Quest Partners LLC Takes Position in Rush Street Interactive, Inc. (NYSE:RSI)

Quest Partners LLC bought a new position in shares of Rush Street Interactive, Inc. (NYSE:RSI) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 40,463 shares of the company’s stock, valued at approximately $388,000.

Other large investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its holdings in Rush Street Interactive by 13,627.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,943 shares of the company’s stock worth $78,000 after purchasing an additional 11,856 shares during the last quarter. Aigen Investment Management LP bought a new stake in shares of Rush Street Interactive during the fourth quarter worth approximately $90,000. Principal Financial Group Inc. acquired a new position in Rush Street Interactive in the second quarter valued at approximately $98,000. North Star Investment Management Corp. boosted its stake in Rush Street Interactive by 303.9% in the first quarter. North Star Investment Management Corp. now owns 20,600 shares of the company’s stock valued at $134,000 after acquiring an additional 15,500 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in Rush Street Interactive in the first quarter valued at approximately $148,000. Institutional investors and hedge funds own 24.78% of the company’s stock.

Insider Buying and Selling

In other Rush Street Interactive news, insider Paul Wierbicki sold 20,437 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $9.53, for a total transaction of $194,764.61. Following the completion of the transaction, the insider now owns 174,982 shares in the company, valued at approximately $1,667,578.46. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Rush Street Interactive news, insider Paul Wierbicki sold 20,437 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $9.53, for a total transaction of $194,764.61. Following the completion of the transaction, the insider now owns 174,982 shares of the company’s stock, valued at approximately $1,667,578.46. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Einar Roosileht sold 150,000 shares of Rush Street Interactive stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $9.09, for a total transaction of $1,363,500.00. Following the completion of the sale, the insider now owns 809,260 shares in the company, valued at $7,356,173.40. The disclosure for this sale can be found here. Insiders have sold a total of 548,210 shares of company stock worth $5,179,362 over the last ninety days. Company insiders own 56.89% of the company’s stock.

Rush Street Interactive Trading Up 0.7 %

NYSE:RSI opened at $10.07 on Friday. Rush Street Interactive, Inc. has a 1 year low of $3.17 and a 1 year high of $11.59. The stock has a 50-day moving average price of $9.52 and a two-hundred day moving average price of $8.24. The stock has a market cap of $2.27 billion, a price-to-earnings ratio of -59.24 and a beta of 1.78.

Rush Street Interactive (NYSE:RSI) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.06. The business had revenue of $220.38 million during the quarter, compared to analyst estimates of $201.37 million. Rush Street Interactive had a negative return on equity of 12.45% and a negative net margin of 0.84%. Rush Street Interactive’s quarterly revenue was up 33.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.08) EPS. Sell-side analysts forecast that Rush Street Interactive, Inc. will post -0.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RSI. Craig Hallum increased their price target on Rush Street Interactive from $11.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Oppenheimer increased their target price on Rush Street Interactive from $10.00 to $14.00 and gave the company an “outperform” rating in a research note 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. Finally, Wells Fargo & Company upped their price target 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. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.17.

Rush Street Interactive 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.