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

Squarepoint Ops LLC trimmed its position in shares of Rush Street Interactive, Inc. (NYSE:RSI) by 32.7% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 205,454 shares of the company’s stock after selling 99,790 shares during the quarter. Squarepoint Ops LLC’s holdings in Rush Street Interactive were worth $6,110,000 at the end of the most recent quarter.

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

Rush Street Interactive Stock Performance

Shares of NYSE:RSI opened at $26.37 on Friday. The firm has a market cap of $6.11 billion, a PE ratio of 90.94 and a beta of 1.51. The firm’s 50 day simple moving average is $28.35 and its 200-day simple moving average is $26.05. Rush Street Interactive, Inc. has a one year low of $15.51 and a one year high of $34.53.

Rush Street Interactive (NYSE:RSI) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.15 earnings per share for the quarter, meeting the consensus estimate of $0.15. Rush Street Interactive had a net margin of 2.33% and a return on equity of 18.88%. The firm had revenue of $393.78 million during the quarter, compared to the consensus estimate of $367.75 million. During the same quarter in the previous year, the firm posted $0.11 earnings per share. The company’s revenue was up 46.3% on a year-over-year basis. Equities research analysts predict that Rush Street Interactive, Inc. will post 0.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Benchmark raised their price objective on shares of Rush Street Interactive from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Citizens Jmp increased their price target on Rush Street Interactive from $33.00 to $34.00 and gave the stock a “market outperform” rating in a report on Thursday, July 30th. Citigroup reissued a “market outperform” rating on shares of Rush Street Interactive in a research note on Thursday, July 30th. Wall Street Zen cut Rush Street Interactive from a “buy” rating to a “hold” rating in a report on Saturday, September 5th. Finally, Oppenheimer upped their price objective on Rush Street Interactive from $30.00 to $36.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $35.22.

Insider Buying and Selling at Rush Street Interactive

In other Rush Street Interactive news, CEO Richard Schwartz sold 111,110 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $25.69, for a total value of $2,854,415.90. Following the completion of the sale, the chief executive officer directly owned 421,258 shares in the company, valued at approximately $10,822,118.02. This represents a 20.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Mattias Stetz sold 20,000 shares of the stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $25.68, for a total value of $513,600.00. Following the transaction, the chief operating officer directly owned 157,874 shares in the company, valued at $4,054,204.32. The trade was a 11.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 614,000 shares of company stock valued at $17,394,492 in the last ninety days. Corporate insiders own 52.89% of the company’s stock.

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.