Squarepoint Ops LLC Sells 99,790 Shares of Rush Street Interactive, Inc. $RSI

Key Points

• Squarepoint Ops LLC cut its Rush Street Interactive stake by 32.7%, selling 99,790 shares and retaining 205,454 shares valued at approximately $6.11 million. Institutional investors collectively own 24.78% of RSI.
• Analyst sentiment remains positive, with one Strong Buy, nine Buy, and three Hold ratings; the stock has an average rating of Moderate Buy and an average price target of $35.22.
• Rush Street Interactive reported quarterly revenue of $393.78 million, up 46.3% year over year and above estimates, while EPS of $0.15 matched consensus expectations. Executives also sold shares under pre-arranged Rule 10b5-1 trading plans.

Squarepoint Ops LLC decreased its position in shares of Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 32.7% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 205,454 shares of the company's stock after selling 99,790 shares during the quarter. Squarepoint Ops LLC owned approximately 0.09% of Rush Street Interactive worth $6,110,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in Rush Street Interactive in the 2nd quarter worth $448,435,000. California State Teachers Retirement System lifted its position in shares of Rush Street Interactive by 2,755.9% in the second quarter. California State Teachers Retirement System now owns 3,692,043 shares of the company's stock valued at $109,801,000 after acquiring an additional 3,562,766 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Rush Street Interactive by 763.6% in the third quarter. Ameriprise Financial Inc. now owns 2,822,991 shares of the company's stock worth $57,815,000 after acquiring an additional 2,496,109 shares during the period. William Blair Investment Management LLC bought a new position in shares of Rush Street Interactive in the second quarter worth about $48,647,000. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Rush Street Interactive by 84.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,764,173 shares of the company's stock worth $60,121,000 after purchasing an additional 1,267,622 shares in the last quarter. Institutional investors own 24.78% of the company's stock.

Analyst Ratings Changes

RSI has been the topic of several recent analyst reports. Benchmark lifted their target price on Rush Street Interactive from $30.00 to $35.00 and gave the company a "buy" rating in a research note on Thursday, July 23rd. Citizens Jmp lifted their price objective on shares of Rush Street Interactive from $33.00 to $34.00 and gave the company a "market outperform" rating in a research report on Thursday, July 30th. Oppenheimer boosted their target price on shares of Rush Street Interactive from $30.00 to $36.00 and gave the stock an "outperform" rating in a report on Friday, July 24th. Jefferies Financial Group restated a "buy" rating and set a $39.00 target price on shares of Rush Street Interactive in a research report on Thursday, July 30th. Finally, Weiss Ratings cut shares of Rush Street Interactive from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, September 1st. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Rush Street Interactive presently has an average rating of "Moderate Buy" and an average target price of $35.22.

Insider Activity at Rush Street Interactive

In other Rush Street Interactive news, COO Mattias Stetz sold 20,000 shares of the stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $25.68, for a total transaction of $513,600.00. Following the completion of the transaction, the chief operating officer owned 157,874 shares in the company, valued at $4,054,204.32. This trade represents a 11.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Richard Schwartz sold 111,110 shares of the stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $25.69, for a total transaction of $2,854,415.90. Following the transaction, the chief executive officer owned 421,258 shares of the company's stock, valued at $10,822,118.02. This trade represents a 20.87% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 614,000 shares of company stock valued at $17,394,492 over the last 90 days. 52.89% of the stock is owned by corporate insiders.

Rush Street Interactive Trading Up 0.0%

Shares of Rush Street Interactive stock opened at $26.37 on Friday. The stock has a 50 day moving average of $28.35 and a 200 day moving average of $26.05. Rush Street Interactive, Inc. has a 12 month low of $15.51 and a 12 month high of $34.53. The firm has a market cap of $6.11 billion, a PE ratio of 90.94 and a beta of 1.51.

Rush Street Interactive (NYSE:RSI - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.15 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.15. Rush Street Interactive had a return on equity of 18.88% and a net margin of 2.33%.The business had revenue of $393.78 million for the quarter, compared to the consensus estimate of $367.75 million. During the same quarter in the previous year, the company posted $0.11 EPS. The company's revenue was up 46.3% compared to the same quarter last year. As a group, equities research analysts forecast that Rush Street Interactive, Inc. will post 0.49 earnings per share for the current fiscal year.

Rush Street Interactive Company Profile

Rush Street Interactive, Inc NYSE: RSI is an online gaming and sports betting company that operates digital casino, sportsbook and related gaming platforms. Its consumer-facing brands include BetRivers and PlaySugarHouse, which offer mobile and online wagering products such as sports betting, internet casino games and, in certain markets, online poker.

The company operates primarily in regulated markets across the United States and Canada, as well as select Latin American jurisdictions.

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