Squarepoint Ops LLC Makes New Investment in Rush Street Interactive, Inc. (NYSE:RSI)

Squarepoint Ops LLC bought a new position in Rush Street Interactive, Inc. (NYSE:RSI) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 250,417 shares of the company’s stock, valued at approximately $2,401,000. Squarepoint Ops LLC owned about 0.11% of Rush Street Interactive at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Rush Street Interactive by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 5,481,219 shares of the company’s stock worth $35,683,000 after purchasing an additional 85,736 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Rush Street Interactive in the second quarter valued at approximately $1,565,000. Acadian Asset Management LLC bought a new position in shares of Rush Street Interactive in the second quarter valued at approximately $587,000. Nomura Holdings Inc. boosted its holdings in shares of Rush Street Interactive by 24.7% in the fourth quarter. Nomura Holdings Inc. now owns 4,184,373 shares of the company’s stock valued at $18,788,000 after acquiring an additional 828,984 shares in the last quarter. Finally, ClariVest Asset Management LLC bought a new position in shares of Rush Street Interactive in the second quarter valued at approximately $701,000. Institutional investors own 24.78% of the company’s stock.

Analyst Ratings Changes

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

Insider Activity at Rush Street Interactive

In related news, insider Einar Roosileht sold 150,000 shares of the company’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 value of $1,363,500.00. Following the completion of the sale, the insider now owns 809,260 shares in the company, valued at approximately $7,356,173.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Rush Street Interactive news, insider Einar Roosileht sold 150,000 shares of Rush Street Interactive stock in a transaction 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 of the company’s stock, valued at approximately $7,356,173.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Richard Todd Schwartz sold 78,593 shares of Rush Street Interactive stock in a transaction on Monday, August 5th. The shares were sold at an average price of $9.56, for a total transaction of $751,349.08. Following the sale, the chief executive officer now directly owns 1,984,404 shares of the company’s stock, valued at approximately $18,970,902.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 548,210 shares of company stock worth $5,179,362. 56.89% of the stock is owned by corporate insiders.

Rush Street Interactive Price Performance

RSI stock opened at $10.54 on Friday. 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 $2.37 billion, a PE ratio of -62.00 and a beta of 1.79. The firm has a 50 day simple moving average of $9.75 and a 200 day simple moving average of $8.69.

Rush Street Interactive (NYSE:RSI) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.04 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 the consensus estimate 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 firm’s quarterly revenue was up 33.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.08) EPS. As a group, sell-side analysts expect that Rush Street Interactive, Inc. will post -0.01 earnings per share for the current 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.