Cwm LLC Acquires 7,457 Shares of Rush Street Interactive, Inc. (NYSE:RSI)

Cwm LLC boosted its position in shares of Rush Street Interactive, Inc. (NYSE:RSI) by 425.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,209 shares of the company’s stock after purchasing an additional 7,457 shares during the quarter. Cwm LLC’s holdings in Rush Street Interactive were worth $100,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Point72 Asset Management L.P. boosted its position in Rush Street Interactive by 300.3% during the second quarter. Point72 Asset Management L.P. now owns 24,821 shares of the company’s stock valued at $238,000 after purchasing an additional 18,621 shares during the last quarter. Quarry LP boosted its stake in Rush Street Interactive by 15.9% in the 2nd quarter. Quarry LP now owns 8,762 shares of the company’s stock valued at $84,000 after purchasing an additional 1,200 shares during the period. Capital Impact Advisors LLC increased its position in Rush Street Interactive by 34.3% during the second quarter. Capital Impact Advisors LLC now owns 63,501 shares of the company’s stock worth $609,000 after acquiring an additional 16,221 shares during the period. Algert Global LLC grew its position in Rush Street Interactive by 70.6% during the second quarter. Algert Global LLC now owns 234,573 shares of the company’s stock worth $2,250,000 after buying an additional 97,047 shares in the last quarter. Finally, Driehaus Capital Management LLC bought a new stake in Rush Street Interactive during the second quarter worth about $10,605,000. Institutional investors and hedge funds own 24.78% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on RSI. Wells Fargo & Company lifted their price target on shares of Rush Street Interactive from $11.00 to $13.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Craig Hallum raised their price objective on shares of Rush Street Interactive from $11.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Needham & Company LLC upped their target price on shares of 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, Oppenheimer raised their price objective on shares of Rush Street Interactive from $10.00 to $14.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Rush Street Interactive currently has an average rating of “Moderate Buy” and a consensus target price of $11.17.

Insiders Place Their Bets

In related news, CEO Richard Todd Schwartz sold 40,498 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $10.18, for a total value of $412,269.64. Following the completion of the transaction, the chief executive officer now directly owns 1,862,997 shares of the company’s stock, valued at approximately $18,965,309.46. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Richard Todd Schwartz sold 40,498 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $10.18, for a total transaction of $412,269.64. Following the completion of the transaction, the chief executive officer now directly owns 1,862,997 shares in the company, valued at $18,965,309.46. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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. Over the last quarter, insiders sold 548,210 shares of company stock worth $5,179,362. Company insiders own 56.89% of the company’s stock.

Rush Street Interactive Price Performance

Shares of NYSE RSI opened at $10.32 on Friday. Rush Street Interactive, Inc. has a 1 year low of $3.17 and a 1 year high of $11.59. The firm has a 50-day simple moving average of $10.15 and a two-hundred day simple moving average of $9.19. The company has a market cap of $2.32 billion, a P/E ratio of -60.71 and a beta of 1.79.

Rush Street Interactive (NYSE:RSI) last issued its earnings results on Wednesday, July 31st. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $220.38 million during the quarter, compared to analyst estimates of $201.37 million. During the same period in the previous year, the company posted ($0.08) EPS. Rush Street Interactive’s revenue was up 33.5% on a year-over-year basis. As a group, equities research analysts expect that Rush Street Interactive, Inc. will post -0.01 EPS for the current year.

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.