Emerald Advisers LLC Boosts Stock Holdings in Rush Street Interactive, Inc. (NYSE:RSI)

Emerald Advisers LLC increased its position in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 4.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 757,477 shares of the company's stock after acquiring an additional 30,988 shares during the period. Emerald Advisers LLC owned approximately 0.33% of Rush Street Interactive worth $8,120,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its position in Rush Street Interactive by 7,958.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,029,239 shares of the company's stock worth $27,843,000 after purchasing an additional 2,004,059 shares during the period. Topline Capital Management LLC acquired a new stake in Rush Street Interactive during the 4th quarter worth about $24,851,000. William Blair Investment Management LLC acquired a new stake in Rush Street Interactive during the 4th quarter worth about $21,635,000. Nicholas Investment Partners LP acquired a new stake in Rush Street Interactive during the 4th quarter worth about $14,970,000. Finally, Vanguard Group Inc. grew its position in Rush Street Interactive by 14.0% during the 4th quarter. Vanguard Group Inc. now owns 8,596,434 shares of the company's stock worth $117,943,000 after purchasing an additional 1,056,583 shares during the period. Hedge funds and other institutional investors own 24.78% of the company's stock.

Analysts Set New Price Targets

RSI has been the topic of several analyst reports. Jefferies Financial Group increased their price target on Rush Street Interactive from $17.00 to $18.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. JPMorgan Chase & Co. started coverage on Rush Street Interactive in a research report on Monday, June 23rd. They set a "neutral" rating and a $14.00 target price on the stock. Macquarie restated an "outperform" rating and set a $16.00 target price on shares of Rush Street Interactive in a research report on Friday, May 2nd. Susquehanna raised their target price on Rush Street Interactive from $14.00 to $15.00 and gave the company a "positive" rating in a research report on Thursday, May 1st. Finally, Benchmark raised their target price on Rush Street Interactive from $14.00 to $17.00 and gave the company a "buy" rating in a research report on Tuesday, July 1st. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $15.89.

Rush Street Interactive Price Performance

RSI stock traded down $0.09 during trading on Wednesday, hitting $14.66. The stock had a trading volume of 1,215,758 shares, compared to its average volume of 1,750,566. The company's 50-day moving average price is $13.44 and its two-hundred day moving average price is $12.99. Rush Street Interactive, Inc. has a twelve month low of $8.52 and a twelve month high of $16.78. The stock has a market capitalization of $3.36 billion, a P/E ratio of 134.00 and a beta of 1.87.

Rush Street Interactive (NYSE:RSI - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.09 earnings per share for the quarter, topping analysts' consensus estimates of $0.08 by $0.01. Rush Street Interactive had a net margin of 0.87% and a return on equity of 7.35%. The business had revenue of $262.41 million for the quarter, compared to analyst estimates of $258.90 million. During the same period last year, the company posted $0.03 EPS. The business's revenue was up 20.7% on a year-over-year basis. As a group, sell-side analysts expect that Rush Street Interactive, Inc. will post 0.04 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Masi Niccolo De sold 286,769 shares of Rush Street Interactive stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $14.08, for a total transaction of $4,037,707.52. Following the sale, the director owned 921,884 shares of the company's stock, valued at approximately $12,980,126.72. The trade was a 23.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Richard Todd Schwartz sold 193,905 shares of the business's stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $15.39, for a total value of $2,984,197.95. Following the completion of the sale, the chief executive officer directly owned 1,017,471 shares in the company, valued at approximately $15,658,878.69. The trade was a 16.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,147,520 shares of company stock worth $30,097,728 over the last three months. Corporate insiders own 56.94% of the company's stock.

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.