Point72 Asset Management L.P. Increases Stake in Rush Street Interactive, Inc. (NYSE:RSI)

Point72 Asset Management L.P. boosted its stake in Rush Street Interactive, Inc. (NYSE:RSI) by 300.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,821 shares of the company’s stock after purchasing an additional 18,621 shares during the period. Point72 Asset Management L.P.’s holdings in Rush Street Interactive were worth $238,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of RSI. Quarry LP increased its stake in shares of Rush Street Interactive by 15.9% during the second quarter. Quarry LP now owns 8,762 shares of the company’s stock valued at $84,000 after buying an additional 1,200 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Rush Street Interactive by 25.6% during the second quarter. The Manufacturers Life Insurance Company now owns 28,645 shares of the company’s stock valued at $275,000 after buying an additional 5,840 shares during the period. Principal Financial Group Inc. purchased a new position in shares of Rush Street Interactive during the second quarter valued at approximately $98,000. Allspring Global Investments Holdings LLC increased its stake in shares of 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 valued at $78,000 after buying an additional 11,856 shares during the period. Finally, Hsbc Holdings PLC increased its stake in shares of Rush Street Interactive by 43.4% during the second quarter. Hsbc Holdings PLC now owns 49,215 shares of the company’s stock valued at $463,000 after buying an additional 14,894 shares during the period. 24.78% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Judith Gold sold 150,000 shares of Rush Street Interactive stock in a transaction dated 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 Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Kyle Sauers sold 108,682 shares of Rush Street Interactive stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $9.50, for a total transaction of $1,032,479.00. Following the transaction, the chief financial officer now directly owns 441,492 shares of the company’s stock, valued at $4,194,174. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Judith Gold sold 150,000 shares of Rush Street Interactive stock in a transaction dated Friday, August 9th. The shares were 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. In the last ninety days, insiders sold 548,210 shares of company stock worth $5,179,362. 56.89% of the stock is owned by corporate insiders.

Rush Street Interactive Trading Up 1.5 %

Rush Street Interactive stock opened at $10.70 on Friday. The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of -62.94 and a beta of 1.79. Rush Street Interactive, Inc. has a 12 month low of $3.17 and a 12 month high of $11.59. The business’s fifty day simple moving average is $9.76 and its two-hundred day simple moving average is $8.74.

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

Analyst Upgrades and Downgrades

RSI has been the topic of several recent research reports. Craig Hallum upped their price target on Rush Street Interactive from $11.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Oppenheimer upped their price target on Rush Street Interactive from $10.00 to $14.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Needham & Company LLC upped their price target on Rush Street Interactive from $10.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Wells Fargo & Company upped their price target 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. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $11.17.

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.