Tidal Investments LLC purchased a new stake in shares of Rush Street Interactive, Inc. (NYSE:RSI – Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 44,482 shares of the company’s stock, valued at approximately $1,323,000.
Other institutional investors also recently bought and sold shares of the company. Integrated Wealth Concepts LLC purchased a new position in shares of Rush Street Interactive in the 2nd quarter valued at $70,000. Allworth Financial LP lifted its stake in shares of Rush Street Interactive by 38.1% during the second quarter. Allworth Financial LP now owns 1,917 shares of the company’s stock worth $57,000 after purchasing an additional 529 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of Rush Street Interactive by 11.4% during the second quarter. Arizona State Retirement System now owns 30,002 shares of the company’s stock worth $892,000 after purchasing an additional 3,081 shares in the last quarter. Corient Private Wealth LP boosted its position in shares of Rush Street Interactive by 14.7% in the second quarter. Corient Private Wealth LP now owns 75,364 shares of the company’s stock worth $2,241,000 after buying an additional 9,687 shares during the period. Finally, HighTower Advisors LLC purchased a new stake in shares of Rush Street Interactive in the second quarter worth about $398,000. 24.78% of the stock is currently owned by hedge funds and other institutional investors.
Rush Street Interactive Stock Down 7.6%
Shares of Rush Street Interactive stock opened at $23.34 on Friday. The business has a 50-day moving average price of $27.62 and a 200 day moving average price of $26.26. Rush Street Interactive, Inc. has a fifty-two week low of $15.51 and a fifty-two week high of $34.53. The firm has a market cap of $5.41 billion, a P/E ratio of 80.50 and a beta of 1.51.
Insider Buying and Selling
In other Rush Street Interactive news, CEO Richard Schwartz sold 111,112 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $28.02, for a total transaction of $3,113,358.24. Following the completion of the sale, the chief executive officer owned 421,258 shares in the company, valued at $11,803,649.16. The trade was a 20.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Mattias Stetz sold 20,000 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $31.22, for a total transaction of $624,400.00. Following the sale, the chief operating officer directly owned 197,874 shares in the company, valued at $6,177,626.28. This trade represents a 9.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 614,000 shares of company stock worth $17,394,492 over the last ninety days. 52.89% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on the company. Citigroup reiterated a “market outperform” rating on shares of Rush Street Interactive in a research note on Thursday, July 30th. Benchmark upped their price target on Rush Street Interactive from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Jefferies Financial Group restated a “buy” rating and issued a $39.00 price target on shares of Rush Street Interactive in a report on Thursday, July 30th. Needham & Company LLC increased their price objective on shares of Rush Street Interactive from $33.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Finally, Weiss Ratings upgraded shares of Rush Street Interactive from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $35.22.
Read Our Latest Research Report on Rush Street Interactive
Rush Street Interactive Profile
Rush Street Interactive, Inc (NYSE: RSI) is an online gaming and sports betting company that operates digital casino, sportsbook and related gaming platforms. Its consumer-facing brands include BetRivers and PlaySugarHouse, which offer mobile and online wagering products such as sports betting, internet casino games and, in certain markets, online poker.
The company operates primarily in regulated markets across the United States and Canada, as well as select Latin American jurisdictions.
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