Alpha DNA Investment Management LLC Takes Position in Rush Street Interactive, Inc. (NYSE:RSI)

Alpha DNA Investment Management LLC purchased a new position in shares of Rush Street Interactive, Inc. (NYSE:RSI) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 55,050 shares of the company’s stock, valued at approximately $528,000.

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

Insider Activity

In related news, CEO Richard Todd Schwartz sold 40,498 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $10.18, for a total value of $412,269.64. Following the completion of the transaction, the chief executive officer now directly owns 1,862,997 shares of the company’s stock, valued at approximately $18,965,309.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Rush Street Interactive news, Director Judith Gold sold 150,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $9.50, for a total transaction of $1,425,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Richard Todd Schwartz sold 40,498 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $10.18, for a total transaction of $412,269.64. Following the sale, the chief executive officer now owns 1,862,997 shares in the company, valued at $18,965,309.46. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 548,210 shares of company stock valued at $5,179,362. Insiders own 56.89% of the company’s stock.

Rush Street Interactive Trading Up 1.4 %

RSI stock opened at $10.60 on Wednesday. Rush Street Interactive, Inc. has a 1 year low of $3.17 and a 1 year high of $11.59. The stock’s fifty day moving average is $9.69 and its two-hundred day moving average is $8.51.

Rush Street Interactive (NYSE:RSI) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.06. The firm had revenue of $220.38 million for 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%. Rush Street Interactive’s quarterly revenue was up 33.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.08) EPS. Equities analysts anticipate that Rush Street Interactive, Inc. will post -0.01 earnings per share for the current year.

Analysts Set New Price Targets

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