Quarry LP Acquires 1,200 Shares of Rush Street Interactive, Inc. (NYSE:RSI)

Quarry LP grew its holdings in Rush Street Interactive, Inc. (NYSE:RSI) by 15.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,762 shares of the company’s stock after purchasing an additional 1,200 shares during the period. Quarry LP’s holdings in Rush Street Interactive were worth $84,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of RSI. The Manufacturers Life Insurance Company increased its holdings in Rush Street Interactive by 25.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 28,645 shares of the company’s stock worth $275,000 after buying an additional 5,840 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Rush Street Interactive during the 2nd quarter valued at about $98,000. Allspring Global Investments Holdings LLC grew its stake in shares of 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 acquiring an additional 11,856 shares during the period. Hsbc Holdings PLC raised its holdings in shares of Rush Street Interactive by 43.4% during the second 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 last quarter. Finally, North Star Investment Management Corp. lifted its position 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 purchasing an additional 15,500 shares during the period. Hedge funds and other institutional investors own 24.78% of the company’s stock.

Insider Buying and Selling at Rush Street Interactive

In other news, CEO Richard Todd Schwartz sold 78,593 shares of the 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 of the company’s stock, valued at $18,970,902.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Richard Todd Schwartz sold 78,593 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $9.56, for a total value of $751,349.08. Following the completion of the transaction, the chief executive officer now owns 1,984,404 shares of the company’s stock, valued at $18,970,902.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Kyle Sauers sold 108,682 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $9.50, for a total value of $1,032,479.00. Following the sale, the chief financial officer now owns 441,492 shares of the company’s stock, valued at approximately $4,194,174. The disclosure for this sale can be found here. Insiders have sold 548,210 shares of company stock valued at $5,179,362 over the last 90 days. 56.89% of the stock is currently owned by corporate insiders.

Rush Street Interactive Price Performance

NYSE:RSI opened at $10.48 on Thursday. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of -61.65 and a beta of 1.78. The business has a fifty day moving average price of $9.75 and a 200-day moving average price of $8.69. Rush Street Interactive, Inc. has a one year low of $3.17 and a one year high of $11.59.

Rush Street Interactive (NYSE:RSI) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.04 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $201.37 million. During the same quarter last year, the company earned ($0.08) earnings per share. The business’s revenue for the quarter was up 33.5% compared to the same quarter last year. On average, equities research analysts expect that Rush Street Interactive, Inc. will post -0.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on RSI shares. Needham & Company LLC lifted their target price on shares of Rush Street Interactive from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Oppenheimer lifted their price objective on Rush Street Interactive from $10.00 to $14.00 and gave the stock an “outperform” rating in a 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, Craig Hallum boosted their price target on Rush Street Interactive from $11.00 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’s stock. Based on data from MarketBeat, the stock currently has a consensus 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.