The Manufacturers Life Insurance Company Has $275,000 Holdings in Rush Street Interactive, Inc. (NYSE:RSI)

The Manufacturers Life Insurance Company grew its stake in shares of Rush Street Interactive, Inc. (NYSE:RSI) by 25.6% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 28,645 shares of the company’s stock after purchasing an additional 5,840 shares during the period. The Manufacturers Life Insurance Company’s holdings in Rush Street Interactive were worth $275,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Assenagon Asset Management S.A. increased its position in shares of Rush Street Interactive by 157.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,425,016 shares of the company’s stock valued at $13,666,000 after purchasing an additional 872,367 shares during the last quarter. Marshall Wace LLP raised its position in Rush Street Interactive by 185.5% in the second quarter. Marshall Wace LLP now owns 981,822 shares of the company’s stock worth $9,416,000 after acquiring an additional 637,883 shares during the period. Millennium Management LLC boosted its stake in Rush Street Interactive by 378.4% in the second quarter. Millennium Management LLC now owns 620,552 shares of the company’s stock valued at $5,951,000 after acquiring an additional 490,831 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Rush Street Interactive by 47.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,504,200 shares of the company’s stock valued at $14,425,000 after acquiring an additional 482,872 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Rush Street Interactive during the 1st quarter worth approximately $1,673,000. 24.78% of the stock is owned by hedge funds and other institutional investors.

Rush Street Interactive Stock Performance

Shares of Rush Street Interactive stock opened at $11.13 on Friday. Rush Street Interactive, Inc. has a 52-week low of $3.17 and a 52-week high of $11.59. The company’s 50 day moving average price is $9.96 and its 200-day moving average price is $9.03. The stock has a market capitalization of $2.50 billion, a price-to-earnings ratio of -65.47 and a beta of 1.79.

Rush Street Interactive (NYSE:RSI) last announced its quarterly 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 net margin of 0.84% and a negative return on equity of 12.45%. The company’s revenue was up 33.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.08) EPS. As a group, equities research analysts forecast that Rush Street Interactive, Inc. will post -0.01 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

RSI has been the subject of several analyst reports. Craig Hallum raised their price objective on shares of Rush Street Interactive from $11.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Needham & Company LLC boosted their target price on Rush Street Interactive from $10.00 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. Finally, Oppenheimer raised their target price on shares of 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 equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $11.17.

Insider Transactions at Rush Street Interactive

In other Rush Street Interactive news, insider Paul Wierbicki sold 20,437 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $9.53, for a total value of $194,764.61. Following the completion of the transaction, the insider now directly owns 174,982 shares in the company, valued at approximately $1,667,578.46. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Judith Gold sold 150,000 shares of the business’s stock in a transaction 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Paul Wierbicki sold 20,437 shares of Rush Street Interactive stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $9.53, for a total transaction of $194,764.61. Following the transaction, the insider now directly owns 174,982 shares of the company’s stock, valued at approximately $1,667,578.46. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 548,210 shares of company stock worth $5,179,362. 56.89% of the stock is currently 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.