Los Angeles Capital Management LLC Has $570,000 Stake in Rush Street Interactive, Inc. (NYSE:RSI)

Los Angeles Capital Management LLC trimmed its position in shares of Rush Street Interactive, Inc. (NYSE:RSI) by 33.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 87,550 shares of the company’s stock after selling 44,760 shares during the period. Los Angeles Capital Management LLC’s holdings in Rush Street Interactive were worth $570,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Nomura Holdings Inc. grew its stake in Rush Street Interactive by 24.7% during the fourth quarter. Nomura Holdings Inc. now owns 4,184,373 shares of the company’s stock worth $18,788,000 after buying an additional 828,984 shares in the last quarter. PEAK6 Investments LLC boosted its stake in shares of Rush Street Interactive by 387.2% in the 3rd quarter. PEAK6 Investments LLC now owns 309,765 shares of the company’s stock valued at $1,431,000 after purchasing an additional 246,189 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Rush Street Interactive by 23.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 356,323 shares of the company’s stock valued at $1,600,000 after purchasing an additional 68,255 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Rush Street Interactive by 33.2% in the 4th quarter. SG Americas Securities LLC now owns 15,108 shares of the company’s stock valued at $68,000 after purchasing an additional 3,764 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Rush Street Interactive by 10.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 538,758 shares of the company’s stock valued at $2,489,000 after purchasing an additional 49,500 shares in the last quarter. 24.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of Rush Street Interactive from $8.00 to $9.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. JMP Securities restated a “market perform” rating on shares of Rush Street Interactive in a research note on Friday, March 8th. Oppenheimer raised their price target on shares of Rush Street Interactive from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Craig Hallum raised their price objective on shares of Rush Street Interactive from $8.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Finally, Needham & Company LLC raised their price objective on shares of Rush Street Interactive from $9.00 to $10.00 and gave the company a “buy” rating in a report on Friday, May 17th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Rush Street Interactive presently has a consensus rating of “Moderate Buy” and an average price target of $8.50.

Insiders Place Their Bets

In other Rush Street Interactive news, CEO Richard Todd Schwartz sold 23,737 shares of the firm’s stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $6.11, for a total transaction of $145,033.07. Following the completion of the transaction, the chief executive officer now owns 2,062,997 shares in the company, valued at approximately $12,604,911.67. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Richard Todd Schwartz sold 23,737 shares of the firm’s stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $6.11, for a total transaction of $145,033.07. Following the completion of the sale, the chief executive officer now owns 2,062,997 shares of the company’s stock, valued at approximately $12,604,911.67. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kyle Sauers sold 15,983 shares of the firm’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $6.11, for a total transaction of $97,656.13. Following the sale, the chief financial officer now directly owns 550,174 shares of the company’s stock, valued at approximately $3,361,563.14. The disclosure for this sale can be found here. In the last 90 days, insiders sold 146,672 shares of company stock worth $964,473. 56.89% of the stock is currently owned by insiders.

Rush Street Interactive Stock Performance

Rush Street Interactive stock opened at $9.30 on Wednesday. Rush Street Interactive, Inc. has a 52-week low of $2.90 and a 52-week high of $9.82. The firm has a 50 day moving average price of $8.25 and a two-hundred day moving average price of $6.39. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of -54.71 and a beta of 1.78.

Rush Street Interactive (NYSE:RSI) last released its quarterly earnings results on Wednesday, May 1st. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.04. Rush Street Interactive had a negative net margin of 1.58% and a negative return on equity of 15.68%. The firm had revenue of $217.43 million during the quarter, compared to analyst estimates of $203.05 million. As a group, equities research analysts predict that Rush Street Interactive, Inc. will post -0.05 EPS for the current fiscal year.

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.