Millennium Management LLC Has $5.95 Million Stock Position in Rush Street Interactive, Inc. (NYSE:RSI)

Millennium Management LLC raised its position in Rush Street Interactive, Inc. (NYSE:RSI) by 378.4% during the second quarter, Holdings Channel reports. The firm owned 620,552 shares of the company’s stock after purchasing an additional 490,831 shares during the period. Millennium Management LLC’s holdings in Rush Street Interactive were worth $5,951,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Assenagon Asset Management S.A. grew its stake in Rush Street Interactive by 157.9% during the second quarter. Assenagon Asset Management S.A. now owns 1,425,016 shares of the company’s stock worth $13,666,000 after purchasing an additional 872,367 shares during the period. Nomura Holdings Inc. grew its position in shares of Rush Street Interactive by 24.7% during the 4th quarter. Nomura Holdings Inc. now owns 4,184,373 shares of the company’s stock worth $18,788,000 after buying an additional 828,984 shares during the period. Marshall Wace LLP increased its stake in Rush Street Interactive by 185.5% in the second quarter. Marshall Wace LLP now owns 981,822 shares of the company’s stock valued at $9,416,000 after purchasing an additional 637,883 shares in the last quarter. Renaissance Technologies LLC raised its stake in Rush Street Interactive by 47.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,504,200 shares of the company’s stock worth $14,425,000 after buying an additional 482,872 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in Rush Street Interactive in the first quarter worth approximately $1,673,000. 24.78% of the stock is owned by institutional investors.

Rush Street Interactive Stock Down 0.7 %

Rush Street Interactive stock opened at $10.94 on Friday. The company has a market capitalization of $2.46 billion, a P/E ratio of -64.32 and a beta of 1.79. The firm has a 50 day moving average price of $9.81 and a 200-day moving average price of $8.86. Rush Street Interactive, Inc. has a twelve month low of $3.17 and a twelve month high of $11.59.

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

Analysts Set New Price Targets

RSI has been the topic of a number of recent research reports. 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 report on Thursday, August 1st. Oppenheimer raised 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 report on Thursday, August 1st. Wells Fargo & Company increased their price objective on Rush Street Interactive from $11.00 to $13.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Finally, Craig Hallum upped their price target on Rush Street Interactive from $11.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Rush Street Interactive has a consensus rating of “Moderate Buy” and an average price target of $11.17.

Insider Activity at Rush Street Interactive

In other news, insider Paul Wierbicki sold 20,437 shares of Rush Street Interactive stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $9.53, for a total value of $194,764.61. Following the completion of the transaction, the insider now directly owns 174,982 shares in the company, valued at approximately $1,667,578.46. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Einar Roosileht sold 150,000 shares of the stock in a transaction 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 transaction, the insider now owns 809,260 shares of the company’s stock, valued at $7,356,173.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Paul Wierbicki sold 20,437 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $9.53, for a total transaction of $194,764.61. Following the sale, the insider now owns 174,982 shares in the company, valued at approximately $1,667,578.46. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 548,210 shares of company stock worth $5,179,362. Corporate insiders own 56.89% of the company’s stock.

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.