Marshall Wace LLP Acquires 637,883 Shares of Rush Street Interactive, Inc. (NYSE:RSI)

Marshall Wace LLP grew its holdings in shares of Rush Street Interactive, Inc. (NYSE:RSI) by 185.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 981,822 shares of the company’s stock after acquiring an additional 637,883 shares during the period. Marshall Wace LLP owned about 0.44% of Rush Street Interactive worth $9,416,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Principal Financial Group Inc. bought a new position in Rush Street Interactive during the second quarter worth $98,000. Allspring Global Investments Holdings LLC raised its stake in Rush Street Interactive by 13,627.6% during 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 last quarter. 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 worth $134,000 after buying an additional 15,500 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Rush Street Interactive during the first quarter worth $148,000. Finally, Magnetar Financial LLC bought a new position in Rush Street Interactive during the second quarter worth $235,000. Institutional investors own 24.78% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Needham & Company LLC lifted their price target 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. Craig Hallum lifted their price target on shares of 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 lifted their price target on shares of Rush Street Interactive from $10.00 to $14.00 and gave the company an “outperform” rating in a research note 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 research note 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $11.17.

Insider Buying and Selling at Rush Street Interactive

In other news, CEO Richard Todd Schwartz sold 40,498 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $10.18, for a total transaction of $412,269.64. Following the completion of the sale, the chief executive officer now owns 1,862,997 shares in the company, valued at approximately $18,965,309.46. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Richard Todd Schwartz sold 40,498 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $10.18, for a total transaction of $412,269.64. Following the completion of the transaction, the chief executive officer now owns 1,862,997 shares in the company, valued at approximately $18,965,309.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul Wierbicki sold 20,437 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $9.53, for a total value of $194,764.61. Following the completion of the sale, the insider now owns 174,982 shares in the company, valued at $1,667,578.46. 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 three months. 56.89% of the stock is currently owned by insiders.

Rush Street Interactive Stock Performance

Rush Street Interactive stock opened at $10.72 on Monday. Rush Street Interactive, Inc. has a fifty-two week low of $3.17 and a fifty-two week high of $11.59. The stock has a market cap of $2.41 billion, a PE ratio of -63.06 and a beta of 1.78. The firm’s 50-day simple moving average is $9.73 and its 200 day simple moving average is $8.61.

Rush Street Interactive (NYSE:RSI) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $220.38 million for the quarter, compared to analysts’ expectations of $201.37 million. During the same period in the previous year, the company earned ($0.08) earnings per share. The firm’s revenue for the quarter was up 33.5% compared to the same quarter last year. As a group, analysts predict that Rush Street Interactive, Inc. will post -0.01 EPS for the current fiscal year.

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.