Nomura Holdings Inc. boosted its holdings in Rush Street Interactive, Inc. (NYSE:RSI – Get Rating) by 25.4% during the third quarter, Holdings Channel.com reports. The fund owned 4,188,658 shares of the company's stock after buying an additional 848,848 shares during the quarter. Nomura Holdings Inc.'s holdings in Rush Street Interactive were worth $15,419,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Canyon Capital Advisors LLC boosted its holdings in Rush Street Interactive by 14.3% during the 2nd quarter. Canyon Capital Advisors LLC now owns 5,735,284 shares of the company's stock valued at $26,783,000 after acquiring an additional 715,577 shares during the period. Vanguard Group Inc. boosted its holdings in Rush Street Interactive by 6.3% during the 3rd quarter. Vanguard Group Inc. now owns 5,059,483 shares of the company's stock valued at $18,620,000 after acquiring an additional 299,209 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Rush Street Interactive by 8.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 4,731,177 shares of the company's stock worth $22,095,000 after buying an additional 365,981 shares during the period. BlackRock Inc. grew its position in shares of Rush Street Interactive by 0.9% in the 1st quarter. BlackRock Inc. now owns 3,510,602 shares of the company's stock worth $25,522,000 after buying an additional 30,403 shares during the last quarter. Finally, Conversant Capital LLC purchased a new position in shares of Rush Street Interactive during the second quarter valued at approximately $13,029,000. 35.79% of the stock is currently owned by hedge funds and other institutional investors.
Get Rush Street Interactive alerts:Rush Street Interactive Stock Performance
RSI stock traded down $0.07 during midday trading on Friday, reaching $3.41. The stock had a trading volume of 159,431 shares, compared to its average volume of 470,169. The firm has a fifty day simple moving average of $4.06 and a two-hundred day simple moving average of $4.06. Rush Street Interactive, Inc. has a 52-week low of $2.89 and a 52-week high of $9.34.
Rush Street Interactive (NYSE:RSI – Get Rating) last posted its earnings results on Wednesday, March 1st. The company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.01). The business had revenue of $165.53 million for the quarter, compared to analyst estimates of $161.60 million. Rush Street Interactive had a negative net margin of 6.52% and a negative return on equity of 17.05%. As a group, research analysts expect that Rush Street Interactive, Inc. will post -0.31 earnings per share for the current year.
Wall Street Analyst Weigh In
Several research firms recently weighed in on RSI. JMP Securities reiterated a "market outperform" rating and issued a $8.00 price target on shares of Rush Street Interactive in a report on Thursday, March 2nd. Benchmark reduced their price objective on shares of Rush Street Interactive from $9.00 to $6.00 and set a "buy" rating for the company in a research note on Tuesday. Wells Fargo & Company cut their price objective on Rush Street Interactive from $8.00 to $6.00 and set an "overweight" rating for the company in a report on Thursday, March 2nd. Jefferies Financial Group cut their price target on Rush Street Interactive from $14.00 to $12.00 in a report on Thursday, March 2nd. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $6.00 target price on shares of Rush Street Interactive in a research report on Thursday, March 2nd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Rush Street Interactive has a consensus rating of "Moderate Buy" and an average target price of $7.38.
Insiders Place Their Bets
In related news, major shareholder Gregory A. Carlin sold 100,000 shares of Rush Street Interactive stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $4.63, for a total value of $463,000.00. Following the completion of the sale, the insider now owns 1,494,402 shares in the company, valued at approximately $6,919,081.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Rush Street Interactive news, major shareholder Gregory A. Carlin sold 100,000 shares of the business's stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $4.63, for a total value of $463,000.00. Following the completion of the transaction, the insider now owns 1,494,402 shares in the company, valued at $6,919,081.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Gregory A. Carlin sold 50,000 shares of the business's stock in a transaction on Friday, February 17th. The stock was sold at an average price of $4.31, for a total transaction of $215,500.00. Following the completion of the transaction, the insider now owns 1,354,402 shares of the company's stock, valued at approximately $5,837,472.62. The disclosure for this sale can be found here. Corporate insiders own 58.02% of the company's stock.
Rush Street Interactive Company Profile
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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.
Further Reading
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