Emerald Advisers LLC Acquires 30,988 Shares of Rush Street Interactive, Inc. (NYSE:RSI)

Emerald Advisers LLC grew its holdings in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 4.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 757,477 shares of the company's stock after purchasing an additional 30,988 shares during the period. Emerald Advisers LLC owned approximately 0.33% of Rush Street Interactive worth $8,120,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Bank of New York Mellon Corp increased its holdings in Rush Street Interactive by 8.6% during the 4th quarter. Bank of New York Mellon Corp now owns 213,320 shares of the company's stock worth $2,927,000 after acquiring an additional 16,958 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Rush Street Interactive by 18.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 879,563 shares of the company's stock worth $12,068,000 after buying an additional 137,701 shares in the last quarter. Arizona State Retirement System grew its stake in Rush Street Interactive by 11.0% in the 4th quarter. Arizona State Retirement System now owns 22,913 shares of the company's stock worth $314,000 after buying an additional 2,265 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Rush Street Interactive in the 4th quarter worth approximately $1,282,000. Finally, AlphaQuest LLC grew its stake in Rush Street Interactive by 184.7% in the 4th quarter. AlphaQuest LLC now owns 16,626 shares of the company's stock worth $228,000 after buying an additional 10,786 shares in the last quarter. Institutional investors own 24.78% of the company's stock.

Rush Street Interactive Price Performance

RSI traded down $0.46 during trading on Friday, hitting $14.87. 959,180 shares of the stock traded hands, compared to its average volume of 1,765,400. The firm has a market capitalization of $3.40 billion, a P/E ratio of 185.90 and a beta of 1.87. The firm has a 50-day moving average of $13.31 and a 200 day moving average of $12.97. Rush Street Interactive, Inc. has a 12-month low of $8.52 and a 12-month high of $16.78.

Rush Street Interactive (NYSE:RSI - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.01. The business had revenue of $262.41 million during the quarter, compared to analysts' expectations of $258.90 million. Rush Street Interactive had a net margin of 0.87% and a return on equity of 7.35%. The firm's revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.03 EPS. As a group, equities analysts predict that Rush Street Interactive, Inc. will post 0.04 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on RSI. Jefferies Financial Group boosted their price target on shares of Rush Street Interactive from $17.00 to $18.00 and gave the stock a "buy" rating in a research note on Thursday, July 3rd. JPMorgan Chase & Co. started coverage on shares of Rush Street Interactive in a research note on Monday, June 23rd. They issued a "neutral" rating and a $14.00 price target for the company. Wall Street Zen cut shares of Rush Street Interactive from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 5th. Susquehanna upped their price objective on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company a "positive" rating in a research note on Thursday, May 1st. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $17.00 price objective on shares of Rush Street Interactive in a research note on Thursday, May 1st. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $15.89.

Insider Activity

In other Rush Street Interactive news, insider Einar Roosileht sold 70,000 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $14.77, for a total value of $1,033,900.00. Following the completion of the transaction, the insider directly owned 876,150 shares in the company, valued at approximately $12,940,735.50. This represents a 7.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Masi Niccolo De sold 58,453 shares of the company's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $15.28, for a total transaction of $893,161.84. Following the completion of the transaction, the director owned 446,094 shares of the company's stock, valued at $6,816,316.32. This trade represents a 11.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,147,520 shares of company stock worth $30,097,728. 56.94% of the stock is currently owned by corporate insiders.

About Rush Street Interactive

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.