Rush Street Interactive, Inc. (NYSE:RSI) Shares Purchased by Cwm LLC

Cwm LLC boosted its stake in shares of Rush Street Interactive, Inc. (NYSE:RSI) by 425.6% in the third quarter, HoldingsChannel reports. 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 filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Driehaus Capital Management LLC acquired a new position in shares of Rush Street Interactive in the 2nd quarter worth $10,605,000. Assenagon Asset Management S.A. lifted its position in shares of Rush Street Interactive by 157.9% in the second quarter. Assenagon Asset Management S.A. now owns 1,425,016 shares of the company’s stock worth $13,666,000 after buying an additional 872,367 shares during the last quarter. Marshall Wace LLP lifted its position in Rush Street Interactive by 185.5% during the 2nd 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 last quarter. Millennium Management LLC grew its holdings in Rush Street Interactive by 378.4% in the 2nd quarter. Millennium Management LLC now owns 620,552 shares of the company’s stock valued at $5,951,000 after buying an additional 490,831 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in Rush Street Interactive by 47.3% during the second quarter. Renaissance Technologies LLC now owns 1,504,200 shares of the company’s stock worth $14,425,000 after acquiring an additional 482,872 shares during the period. Institutional investors and hedge funds own 24.78% of the company’s stock.

Insider Activity

In related news, CEO Richard Todd Schwartz sold 40,498 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $10.18, for a total transaction of $412,269.64. Following 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Rush Street Interactive news, insider Paul Wierbicki sold 20,437 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was 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 owns 174,982 shares in the company, valued at $1,667,578.46. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Richard Todd Schwartz sold 40,498 shares of Rush Street Interactive stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $10.18, for a total transaction of $412,269.64. Following the sale, the chief executive officer now owns 1,862,997 shares of the company’s stock, valued at approximately $18,965,309.46. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 548,210 shares of company stock valued at $5,179,362 in the last ninety days. 56.89% of the stock is owned by company insiders.

Rush Street Interactive Stock Down 2.5 %

RSI stock opened at $10.32 on Friday. The company’s 50-day moving average price is $10.15 and its two-hundred day moving average price is $9.19. Rush Street Interactive, Inc. has a 12 month low of $3.17 and a 12 month high of $11.59. The firm 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. The firm 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 quarterly revenue was up 33.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.08) earnings per share. Equities analysts predict that Rush Street Interactive, Inc. will post -0.01 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on RSI shares. Wells Fargo & Company upped their target price on Rush Street Interactive from $11.00 to $13.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Oppenheimer boosted 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. Craig Hallum raised their price target on Rush Street Interactive from $11.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Needham & Company LLC boosted 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. Two equities research 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 stock has an average rating of “Moderate Buy” and an average target price of $11.17.

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.