Precision Wealth Strategies LLC Invests $349,000 in Rush Street Interactive, Inc. (NYSE:RSI)

Precision Wealth Strategies LLC acquired a new stake in Rush Street Interactive, Inc. (NYSE:RSI) in the 3rd quarter, HoldingsChannel reports. The fund acquired 32,183 shares of the company’s stock, valued at approximately $349,000.

Several other large investors also recently made changes to their positions in the stock. Quarry LP boosted its holdings in shares of Rush Street Interactive by 15.9% in the 2nd quarter. Quarry LP now owns 8,762 shares of the company’s stock valued at $84,000 after buying an additional 1,200 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Rush Street Interactive by 25.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 28,645 shares of the company’s stock valued at $275,000 after purchasing an additional 5,840 shares during the last quarter. CWM LLC lifted its holdings in Rush Street Interactive by 425.6% during the 3rd quarter. CWM LLC now owns 9,209 shares of the company’s stock valued at $100,000 after purchasing an additional 7,457 shares during the last quarter. Principal Financial Group Inc. bought a new position in Rush Street Interactive during the second quarter worth $98,000. Finally, Allspring Global Investments Holdings LLC boosted its position in Rush Street Interactive by 13,627.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 11,943 shares of the company’s stock worth $78,000 after purchasing an additional 11,856 shares during the period. Institutional investors and hedge funds own 24.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Craig Hallum lifted their price objective on shares of Rush Street Interactive from $11.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Needham & Company LLC boosted 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 report on Thursday, August 1st. Wells Fargo & Company boosted their target price on shares of Rush Street Interactive from $11.00 to $13.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, Oppenheimer boosted their target price on shares of Rush Street Interactive from $10.00 to $14.00 and gave the company an “outperform” 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’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $11.17.

Insider Transactions at Rush Street Interactive

In other news, 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 transaction of $412,269.64. Following the sale, the chief executive officer now directly owns 1,862,997 shares in the company, valued at approximately $18,965,309.46. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Paul Wierbicki sold 20,437 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $9.53, for a total value of $194,764.61. Following the sale, the insider now directly owns 174,982 shares in the company, valued at $1,667,578.46. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Richard Todd Schwartz sold 40,498 shares of the company’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 completion of the sale, the chief executive officer now owns 1,862,997 shares in the company, valued at $18,965,309.46. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 548,210 shares of company stock worth $5,179,362. Insiders own 56.89% of the company’s stock.

Rush Street Interactive Stock Down 2.6 %

RSI stock opened at $10.73 on Tuesday. The company has a market cap of $2.41 billion, a PE ratio of -63.09 and a beta of 1.79. The business has a 50-day simple moving average of $10.04 and a 200 day simple moving average of $9.12. 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 issued its earnings results on Wednesday, July 31st. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.06. The firm 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%. The business’s quarterly revenue was up 33.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.08) earnings per share. On average, analysts anticipate that Rush Street Interactive, Inc. will post -0.01 EPS for the current fiscal year.

Rush Street Interactive Company 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.