OmniStar Financial Group Inc. Increases Holdings in Rush Street Interactive, Inc. (NYSE:RSI)

OmniStar Financial Group Inc. increased its stake in Rush Street Interactive, Inc. (NYSE:RSI) by 581.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,862 shares of the company’s stock after acquiring an additional 68,992 shares during the period. OmniStar Financial Group Inc.’s holdings in Rush Street Interactive were worth $877,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in RSI. Vanguard Group Inc. increased its position in shares of Rush Street Interactive by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 5,481,219 shares of the company’s stock valued at $35,683,000 after purchasing an additional 85,736 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of 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 acquiring an additional 482,872 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Rush Street Interactive by 157.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,425,016 shares of the company’s stock worth $13,666,000 after acquiring an additional 872,367 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of Rush Street Interactive by 10.9% during the 2nd quarter. Federated Hermes Inc. now owns 1,329,825 shares of the company’s stock worth $12,753,000 after purchasing an additional 130,217 shares during the period. Finally, Driehaus Capital Management LLC bought a new position in Rush Street Interactive during the 2nd quarter valued at about $10,605,000. 24.78% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on RSI. Wells Fargo & Company boosted their target price on Rush Street Interactive from $11.00 to $13.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Oppenheimer boosted their price objective on Rush Street Interactive from $10.00 to $14.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Craig Hallum increased their target price on Rush Street Interactive from $11.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Needham & Company LLC lifted their target price on Rush Street Interactive from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $11.17.

Insider Buying and Selling at Rush Street Interactive

In other news, CEO Richard Todd Schwartz sold 78,593 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $9.56, for a total value of $751,349.08. Following the completion of the transaction, the chief executive officer now directly owns 1,984,404 shares of the company’s stock, valued at approximately $18,970,902.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Rush Street Interactive news, CEO Richard Todd Schwartz sold 78,593 shares of Rush Street Interactive stock in a transaction on Monday, August 5th. The shares were sold at an average price of $9.56, for a total value of $751,349.08. Following the transaction, the chief executive officer now directly owns 1,984,404 shares of the company’s stock, valued at approximately $18,970,902.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kyle Sauers sold 108,682 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $9.50, for a total value of $1,032,479.00. Following the sale, the chief financial officer now owns 441,492 shares of the company’s stock, valued at approximately $4,194,174. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 548,210 shares of company stock valued at $5,179,362. 56.89% of the stock is currently owned by corporate insiders.

Rush Street Interactive Trading Down 1.1 %

Shares of Rush Street Interactive stock traded down $0.12 during trading on Friday, hitting $11.01. 368,984 shares of the stock traded hands, compared to its average volume of 1,581,268. The stock’s fifty day simple moving average is $9.96 and its 200 day simple moving average is $9.03. The firm has a market cap of $2.48 billion, a P/E ratio of -65.47 and a beta of 1.79. Rush Street Interactive, Inc. has a 52-week low of $3.17 and a 52-week high of $11.59.

Rush Street Interactive (NYSE:RSI) last posted its earnings results on Wednesday, July 31st. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates 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 last year, the firm posted ($0.08) EPS. The company’s revenue for the quarter was up 33.5% on a year-over-year basis. As a group, equities analysts expect that Rush Street Interactive, Inc. will post -0.01 EPS for the current year.

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.