Two Sigma Investments LP Makes New $783,000 Investment in Rush Street Interactive, Inc. (NYSE:RSI)

Two Sigma Investments LP bought a new position in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 57,075 shares of the company's stock, valued at approximately $783,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Rush Street Interactive by 3.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,270 shares of the company's stock valued at $594,000 after purchasing an additional 1,632 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Rush Street Interactive by 11.0% during the 4th quarter. Arizona State Retirement System now owns 22,913 shares of the company's stock valued at $314,000 after purchasing an additional 2,265 shares in the last quarter. Tidal Investments LLC raised its holdings in shares of Rush Street Interactive by 6.3% during the 4th quarter. Tidal Investments LLC now owns 38,360 shares of the company's stock valued at $526,000 after purchasing an additional 2,280 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Rush Street Interactive by 2.4% during the 4th quarter. Rhumbline Advisers now owns 103,426 shares of the company's stock valued at $1,419,000 after purchasing an additional 2,457 shares in the last quarter. Finally, MetLife Investment Management LLC raised its holdings in shares of Rush Street Interactive by 5.6% during the 4th quarter. MetLife Investment Management LLC now owns 47,125 shares of the company's stock valued at $647,000 after purchasing an additional 2,505 shares in the last quarter. Hedge funds and other institutional investors own 24.78% of the company's stock.

Analysts Set New Price Targets

RSI has been the topic of a number of research analyst reports. Macquarie reiterated an "outperform" rating and issued a $16.00 target price on shares of Rush Street Interactive in a research note on Friday, May 2nd. Wall Street Zen lowered shares of Rush Street Interactive from a "strong-buy" rating to a "buy" rating in a research report on Sunday, June 1st. Needham & Company LLC restated a "buy" rating and issued a $17.00 price target on shares of Rush Street Interactive in a research report on Thursday, May 1st. Wells Fargo & Company raised their price target on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock an "overweight" rating in a research report on Thursday, February 27th. Finally, Benchmark raised their price target on shares of Rush Street Interactive from $12.00 to $14.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $15.63.

Insider Activity

In other news, CEO Richard Todd Schwartz sold 109,567 shares of Rush Street Interactive stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $9.85, for a total transaction of $1,079,234.95. Following the sale, the chief executive officer now directly owns 2,082,376 shares in the company, valued at approximately $20,511,403.60. The trade was a 5.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Mattias Stetz sold 3,777 shares of the business's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $12.08, for a total transaction of $45,626.16. Following the completion of the transaction, the chief operating officer now owns 421,051 shares in the company, valued at approximately $5,086,296.08. This trade represents a 0.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 723,805 shares of company stock worth $8,032,309. Corporate insiders own 56.94% of the company's stock.

Rush Street Interactive Stock Performance

Shares of Rush Street Interactive stock opened at $13.41 on Friday. The firm's 50-day simple moving average is $11.87 and its 200-day simple moving average is $12.87. Rush Street Interactive, Inc. has a twelve month low of $8.52 and a twelve month high of $16.78. The firm has a market cap of $3.07 billion, a P/E ratio of -670.55 and a beta of 1.85.

Rush Street Interactive (NYSE:RSI - Get Free Report) last issued its 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. Rush Street Interactive had a negative net margin of 0.16% and a negative return on equity of 3.73%. The business had revenue of $262.41 million for the quarter, compared to analyst estimates of $258.90 million. During the same period in the previous year, the business earned $0.03 EPS. The firm's revenue was up 20.7% on a year-over-year basis. On average, equities analysts forecast that Rush Street Interactive, Inc. will post 0.04 earnings per share for the current fiscal year.

Rush Street Interactive Profile

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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