OMERS ADMINISTRATION Corp Invests $369,000 in Rush Street Interactive, Inc. (NYSE:RSI)

OMERS ADMINISTRATION Corp purchased a new position in shares of Rush Street Interactive, Inc. (NYSE:RSI - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 26,900 shares of the company's stock, valued at approximately $369,000.

Other hedge funds also recently modified their holdings of the company. R Squared Ltd acquired a new position in shares of Rush Street Interactive during the fourth quarter worth $28,000. Heck Capital Advisors LLC bought a new stake in Rush Street Interactive during the fourth quarter valued at $34,000. WealthTrak Capital Management LLC bought a new stake in Rush Street Interactive during the fourth quarter valued at $71,000. Lazard Asset Management LLC bought a new stake in Rush Street Interactive during the fourth quarter valued at $95,000. Finally, NewEdge Advisors LLC bought a new stake in Rush Street Interactive during the fourth quarter valued at $148,000. Institutional investors and hedge funds own 24.78% of the company's stock.

Insider Transactions at Rush Street Interactive

In other news, CEO Richard Todd Schwartz sold 106,952 shares of the business's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $11.86, for a total transaction of $1,268,450.72. Following the completion of the sale, the chief executive officer now directly owns 1,492,234 shares of the company's stock, valued at $17,697,895.24. The trade was a 6.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Mattias Stetz sold 25,000 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $11.73, for a total transaction of $293,250.00. Following the sale, the chief operating officer now directly owns 531,089 shares of the company's stock, valued at approximately $6,229,673.97. The trade was a 4.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 723,805 shares of company stock valued at $7,957,809 over the last three months. Corporate insiders own 56.94% of the company's stock.

Rush Street Interactive Trading Up 2.0%

Shares of NYSE RSI opened at $12.52 on Tuesday. The firm's 50-day moving average price is $11.44 and its 200-day moving average price is $12.77. Rush Street Interactive, Inc. has a 1-year low of $8.29 and a 1-year high of $16.78. The firm has a market capitalization of $2.87 billion, a P/E ratio of -626.00 and a beta of 1.88.

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 the consensus estimate of $0.08 by $0.01. Rush Street Interactive had a negative net margin of 0.16% and a negative return on equity of 3.73%. The firm had revenue of $262.41 million for the quarter, compared to analyst estimates of $258.90 million. During the same quarter in the prior year, the business earned $0.03 earnings per share. The business's quarterly revenue was up 20.7% compared to the same quarter last year. Equities research analysts forecast that Rush Street Interactive, Inc. will post 0.04 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Susquehanna upped their price target on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company a "positive" rating in a research report on Thursday, May 1st. Needham & Company LLC reaffirmed a "buy" rating and set a $17.00 price target on shares of Rush Street Interactive in a research report on Thursday, May 1st. Benchmark upped their price target on shares of Rush Street Interactive from $12.00 to $14.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Wells Fargo & Company upped their price target on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company an "overweight" rating in a research report on Thursday, February 27th. Finally, Macquarie reaffirmed an "outperform" rating and set a $16.00 price target on shares of Rush Street Interactive in a research report on Friday, May 2nd. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $15.63.

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.

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