Victory Capital Management Inc. Purchases 321,058 Shares of Rush Street Interactive, Inc. (NYSE:RSI)

Victory Capital Management Inc. boosted its holdings in shares of Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 3,168.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 331,191 shares of the company's stock after purchasing an additional 321,058 shares during the period. Victory Capital Management Inc. owned about 0.15% of Rush Street Interactive worth $3,550,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Heck Capital Advisors LLC acquired a new position in shares of Rush Street Interactive during the 4th quarter worth $34,000. GAMMA Investing LLC grew its position in Rush Street Interactive by 1,687.6% in the first quarter. GAMMA Investing LLC now owns 6,507 shares of the company's stock valued at $70,000 after acquiring an additional 6,143 shares during the last quarter. Lazard Asset Management LLC bought a new position in Rush Street Interactive in the fourth quarter valued at about $95,000. NewEdge Advisors LLC acquired a new position in Rush Street Interactive during the fourth quarter worth about $148,000. Finally, State of Tennessee Department of Treasury bought a new position in shares of Rush Street Interactive in the fourth quarter worth about $167,000. 24.78% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Masi Niccolo De sold 286,769 shares of Rush Street Interactive stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $14.08, for a total transaction 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 trade represents a 23.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard Todd Schwartz sold 193,905 shares of Rush Street Interactive stock in a transaction dated 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 directly owned 1,017,471 shares of the company's stock, valued at approximately $15,658,878.69. This trade represents a 16.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,143,043 shares of company stock worth $30,043,702. 56.89% of the stock is currently owned by insiders.

Rush Street Interactive Stock Up 3.5%

NYSE RSI opened at $15.22 on Monday. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of 190.21 and a beta of 1.87. Rush Street Interactive, Inc. has a twelve month low of $8.52 and a twelve month high of $16.78. The stock has a fifty day simple moving average of $13.87 and a 200 day simple moving average of $13.01.

Rush Street Interactive (NYSE:RSI - Get Free Report) last issued its quarterly 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. The company had revenue of $262.41 million during the quarter, compared to analysts' expectations of $258.90 million. Rush Street Interactive had a return on equity of 7.35% and a net margin of 0.87%. The business's quarterly revenue was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.03 earnings per share. Research analysts expect that Rush Street Interactive, Inc. will post 0.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. started coverage on shares of Rush Street Interactive in a report on Monday, June 23rd. They set a "neutral" rating and a $14.00 price target on the stock. Needham & Company LLC restated a "buy" rating and issued a $17.00 target price on shares of Rush Street Interactive in a research report on Thursday, May 1st. Jefferies Financial Group boosted their target price on shares of Rush Street Interactive from $17.00 to $18.00 and gave the stock a "buy" rating in a research note on Thursday, July 3rd. Wall Street Zen upgraded Rush Street Interactive from a "buy" rating to a "strong-buy" rating in a research note on Friday, July 18th. Finally, Benchmark boosted their price objective 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. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $15.89.

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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