Millennium Management LLC Boosts Holdings in Rush Street Interactive, Inc. (NYSE:RSI)

Millennium Management LLC increased its holdings in shares of Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 378.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 620,552 shares of the company's stock after purchasing an additional 490,831 shares during the period. Millennium Management LLC owned 0.28% of Rush Street Interactive worth $5,951,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of RSI. Dark Forest Capital Management LP acquired a new stake in shares of Rush Street Interactive during the second quarter worth about $196,000. AQR Capital Management LLC raised its stake in Rush Street Interactive by 98.1% during the 2nd quarter. AQR Capital Management LLC now owns 219,857 shares of the company's stock valued at $2,108,000 after acquiring an additional 108,900 shares during the last quarter. Alpha DNA Investment Management LLC acquired a new stake in Rush Street Interactive during the 2nd quarter worth approximately $528,000. Squarepoint Ops LLC purchased a new position in shares of Rush Street Interactive in the 2nd quarter valued at approximately $2,401,000. Finally, Marshall Wace LLP increased its holdings in shares of Rush Street Interactive by 185.5% in the second 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 during the period. 24.78% of the stock is owned by hedge funds and other institutional investors.

Rush Street Interactive Trading Up 4.3 %

Shares of Rush Street Interactive stock traded up $0.47 during trading on Friday, hitting $11.41. 2,155,848 shares of the company were exchanged, compared to its average volume of 1,593,354. Rush Street Interactive, Inc. has a fifty-two week low of $3.17 and a fifty-two week high of $11.59. The firm has a 50 day moving average price of $9.81 and a 200 day moving average price of $8.86.

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 for the quarter, beating the consensus estimate of ($0.02) by $0.06. The company had revenue of $220.38 million during the quarter, compared to the consensus estimate of $201.37 million. Rush Street Interactive had a negative return on equity of 12.45% and a negative net margin of 0.84%. Rush Street Interactive's revenue was up 33.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.08) EPS. Sell-side analysts anticipate that Rush Street Interactive, Inc. will post -0.01 EPS for the current fiscal year.

Insider Buying and Selling at Rush Street Interactive

In related news, CEO Richard Todd Schwartz sold 40,498 shares of the firm's stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $10.18, for a total value of $412,269.64. Following the sale, the chief executive officer now directly owns 1,862,997 shares of the company's stock, valued at approximately $18,965,309.46. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Einar Roosileht sold 150,000 shares of the firm's stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $9.09, for a total value of $1,363,500.00. Following the transaction, the insider now directly owns 809,260 shares in the company, valued at $7,356,173.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Richard Todd Schwartz sold 40,498 shares of the business's stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $10.18, for a total value of $412,269.64. Following the sale, the chief executive officer now owns 1,862,997 shares of the company's stock, valued at $18,965,309.46. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 548,210 shares of company stock worth $5,179,362 in the last 90 days. 56.89% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

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.