AdvisorNet Financial Inc Has $124,000 Holdings in Rush Street Interactive, Inc. (NYSE:RSI)

AdvisorNet Financial Inc increased its stake in Rush Street Interactive, Inc. (NYSE:RSIGet Rating) by 87.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,489 shares of the company’s stock after purchasing an additional 12,380 shares during the period. AdvisorNet Financial Inc’s holdings in Rush Street Interactive were worth $124,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Amalgamated Bank acquired a new position in Rush Street Interactive in the 1st quarter worth $62,000. Exos Asset Management LLC boosted its stake in Rush Street Interactive by 17.7% in the 1st quarter. Exos Asset Management LLC now owns 9,989 shares of the company’s stock worth $73,000 after purchasing an additional 1,500 shares during the period. Rockefeller Capital Management L.P. acquired a new position in Rush Street Interactive in the 4th quarter worth $81,000. Quantbot Technologies LP acquired a new position in Rush Street Interactive in the 1st quarter worth $94,000. Finally, Parametrica Management Ltd acquired a new position in Rush Street Interactive in the 1st quarter worth $103,000. 37.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on RSI shares. Susquehanna Bancshares started coverage on shares of Rush Street Interactive in a research note on Wednesday, July 20th. They set a “neutral” rating and a $6.00 price objective for the company. JMP Securities started coverage on shares of Rush Street Interactive in a research note on Tuesday, June 28th. They set an “outperform” rating and a $12.00 price objective for the company. Susquehanna started coverage on shares of Rush Street Interactive in a research note on Wednesday, July 20th. They set a “neutral” rating and a $6.00 price objective for the company. Finally, Craig Hallum reduced their price objective on shares of Rush Street Interactive to $9.00 in a research note on Tuesday, August 9th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Rush Street Interactive currently has an average rating of “Moderate Buy” and an average price target of $12.80.

Rush Street Interactive Stock Performance

Shares of RSI stock opened at $4.73 on Thursday. The firm’s 50-day moving average is $5.46 and its 200-day moving average is $6.06. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -7.51 and a beta of 1.95. Rush Street Interactive, Inc. has a 52-week low of $4.06 and a 52-week high of $21.83.

Rush Street Interactive (NYSE:RSIGet Rating) last issued its earnings results on Thursday, August 4th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.03). The firm had revenue of $143.74 million during the quarter, compared to the consensus estimate of $152.30 million. Rush Street Interactive had a negative net margin of 7.28% and a negative return on equity of 18.28%. Sell-side analysts predict that Rush Street Interactive, Inc. will post -0.62 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Gregory A. Carlin sold 120,499 shares of the company’s stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $5.83, for a total value of $702,509.17. Following the sale, the insider now directly owns 2,129,510 shares of the company’s stock, valued at approximately $12,415,043.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Rush Street Interactive news, major shareholder Gregory A. Carlin sold 24,910 shares of the stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $6.20, for a total value of $154,442.00. Following the transaction, the insider now directly owns 575,090 shares of the company’s stock, valued at approximately $3,565,558. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Gregory A. Carlin sold 120,499 shares of the stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $5.83, for a total transaction of $702,509.17. Following the completion of the transaction, the insider now directly owns 2,129,510 shares in the company, valued at $12,415,043.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 365,061 shares of company stock valued at $2,183,266. 58.02% of the stock is owned by company insiders.

About Rush Street Interactive

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Rush Street Interactive, Inc operates as an online casino and sports betting company in the United States and 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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Institutional Ownership by Quarter for Rush Street Interactive (NYSE:RSI)

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