Alpha DNA Investment Management LLC Buys New Shares in Rush Street Interactive, Inc. (NYSE:RSI)

Alpha DNA Investment Management LLC bought a new position in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 55,050 shares of the company's stock, valued at approximately $528,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its position in shares of Rush Street Interactive by 157.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,425,016 shares of the company's stock valued at $13,666,000 after buying an additional 872,367 shares in the last quarter. Nomura Holdings Inc. boosted its position in shares of Rush Street Interactive by 24.7% during the 4th quarter. Nomura Holdings Inc. now owns 4,184,373 shares of the company's stock worth $18,788,000 after purchasing an additional 828,984 shares during the period. Marshall Wace LLP raised its position in Rush Street Interactive by 185.5% in the 2nd quarter. Marshall Wace LLP now owns 981,822 shares of the company's stock valued at $9,416,000 after purchasing an additional 637,883 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Rush Street Interactive by 47.3% in the second quarter. Renaissance Technologies LLC now owns 1,504,200 shares of the company's stock valued at $14,425,000 after buying an additional 482,872 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Rush Street Interactive in the first quarter valued at approximately $1,673,000. 24.78% of the stock is owned by hedge funds and other institutional investors.

Rush Street Interactive Stock Up 0.8 %

Rush Street Interactive stock traded up $0.08 during mid-day trading on Wednesday, hitting $10.68. 1,297,120 shares of the company were exchanged, compared to its average volume of 1,596,061. The company has a market capitalization of $2.41 billion, a PE ratio of -63.06 and a beta of 1.78. Rush Street Interactive, Inc. has a 1-year low of $3.17 and a 1-year high of $11.59. The business has a fifty day moving average of $9.69 and a 200 day moving average of $8.51.

Rush Street Interactive (NYSE:RSI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.06. Rush Street Interactive had a negative net margin of 0.84% and a negative return on equity of 12.45%. The business had revenue of $220.38 million for the quarter, compared to the consensus estimate of $201.37 million. During the same quarter in the prior year, the company earned ($0.08) EPS. The firm's quarterly revenue was up 33.5% on a year-over-year basis. Research analysts expect that Rush Street Interactive, Inc. will post -0.01 earnings per share for the current year.

Analyst Ratings Changes

RSI has been the subject of several research reports. Wells Fargo & Company lifted their price objective on Rush Street Interactive from $11.00 to $13.00 and gave the stock an "overweight" rating in a research report on Thursday, August 1st. Needham & Company LLC upped their target price on shares of Rush Street Interactive from $10.00 to $14.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. Craig Hallum raised their target price on Rush Street Interactive from $11.00 to $14.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. Finally, Oppenheimer increased their price target on Rush Street Interactive from $10.00 to $14.00 and gave the company an "outperform" rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Rush Street Interactive has a consensus rating of "Moderate Buy" and an average price target of $11.17.

Insider Buying and Selling

In other news, insider Einar Roosileht sold 150,000 shares of the company's stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $9.09, for a total transaction of $1,363,500.00. Following the completion of the sale, the insider now owns 809,260 shares of the company's stock, valued at approximately $7,356,173.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Rush Street Interactive news, CFO Kyle Sauers sold 108,682 shares of the company's stock in a transaction on Monday, August 5th. The shares were sold at an average price of $9.50, for a total transaction of $1,032,479.00. Following the sale, the chief financial officer now owns 441,492 shares of the company's stock, valued at $4,194,174. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Einar Roosileht sold 150,000 shares of the business's stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $9.09, for a total value of $1,363,500.00. Following the completion of the sale, the insider now directly owns 809,260 shares of the company's stock, valued at $7,356,173.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 548,210 shares of company stock worth $5,179,362. 56.89% of the stock is owned by insiders.

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.