Algert Global LLC Acquires 97,047 Shares of Rush Street Interactive, Inc. (NYSE:RSI)

Algert Global LLC boosted its stake in Rush Street Interactive, Inc. (NYSE:RSI) by 70.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 234,573 shares of the company’s stock after buying an additional 97,047 shares during the period. Algert Global LLC’s holdings in Rush Street Interactive were worth $2,250,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of RSI. Allspring Global Investments Holdings LLC lifted its holdings in Rush Street Interactive by 13,627.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 11,943 shares of the company’s stock worth $78,000 after buying an additional 11,856 shares during the period. Principal Financial Group Inc. purchased a new stake in Rush Street Interactive in the second quarter worth about $98,000. North Star Investment Management Corp. lifted its holdings 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 worth $134,000 after buying an additional 15,500 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Rush Street Interactive in the first quarter worth about $148,000. Finally, Mesirow Financial Investment Management Inc. purchased a new stake in Rush Street Interactive in the first quarter worth about $167,000. 24.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Rush Street Interactive news, 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 value of $412,269.64. Following the completion of 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Rush Street Interactive news, 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 value of $412,269.64. Following the completion of 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Paul Wierbicki sold 20,437 shares of Rush Street Interactive 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 sale, the insider now directly owns 174,982 shares of the company’s stock, valued at approximately $1,667,578.46. The disclosure for this sale can be found here. Insiders sold a total of 548,210 shares of company stock worth $5,179,362 in the last three months. Insiders own 56.89% of the company’s stock.

Rush Street Interactive Stock Up 1.8 %

Shares of NYSE RSI opened at $10.48 on Thursday. Rush Street Interactive, Inc. has a twelve month low of $3.17 and a twelve month high of $11.59. The firm has a market cap of $2.36 billion, a P/E ratio of -61.65 and a beta of 1.78. The company has a 50 day moving average of $9.75 and a 200 day moving average of $8.69.

Rush Street Interactive (NYSE:RSI) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.06. Rush Street Interactive had a negative net margin of 0.84% and a negative return on equity of 12.45%. The company 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 business earned ($0.08) EPS. The firm’s revenue for the quarter was up 33.5% on a year-over-year basis. As a group, equities analysts expect that Rush Street Interactive, Inc. will post -0.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. 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. Needham & Company LLC lifted their target price on shares of Rush Street Interactive from $10.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Wells Fargo & Company lifted their target price on shares of Rush Street Interactive from $11.00 to $13.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Finally, Craig Hallum lifted their target price on shares of Rush Street Interactive from $11.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Two 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.

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.