Dark Forest Capital Management LP Buys New Shares in Rush Street Interactive, Inc. (NYSE:RSI)

Dark Forest Capital Management LP purchased a new position in Rush Street Interactive, Inc. (NYSE:RSI) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 20,482 shares of the company’s stock, valued at approximately $196,000.

Several other institutional investors also recently modified their holdings of the stock. Principal Financial Group Inc. acquired a new position in shares of Rush Street Interactive in the 2nd quarter worth $98,000. Allspring Global Investments Holdings LLC boosted its position in shares of Rush Street Interactive by 13,627.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,943 shares of the company’s stock valued at $78,000 after purchasing an additional 11,856 shares during the period. Hsbc Holdings PLC boosted its position in shares of Rush Street Interactive by 43.4% in the 2nd quarter. Hsbc Holdings PLC now owns 49,215 shares of the company’s stock valued at $463,000 after purchasing an additional 14,894 shares during the period. North Star Investment Management Corp. increased its stake in Rush Street Interactive by 303.9% in the 1st quarter. North Star Investment Management Corp. now owns 20,600 shares of the company’s stock worth $134,000 after purchasing an additional 15,500 shares in the last quarter. Finally, XTX Topco Ltd raised its holdings in Rush Street Interactive by 94.9% during the 2nd quarter. XTX Topco Ltd now owns 41,619 shares of the company’s stock worth $399,000 after buying an additional 20,270 shares during the period. Institutional investors own 24.78% of the company’s stock.

Rush Street Interactive Stock Up 1.3 %

RSI stock opened at $10.86 on Tuesday. The company has a 50 day moving average of $9.74 and a two-hundred day moving average of $8.65. The company has a market cap of $2.44 billion, a price-to-earnings ratio of -63.85 and a beta of 1.78. Rush Street Interactive, Inc. has a 12-month low of $3.17 and a 12-month high of $11.59.

Rush Street Interactive (NYSE:RSI) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.04 earnings per share (EPS) 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 firm had revenue of $220.38 million during the quarter, compared to analysts’ expectations of $201.37 million. During the same quarter last year, the firm earned ($0.08) earnings per share. The business’s revenue for the quarter was up 33.5% on a year-over-year basis. On average, research analysts anticipate that Rush Street Interactive, Inc. will post -0.01 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on RSI. Oppenheimer lifted their target price on shares of Rush Street Interactive from $10.00 to $14.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Craig Hallum lifted their price objective on shares of Rush Street Interactive from $11.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Wells Fargo & Company increased their target price on Rush Street Interactive from $11.00 to $13.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Finally, Needham & Company LLC lifted their price target on Rush Street Interactive from $10.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Rush Street Interactive currently has an average rating of “Moderate Buy” and an average target price of $11.17.

Insider Activity at Rush Street Interactive

In related news, insider Einar Roosileht sold 150,000 shares of the firm’s 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 transaction, the insider now owns 809,260 shares of the company’s stock, valued at $7,356,173.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Richard Todd Schwartz sold 78,593 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $9.56, for a total value of $751,349.08. Following the completion of the sale, the chief executive officer now directly owns 1,984,404 shares in the company, valued at $18,970,902.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Einar Roosileht sold 150,000 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $9.09, for a total transaction of $1,363,500.00. Following the transaction, the insider now directly owns 809,260 shares in the company, valued at $7,356,173.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 548,210 shares of company stock valued at $5,179,362. 56.89% of the stock is owned by corporate 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.