Legato Capital Management LLC grew its stake in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 22.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 169,212 shares of the company's stock after acquiring an additional 30,952 shares during the quarter. Legato Capital Management LLC owned 0.07% of Rush Street Interactive worth $1,814,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of RSI. Price T Rowe Associates Inc. MD lifted its holdings in shares of Rush Street Interactive by 7,958.9% in 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 in the last quarter. Topline Capital Management LLC bought a new position in Rush Street Interactive in the fourth quarter worth $24,851,000. Nicholas Investment Partners LP purchased a new stake in shares of Rush Street Interactive in the fourth quarter worth $14,970,000. Vanguard Group Inc. boosted its position in shares of Rush Street Interactive by 14.0% during the fourth quarter. Vanguard Group Inc. now owns 8,596,434 shares of the company's stock valued at $117,943,000 after buying an additional 1,056,583 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Rush Street Interactive by 62.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,663,246 shares of the company's stock valued at $36,540,000 after buying an additional 1,018,889 shares in the last quarter. 24.78% of the stock is owned by institutional investors.
Insider Transactions at Rush Street Interactive
In other news, CEO Richard Todd Schwartz sold 193,905 shares of Rush Street Interactive stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $15.39, for a total value of $2,984,197.95. Following the completion of the transaction, the chief executive officer owned 1,017,471 shares in the company, valued at approximately $15,658,878.69. This trade represents a 16.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Masi Niccolo De sold 58,453 shares of the firm's stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $15.28, for a total value of $893,161.84. Following the completion of the sale, the director directly owned 446,094 shares in the company, valued at approximately $6,816,316.32. This trade represents a 11.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,143,043 shares of company stock worth $30,043,702 over the last ninety days. 56.89% of the stock is currently owned by company insiders.
Rush Street Interactive Trading Up 0.8%
NYSE RSI opened at $14.67 on Wednesday. The company's 50 day moving average is $13.61 and its two-hundred day moving average is $13.00. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of 183.37 and a beta of 1.87. 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 data on Wednesday, April 30th. The company reported $0.09 earnings per share for the quarter, beating analysts' consensus estimates of $0.08 by $0.01. The company had revenue of $262.41 million for the quarter, compared to analyst estimates of $258.90 million. Rush Street Interactive had a return on equity of 7.35% and a net margin of 0.87%. The firm's revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.03 EPS. Sell-side analysts forecast that Rush Street Interactive, Inc. will post 0.04 EPS for the current year.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on RSI. Wall Street Zen raised Rush Street Interactive from a "buy" rating to a "strong-buy" rating in a research report on Friday, July 18th. Needham & Company LLC reissued a "buy" rating and set a $17.00 target price on shares of Rush Street Interactive in a report on Thursday, May 1st. Macquarie reissued an "outperform" rating and set a $16.00 target price on shares of Rush Street Interactive in a research note on Friday, May 2nd. Benchmark raised their price target on Rush Street Interactive from $14.00 to $17.00 and gave the stock a "buy" rating in a research report on Tuesday, July 1st. Finally, JPMorgan Chase & Co. began coverage on Rush Street Interactive in a report on Monday, June 23rd. They issued a "neutral" rating and a $14.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $15.89.
View Our Latest Report on Rush Street Interactive
About Rush Street Interactive
(
Free Report)
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.
See Also
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