Assenagon Asset Management S.A. Grows Stock Position in Rush Street Interactive, Inc. (NYSE:RSI)

Assenagon Asset Management S.A. increased its stake in shares of Rush Street Interactive, Inc. (NYSE:RSI) by 157.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,425,016 shares of the company’s stock after purchasing an additional 872,367 shares during the quarter. Assenagon Asset Management S.A. owned 0.63% of Rush Street Interactive worth $13,666,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of RSI. Allspring Global Investments Holdings LLC grew its stake in shares of 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 purchasing an additional 11,856 shares in the last quarter. SG Americas Securities LLC raised its stake in Rush Street Interactive by 33.2% in the fourth quarter. SG Americas Securities LLC now owns 15,108 shares of the company’s stock valued at $68,000 after buying an additional 3,764 shares in the last quarter. Aigen Investment Management LP acquired a new stake in Rush Street Interactive in the fourth quarter valued at $90,000. North Star Investment Management Corp. raised its stake in Rush Street Interactive by 303.9% in 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. acquired a new stake in Rush Street Interactive in the first quarter valued at $148,000. Hedge funds and other institutional investors own 24.78% of the company’s stock.

Insiders Place Their Bets

In other Rush Street Interactive news, CEO Richard Todd Schwartz sold 40,498 shares of the company’s stock in a transaction 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 transaction, 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 legal filing with the SEC, which can be accessed through this link. In other news, CEO Richard Todd Schwartz sold 40,498 shares of the stock in a transaction dated Wednesday, August 7th. The shares were 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 owns 1,862,997 shares in the company, valued at approximately $18,965,309.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul Wierbicki sold 20,437 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $9.53, for a total transaction of $194,764.61. Following the completion of the transaction, the insider now owns 174,982 shares of the company’s stock, valued at approximately $1,667,578.46. The disclosure for this sale can be found here. In the last quarter, insiders sold 398,210 shares of company stock worth $3,815,862. 56.89% of the stock is owned by insiders.

Rush Street Interactive Trading Up 0.5 %

RSI stock traded up $0.05 on Friday, hitting $9.35. The company’s stock had a trading volume of 1,243,747 shares, compared to its average volume of 1,582,274. The firm has a 50 day moving average of $9.50 and a two-hundred day moving average of $7.73. Rush Street Interactive, Inc. has a 1 year low of $3.17 and a 1 year high of $11.59. The stock has a market cap of $2.10 billion, a price-to-earnings ratio of -55.00 and a beta of 1.79.

Rush Street Interactive (NYSE:RSI) last released 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. Rush Street Interactive had a negative net margin of 0.84% and a negative return on equity of 12.65%. The firm had revenue of $220.38 million during the quarter, compared to the consensus estimate of $201.37 million. During the same quarter in the prior year, the firm earned ($0.08) EPS. Rush Street Interactive’s revenue for the quarter was up 33.5% on a year-over-year basis. As a group, equities analysts forecast that Rush Street Interactive, Inc. will post -0.05 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on RSI shares. Wells Fargo & Company raised their price objective on shares of Rush Street Interactive from $11.00 to $13.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Oppenheimer upped their target price 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. Needham & Company LLC upped their target price on shares of Rush Street Interactive from $10.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Craig Hallum upped their target price 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. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Rush Street Interactive presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.17.

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.