New York State Common Retirement Fund Purchases 362,755 Shares of Rush Street Interactive, Inc. (NYSE:RSI)

New York State Common Retirement Fund lifted its position in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 204.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 540,382 shares of the company's stock after buying an additional 362,755 shares during the quarter. New York State Common Retirement Fund owned about 0.24% of Rush Street Interactive worth $5,793,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Arizona State Retirement System raised its stake in shares of Rush Street Interactive by 5.4% in the first quarter. Arizona State Retirement System now owns 24,145 shares of the company's stock valued at $259,000 after purchasing an additional 1,232 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Rush Street Interactive by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,270 shares of the company's stock worth $594,000 after acquiring an additional 1,632 shares in the last quarter. Tidal Investments LLC raised its stake in Rush Street Interactive by 6.3% during the fourth quarter. Tidal Investments LLC now owns 38,360 shares of the company's stock worth $526,000 after acquiring an additional 2,280 shares in the last quarter. Heck Capital Advisors LLC acquired a new position in Rush Street Interactive during the fourth quarter worth $34,000. Finally, MetLife Investment Management LLC raised its stake in Rush Street Interactive by 5.6% during the fourth quarter. MetLife Investment Management LLC now owns 47,125 shares of the company's stock worth $647,000 after acquiring an additional 2,505 shares in the last quarter. Institutional investors own 24.78% of the company's stock.

Insiders Place Their Bets

In other Rush Street Interactive news, Director Masi Niccolo De sold 286,769 shares of the company's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $14.08, for a total value of $4,037,707.52. Following the completion of the transaction, the director owned 921,884 shares of the company's stock, valued at $12,980,126.72. This represents a 23.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Einar Roosileht sold 70,000 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $12.47, for a total value of $872,900.00. Following the completion of the sale, the insider owned 876,150 shares in the company, valued at $10,925,590.50. This trade represents a 7.40% 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 valued at $30,043,702 in the last 90 days. Corporate insiders own 56.94% of the company's stock.

Rush Street Interactive Price Performance

RSI traded down $0.07 during trading on Thursday, hitting $14.73. The stock had a trading volume of 196,659 shares, compared to its average volume of 1,634,989. The company has a 50 day moving average price of $13.76 and a 200-day moving average price of $13.03. The firm has a market cap of $3.37 billion, a price-to-earnings ratio of 184.15 and a beta of 1.87. Rush Street Interactive, Inc. has a one year low of $8.52 and a one year high of $16.78.

Rush Street Interactive (NYSE:RSI - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.09 earnings per share (EPS) 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 the consensus estimate 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 quarterly revenue was up 20.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.03 EPS. As a group, sell-side analysts predict that Rush Street Interactive, Inc. will post 0.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RSI. Needham & Company LLC restated a "buy" rating and set a $17.00 target price on shares of Rush Street Interactive in a report on Thursday, May 1st. Susquehanna raised their price target on Rush Street Interactive from $14.00 to $15.00 and gave the company a "positive" rating in a report on Thursday, May 1st. Jefferies Financial Group raised their price target on Rush Street Interactive from $17.00 to $18.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. JPMorgan Chase & Co. initiated coverage on Rush Street Interactive in a report on Monday, June 23rd. They issued a "neutral" rating and a $14.00 price target on the stock. Finally, Macquarie restated an "outperform" rating and set a $16.00 target price on shares of Rush Street Interactive in a report on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $15.89.

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.