive, Inc. has a twelve month low of $3.17 and a twelve month high of $11.59. The company has a market cap of $2.46 billion, a P/E ratio of -64.32 and a beta of 1.79. The business has a 50 day moving average price of $9.81 and a two-hundred day moving average price of $8.86.

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

Insider Buying and Selling at Rush Street Interactive

In other news, Director Judith Gold sold 150,000 shares of the firm’s stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Judith Gold sold 150,000 shares of the company’s 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Richard Todd Schwartz sold 78,593 shares of Rush Street Interactive stock in a transaction on Monday, August 5th. The stock was sold at an average price of $9.56, for a total value of $751,349.08. Following the sale, the chief executive officer now directly owns 1,984,404 shares of the company’s stock, valued at $18,970,902.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 548,210 shares of company stock worth $5,179,362 over the last 90 days. Company insiders own 56.89% of the company’s stock.

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.